Boston, MA -- (SBWIRE) -- 06/16/2012 -- Micropayments are transactions with a low value, but the exact definition depends on the business case and the target group. This report considers low value payments to be transactions below EUR5/$6.50/GBP4, based on The Economist magazine's historical averages for 2010. It defines micropayments as transactions that take place online or on a mobile, are paid in real-time or deferred and deliver a virtual good instantly.
The key driver for micropayments is the shift from face-to-face, physical payments to the monetisation of digital content, and the emergence of new business models. The micropayments opportunity lies especially deep in the internet. Products such as data, music, software or particular services can be easily and quickly downloaded - often for a fraction of the 'physical' price.
No emerging micropayment payment processing service to date has been able to deliver the same complete set of characteristics to truly and completely address each stage of the micropayment experience. However, the vast majority of providers of payment infrastructure, both incumbents and new entrants, share a common perception that there is the need for a universal payment platform.
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There are a number of 'success factors' necessary for a successful micropayments solution. They include
- Tailoring the business model to suit the type of product and type of consumer
- Developing a cost-effective solution
- Providing consumers with a secure, widely accepted and easy-to-use payment method
- Gaining critical mass quickly
Micropayments did not exist before the turn of this century. This report encapsulates the latest thinking on this fast changing subject. It includes
- An assessment on the potential scope of the market
- An examination of the enablers - looking at social media and mobile apps
- M-commerce, e-commerce and m-wallets
- Case studies in Latin America, Africa, as well as Europe
Reasons to Get this Report
There is a gap in the market for a micropayments mechanism that allows the sale of single items in addition to subscription-based business models
- Use this report as part of the essential research which will help aid in the development of this mechanism
- Examine the changing spending habits of consumers over the last 15 years
- Gauge the opportunities for the development of micropayments processing technology
- Predict the future shape of the market and how the payments landscape will change over the next few years
- Discover the business case for micropayments
Companies Mentioned in this Report: Facebook, ZunguZ, iZettle, Vodafone, M-Pesa, Fundamo, Zynga, Vindici
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