Cash Exchange via Micropayment
A micropayment소액결제현금화 is just a transaction that includes commercials online for a small amount. In business, it is to buy or sell information for a small amount. Transaction expenses are very small for e-commerce business and it is the major challenge. In these payment methods, there are various types and they are:
Prepay model
This model is used to allow the user to access subscriptions for a certain amount of time. Some sites like online games, social media are used for advanced payment. It has a major advantage and it gives gift coupons for customers to attract them and they cover the expenses for the business. On the other side, this model also has one drawback and that is to customers will have to decrease the payment. This model will record all the payment details for the e-commerce business for the rest of the credit.
Post-pay model
In this approach, every transaction must be charged after the completion. For example- online music sales are charging nowadays only after each song is purchased in online mode. Some businesses are combined for this approach with the prepay model. It also has one major pro, don’t need to pay in advance.
Collaborative model
This model is the most famous in the micropayment method. One link can be published in many sites for online publishers with business collaboration. A lucrative micropayment is not used for all online publishers. Thomas baked name the model as an Associated micropayment system because to develop and resemble the associated press. It also one advantage, it can make additional financial gain for content to an online publishing business.
Pay-as-you-go model
This payment type shows the meaning in the name itself. It indicates the payment to every transaction. In practical terms, this technique is so expensive for the sales method and it will decrease the profit in business. Customers have to pay only for the wish, it was the major advantage for this model. On the other side, we can’t assure the profit to this approach and sometimes it leads to more loss in all transactions.
This model shows that to make a customer or client use Cryptocurrency or micropayment effectively and easily in daily life. In reality, fees will be a major drawback for micropayment that could be eliminated the Cryptocurrency.
Pros in micropayment
In online, financial transactions are conducted with the help of anonymity. Virtual and real products can be purchased in a very quick manner and a short period. Accommodation of new products and services can be easily accepted by the micropayment method. Theft or abuse case is gets decreased while using online payment like micropayment.
Drawbacks
The account can be a hack if it contains sensitive information. Sometimes account holders can lose the investment due to dishonesty. In this method, the combined purchase may contain less cost while compared to single purchases. Micropayment will increase the expansion and it leads to more expenses in auditing.
These payments method will not be used for all kinds of people, only educated or business persons use this payment to make a transaction. Its have many advantages as same as disadvantage also. Now, this payment method is not popular worldwide as compared to other types of payment methods.
