A micro payment is an online transaction done for a very small denomination, usually less than $1. Dotcommerce has developed an online payment system which supports charging relatively small amounts for online content or services. Here the speed and cost of processing payments are critical factors in assessing schemes usability. Fast user response is essential if the user is to be encouraged to make a large number of purchases. Processing and storage requirements placed on micro payment providers and vendors must be economic for low value transactions. Common examples of micro payments are music downloads, news stories, and Web-based services such as translations and image processing.
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A micro payment is an online transaction done for a very small denomination, usually less than $1. Dotcommerce has developed an online payment system which supports charging relatively small amounts for online content or services. Here the speed and cost of processing payments are critical factors in assessing schemes usability. Fast user response is essential if the user is to be encouraged to make a large number of purchases. Processing and storage requirements placed on micro payment providers and vendors must be economic for low value transactions. Common examples of micro payments are music downloads, news stories, and Web-based services such as translations and image processing.