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What is a micropayment?

What is a micropayment? Here are some definitions.

Noun
  1. (economics) A financial transaction for a very small amount of money
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Examples
A few micropayment schemes are basically intermediaries that are brokering your microtransaction.
The basic idea behind micropayment systems are that consumers pay a small amount of money for each item of content downloaded.
Dragonpay brings micropayment processing to mainstream e-commerce through its online payment services.
None of this will matter once everything is digitized and it's all ephemerally available on demand for some micropayment.
There has been recent confusion about the micropayment approach Bill Gates outlined that is important to clarify.
A micropayment system is an electronic payment system aimed at providing low-value and high-volume transactions.

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