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Micropayments: challengesand trends - Essay Example

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The paper “Micropayments: Challenges and Trends” discusses the advantages and disadvantages of micropayment based system. Although the micropayment based system has several advantages there are also certain disadvantages that are associated like technical, social and economic issues…
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Micropayments: challengesand trends
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Micropayments: challengesand trends

Download file to see previous pages... However, while going in for practical implication it was found that the micropayments involving such small amount was hardly feasible and a viable business model. One of the simple issues those hiders the success of micropayment transactions of such low value is the incide4nce of transaction fee. The major problem in the implementation of micropayments is this transaction fee. Since micropayments involve such small amount, so transaction fees, even if of the order of few cents has a very negative impact. Different companies define micropayments differently. Pay Pal for example states that transactions less that 10$ classify as micropayments where as Visa says that transactions less that 12 Australian $ classify as micropayment. Background studies Micro payments were envisaged to be small payments that are used for selling online content to its consumers. The business model used in micro payments is used for replacing the traditional model. The main idea is that the users of this model have easily access the services and the articles that are required by the users. The income that is derived from the micropayment mainly supplements the income from the advertisement. The micro payment system is likely to be considered for providing the right solution in earning the money online.  Media companies do not progress in the world where the micro payment system is not able to make money.  In order to make necessary payments to the people the publishers are required to increase and develop the relevance. ...Download file to see next pagesRead More
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