“After more than 20 years in operation, once popular software payments processor Kagi [on Sunday] announced on its home page that it has shut down effectively immediately,” Eric Slivka reports for MacRumors.

“Longtime Mac users are probably familiar with Kagi, which assisted numerous small developers in accepting credit card payments from users,” Slivka reports. “Kagi arose in the 1990s on the popularity of shareware, which allowed developers to widely distribute their software with time or feature limits as trial versions and then offer unlock codes for a fee to open up full functionality.”

“With the evolution of payment processing in the form of PayPal and Stripe, Kagi’s popularity waned, though it continued to be used by a number of small developers,” Slivka reports. “Ultimately, however, that user base was not enough to sustain the service, with founder Kee Nethery also citing a decade-old case of supplier fraud that Kagi was never able to recover from as a major reason for finally closing down.”

More info in the full article here.

MacDailyNews Take: Wow, there’s a blast from the past!

R.I.P., Kagi.

[Thanks to MacDailyNews Reader “Frank” for the heads up.]