Micropayments: what defines these?

 

You must have heard of the term micropayments? These are so popular for online buying nowadays. If you do not have much information about them, this article will break it all down for you. These financial transactions are defined by various characteristics, the first one being that they are small. While the maximum payment varies according to different fintech providers, the general amount is below than $10. However, it must be noted that these operations are conducted on the Web and usually in large volumes. Online shoppers will be pleased to know that the transaction fees are very small.


Micropayments are processed online  ©Royalty-free image

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