PortoMedia, a startup based in Ireland, aspires to revolutionize the movie rental market. The company plans to set up kiosks that will allow consumers to download movies to a memory or portable hard drive.

PortoMedia has developed a high speed flash memory card (Movie Key) that enables a fully secure DVD quality movie to be downloaded from retail Movie Point in less than 15 seconds. Each Movie Point is loaded with between 500 and 5,000 titles and is refreshed regularly via satellite/DSL with the latest movie and TV content.

The consumer has the option to rent or purchase content. The content is protected by Windows DRM, guaranteeing both security and compatibility with a wide range of playback devices. We will offer a low cost reader/ set top box that attaches to a TV allowing the consumer to simply plug in the key and press play to view the movie on the big screen TV. [PortoMedia]

Users will plug in a USB memory device from PortoMedia, enter a PIN code, and download a movie. At home, customers simply slide the memory device into a dock connected to a PC or TV.

The key to the service is the proprietary USB interface that transfers data at a faster rate than standard USB devices. Movies can be loaded into a memory device in less than a minute, depending on the length, definition and chip speed.

The hardware will be sold in package with movies. The starting hardware set will be sold for around $60, and comes with a flash key, a dock, and six movies. A higher end pack will provide a handheld with a 1.8 inch hybrid hard drive with 240 GB of storage and 12 movies.