Micropayment is quickly becoming the go-to payment model in a world where users only want to pay the amount they need.
In a micropayment system, both buyer and business will need to register, and a service provider mediates and passes on the product while approving payment.
Micropayment cash, or 소액결제현금화 benefits both sides as the purchaser won’t have to overextend their purchases, while businesses get revenue on their products or services, no matter how small the amount.
Here are 5 more examples within the micropayment platform.
Media
When you want to watch a movie or a sporting event broadcast live on your device, you can pay a dollar or minimal amount and get to watch it without interruptions, such as ads or commercials.
The same goes in just about any media content. You can read a newspaper article that’s locked behind a paywall, for example.
Art
Artists can collaborate and form a bundle where they sell their art pieces together for a set amount of money.
Also, they can create a web portal where you can donate a pre-set amount to a favorite artist.
Virtual Items
Popular in online games and apps, virtual items allow the player to stand out with exclusive weapons, armor or costumes.
Virtual items can apply in social media platforms, apps and games and serve as a vanity for those who want them. These items may be cosmetic or serve a function with an added edge.
Donations
Charitable institutions and organizations often have micropayment setups in their websites where people can donate small amounts. This model can also be subscription-based, where the person donates a set amount, say $5 every month to the charity of his or her choice.
Software
Software can have that ‘pay as you go’ model without having to charge recurring or upfront fees.