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The rise of Micropayments

Posted By Darren Rowse 12th of October 2004 Advertising

Clickz has an interesting study into the rise of micropayments which might be of interest to some bloggers. My experience of blogging is that its hard to get much in the way of big payments in one’s income stream but that one way forward that many of us are exploring is to generate many small payments which all add up to something more substantial. If you could get each person who visits your site to pay (whether directly or via advertising) a few cents – over time it would add up. Micropayments in my opinion could be the way of the future and are a particularly relevant topic for ProBloggers. The article reads:

‘A study of 1,112 Americans aged 12 and older, conducted by Peppercoin and Ipsos-Reid, found 17 percent of survey respondents saying they’d use a non-cash form of payment (credit, debit or charge card) for purchases under $5. That percentage, according to the pollster, equates to some 37 million Americans.

The survey also found more than 14 million Americans made digital content purchases in the past year for less than $2. That represents a 350 percent increase over the previous year (2003 — 4 million; 2004 — 14 million). Of the 14 million people who purchased items costing under $2, approximately 1.4 million consumers purchased such items from five or more Web sites.

“In the physical world, we were surprised to see how much value and benefit consumers realize from using credit cards. They want to use them for their everyday purchases,” Perry Solomon, VP of strategy and co-founder of Peppercoin, told ClickZ Stats. “Specifically, they want to use them for the everyday purchases that they make many times a month, such as for coffee, fast food, vending and parking. This shows that consumers feel comfortable with the speed, convenience and security of electronic payments.”‘ Read more.

About Darren Rowse
Darren Rowse is the founder and editor of ProBlogger Blog Tips and Digital Photography School. Learn more about him here and connect with him on Twitter, Facebook, Google+ and LinkedIn.
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