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Is there any reason there is not a popular micropayments solution i.e. <= $1? It seems like there’s plenty of use cases but I’m not aware of any popular platfo
by Hammerhead12321 3y ago
Is there any reason there is not a popular micropayments solution i.e. <= $1?
It seems like there’s plenty of use cases but I’m not aware of any popular platforms that make it feasible with their fees. I assume there are a bunch of costs associated with processing those cc payments but surely they aren’t large enough to make in infeasible to process small payments.
- input_sh 3y agoAt least a part of the answer is that your service would end up being used to test stolen credit cards.
- jfoster 3y agoOne micro-transaction doesn't need to imply one credit card transaction. A micropayments solution could work like PayPal, whereby every user has a balance. Then it's just database transactions within their own system. The tricky part is the chicken-egg problem; does user adoption or developer adoption come first? I expect that one of the existing major tech companies would need to do it. Apple, Google, Microsoft: Can build it into their browser, and are already facilitating payments via their app stores and existing user accounts. Stripe: Already have the developer adoption in Stripe checkout. The limiting factor might be CS & disputes. There is an average support cost of transactions, and it might be higher than what they could make on fees. I think some automation could bring that cost down in the future as well, though.
- outcoldman 3y agoAs a developer that is the worst price model to be in. If you don’t use a stores like Apple Store. The issue is state taxes. Some states require to file taxes when you reach N amount of sold good in USD. But some actually for number of transactions. Like 100-1000. So imagine if you sold 100 for $100 now you have to spend all of those money to figure out taxes situation in that state.