A micro purchase is a purchase valued less than $5 and conducted electronically, where the settlement can be either prepaid, by subscription, on-the-spot, or invoiced. According to Gartner, three intersecting major trends are driving microcommerce. First, more buyers and sellers can now easily locate each other through PC-based e-commerce and increasingly through m-commerce on wireless networks. Second, completing small transactions electronically is low cost. Finally, automatic location identification for targeted content and services is growing more prevalent and sophisticated. Companies should identify whether their organization can leverage mobile and micropayment processes to economically deliver or consume services delivered in much smaller units. The availability of better micropayment systems, mobile connectivity, authentication, and more-granular products and services will transform todays commercial landscape.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now