30 Sep '13, 4pm

Bitcoin's role in the future of micropayments - CoinDesk

Bitcoin's role in the future of micropayments - CoinDesk

Different payment processors have different opinions on the definition of a microtransaction , commonly known as a miniscule payment for a good or service. Small businesses in the US like to require that customers make at least a $10 transaction on a credit or debit card. That’s because some processors charge more for smaller transactions in order to make money on every purchase. PayPal, for example, sets its fees higher when payments are below $12, which it considers a microtransaction . Paypal’s normal rate is 2.9% + $0.30, while there is a higher 5% + $0.05 micropayments rate. Can it really be considered that something below twelve dollars is a microtransaction? Perhaps that rate is an example of how far there is to go in the payments industry for processing small amounts of money, although it is fair to point out that processors need to generate revenue from each payme...

Full article: http://www.coindesk.com/bitcoins-role-future-micropayments/

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