Through superior payments software, micropayments companies like Paypal (founded in 1998), Yaga (founded in 2000), Peppercoin (founded in 2001) and BitPass (founded in 2002) are able to offer much lower transaction costs than credit card companies, greatly expanding the number of transactions. A company can now charge people less than a dollar for a service (such as viewing a web page), and get significant returns by high volume.