Called Portomedia, the start up plans to offer movies via a proprietary USB flash drive and reader, with a supposed ultra fast download/upload speed (95 Mbps). To obtain movies – you can either rent or buy – you must visit one of the company’s touch screen kiosks that’ll be found in supermarkets, etc. At the kiosk, which contains 100s of movies on hard drives, you insert the flash drive, enter payment, and the movie is transferred in less than a minute. Currently their site doesn’t detail cost and expiration time of the rentals. They company is based out of Ireland, so don’t expect it state side any time soon.
More info here.