The future prospects of micropayments, a form of electronic commerce of small payments, is discussed. Micropayment systems tend to collect 15 percent of the amount transferred, but with no minimum charge, thus they can support small sales like 25 or 50 cents, which other payment systems cannot handle. It is noted that when buying telephone service for example, people frequently buy unlimited monthly service even if per-call service would be cheaper. The hope is that small or non-existent minimum charges will make it practical to sell things online for a few cents, implying that micropayments are going to be the technology of the future.
All Science Journal Classification (ASJC) codes
- Computer Networks and Communications
- Electrical and Electronic Engineering