What are micropayments, exactly?
Micropayment is generally defined as the means of transferring small amounts of money (usually in pennies, nickel or dimes), usually in purchasing digital contents like music, movies, games and others. Since charging such small amounts through the customary payment system like credit cards is impractical, the micropayment system is a viable option for those websites that wish to go “micro”. The main objective of micropayments is to target a high volume of consumers by offering content at a relatively low price. It is also usual for micropayment systems to accumulate several payments and then charge it in one regular payment. Most micropayments advocates firmly believe that the micropayment system is the solution to the free rider problem for those sites that are solely dependent on advertising. As for websites that are charging subscription fees, micropayments will be a viable alternative in order to increase the number of their consumers. However, regardless of all the benefits that m
