The original payment processing revenue model is officially dead.

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Sun Microsystems is betting big on utility computing, a new model that would make processing time available to businesses on demand, much in the same way they buy utilities like gas and electricity.

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As the first step towards the commercialization of its new CMOS image sensors, Sony has developed a model with built-in signal processing functionality, an element that usually requires external embedment.

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Much like Microsoft Word had a model for GUI-based word processing in MacWrite, touch-optimized office suites have been developed by or snapped up by Microsoft's competitors, including Apple ( iWork), Google ( QuickOffice) and RIM ( Docs To Go).

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That will be the most basic model, doing the computing and word processing tasks of today's PCs as well as such functions as accessing the Internet.

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But defenders of the model answer that a silo, with its straight-through processing, brings greater efficiencies.

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MySQL's lighter-weight database system may also fit into Sun's ambitions of becoming a major player in "utility computing, " a model of information technology infrastructure that pipes in software applications, processing and storage over the Internet rather than from a company's own data centers.

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American Express says it is uniquely positioned to offer the service thanks to its "closed-loop" business model in which it acts as card issuer, merchant acquirer and payment processing operator.

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While that may be good for the future of bitcoin, it alters the business model for payment processors like BitPay because they are forced to rely more on the Bitcoin-only processing spread which is justified by customer support and user-friendly plugins.

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