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It seems like one of the prerequisites for a workable micropayment system is an overhaul of interbank payment processing system or establishment of a new one. I
by thirdhaf 15y ago
It seems like one of the prerequisites for a workable micropayment system is an overhaul of interbank payment processing system or establishment of a new one. I have absolutely no knowledge of the current system but I'd be shocked if the same system that manages $100k+ transactions and the risks associated with that can cost effectively process transactions in the <10c range.
There was a comment on the same level as this one referring to flattr.com which seems to be one attempt at a micropayment system. Does anyone have experience with this service or failing that an idea why that comment got absolutely buried under downvotes?
- michaelchisari 15y agoI have an idea on how to handle it in bulk payments, as opposed to individualized transactions. But really, this is not the kind of space where a startup could compete. You'd need someone with the legal and financial backing the size of Google to make it happen.
- icebraining 15y agoFlattr does exactly that (bulk payments). It's just not well adapted for payments since you don't pay a fixed amount to each website but a fraction of a certain fixed amount divided by all the buttons you've clicked on that month.
- alexkay 15y agoMy comment wasn't downvoted, it was automatically deleted (as were most of my recent comments). If HN admins read this, I would be grateful if you could check why it's happening. As for the actual question, to succeed Flattr needs a significantly larger user base. I use it for an open-source project of mine and have got only a couple of flattrs so far, even though the downloads are measured in thousands.