3 ms·
What I really want to know is why there are no micropayments currently? Is it just greed on the providers side or some kind of technical limitation? I am not tr
by weaksauce 17y ago
What I really want to know is why there are no micropayments currently? Is it just greed on the providers side or some kind of technical limitation? I am not trying to be inflamatory but I am genuinely curious what is holding this back.
- sethg 17y agoDaniel Davies once pointed out that much of the cost of maintaining the credit-card payment infrastructure scales by number of transactions, not their dollar value. It costs just as much for the issuer to process a dispute over a $1 charge as for a $100 charge.
- Devilboy 17y agoVisa and Mastercard control most of all the credit card transactions in the world and they both charge merchants a percentage (e.g. 1.5%) PLUS a small fixed fee (e.g. 40c). It's that small fixed fee that makes it pointless for $1 transactions cause you just lose too much.