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Press Release

Ennovent Global Network to apply radically innovative FairPay payment model

VIENNA, Austria (PRWEB) – October 11, 2011 - ennovent is introducing a radically new payment model to one of its online services, the “Requests,” to ensure fair prices for members and the financial viability of the service. Requests allow network members to source human, financial and other key resources with the support of other network members through a crowdsourcing mechanism.

ennovent has become the first commercial venture to undertake use of the FairPay pricing system. Peter Scheuch, founder of ennovent says that,As a for-profit company with strong ethical values, we believed that the Fairpay model would be a good solution to setting fair prices for the value provided through our service.

FairPay turns conventional ideas of transactions on their head, with an entirely new architecture for buyer-seller relationships in a networked economy. With FairPay:

  • Individual members determine the price that seems fair to them after they receive the value, while also having incentive to set a price that ennovent will also consider to be fair.
  • If the price is considered unfair, that will limit future opportunities for that member to get services on a FairPay basis.

https://lh4.googleusercontent.com/sPVJ9kJUNMUvCgS4g5guZE1gYUcTg5dj4pTXwL4RInVlC-libwfOup3GXMtoibMsxHt04H9IIqvEkWHWOGuFSoKz3MTrvlpwnmjqcT-ONwsKiZximSg

Unlike conventional Pay What You Want pricing that often results in prices that are unfair to the seller, the FairPay process creates an ongoing dialog that lets users pay what they want as long as both they and ennovent agree prices are being fair. This ensures that users pay a price that provides ennovent with a fair profit, and does it in a way that continually adapts to the value delivered to each individual user for each transaction.

The result is that FairPay solves the problem that ennovent faced of setting the "right" price for such widely varying transactions, and instead applies an adaptive process through a user dialog. FairPay provided a structure for such dialog that can be responsive to extreme differences in value obtained, results, costs incurred by ennovent, and the user's ability to pay.

ennovent is starting with the "Free Trial/Survey Mode" of FairPay within the next weeks. In addition to introducing a new payment model, this approach provides ennovent a rich understanding of the resource needs of its members, and their perception of value and willingness to pay, while limiting ennovent’s financial investments and risks.

Richard Reisman, inventor of the Fairpay pricing model shares with us his thoughts on this partnership: “Teleshuttle has been pleased to collaborate with ennovent to refine and test the FairPay process in a commercial application that promises to showcase its power.”

Teleshuttle is developing FairPay as a solution to the dilemma of pricing digital offerings that is win-win for both buyers and sellers over a very wide range of value propositions. That can create a more efficient and sustainable economy, changing the way business is done in the 21st century. Teleshuttle offers free consultation to businesses interested in applying the FairPay process.

To learn more about Fairpay pricing, click here.

To join ennovent please click here.

About ennovent

ennovent promotes for-profit innovations for sustainability at the base of the economic pyramid. We bring together entrepreneurs, investors and experts to discover, finance and scale up the best innovations in energy, water, food, health and education. We are guided by strong ethical values and strive to fill a valued niche in the effort to solve problems of sustainability in developing countries.

About Teleshuttle Corporation

Teleshuttle collaborates with partner companies to develop the innovations of founder Richard Reisman. Reisman is a successful inventor and thought leader, advancing powerful interactive tools and media for human communication, collaboration, culture, and commerce since long before the Web. He has managed and consulted for corporations of all sizes, developed a variety of pioneering online services, and holds 18 patents, now licensed by over 100 companies (with dozens more pending).

###

Contact:

ennovent
Archana Verma
Community Manager
archana.verma[at]ennovent[dot]com
www.ennovent.com

Teleshuttle
Richard Reisman
President
fairpay[at]teleshuttle[dot]com
www.teleshuttle.com/FairPay

 

Related Fairpay Zone blog post

Original version of this release on ennovent blog

     
Harvard Business Review Blog
on FairPay Strategy
So Last Century!
End the Tyranny of Set-Prices

...with link to article preview
Presentation on FairPay
at MIT Enterprise Forum of NYC

...Slides and video now online
Press
HBR Blog on FairPay
Analyst on FairPay: "intriguingly powerful"

Blog:  The  FairPay Zone
...Current dialog and comments on FairPay and its applications

How Does FairPay Work?
Seeing the full power of FairPay, and how it works, takes a step outside conventional thinking...
-- please contact us for free consultation on how it can work for your business:  fairpay@teleshuttle.com





Diagrams and process explanation
 
Why would anyone pay
if they do not have to?
...and other FAQs

The answer is simple:  Buyers who do not pay
will not get further offers
. ...more

The Long Tail of Pricing: 
...Capturing Added Revenue and Profit


...A blog post explains this:  T
he green area shows the revenue under standard pricing -- The red and amber areas show potential revenue that is lost under standard pricing, but can be realized with FairPay.

A New Twist on The Invisible Hand
 ...to span ongoing relationships

...A blog post explains this:  FaiPay turns the invisible hand on its side -- to optimize the balance of supply and demand in terms of prices over time, with respect to individual customers.

FairPay Application/Market Segments
...Overview of major market segments in which the FairPay revenue model is readily applicable

A Sample FairPay Offer
...Explaining an offer, plus some buyer FAQs

Resource Guide to Pricing
...Annotated links and references on Pricing, Pay What You Want, and other related background
 

The  FairPay Zone  Blog -- Selected posts
Interview on FairPay
FairPay (as introduced in 2010):
The Future of a Radical Pricing Process

...A fuller introduction, with examples
 
 

Richard Reisman -- Bio
About Teleshuttle

Teleshuttle offers free consults on FairPay services
to potential partners and researchers.

Contact Information

Richard R. Reisman, President, Teleshuttle Corporation
20 East 9th Street, New York, NY 10003
(212)-673-0225
e-mail: fairpay@teleshuttle.com

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