One crucial part of micropayments is the fact that its definition differs from person to person. Generally, micropayments are considered as financial transactions concerning very small sums of money. Globally, micropayments make reference to transactions of less than 12 USD.

In accordance with techtarget.com, a micropayment is an e-commerce exchange involving a tiny amount of money in change for anything built accessible on line, such as for instance an application acquire, something or Web-based content.Micropayments are too small to be possible for handling through the traditional credit card/debit card system 신용카드 현금화.

Amir Herzberg of IBM recounts "Micropayments are for such a thing that's too low priced to pay for by credit card".The significant problem experiencing the probable application of micropayments is the necessity to hold expenses for running specific transactions reduced that will be impractical when transacting tiny sums of money common of the type of the micropayment system.

Several attempts have already been produced to produce such techniques financially feasible to the providers such as the bill to phone product that businesses like Zong and Boku have employed. The statement to phone guarantees that people can charge reduced value transactions with their cellular phone and are delivered a deal rule by SMS to perform the transaction.

But, the discussing formula that exists involving the services of the micropayment software and the Portable System Operators (MNOs) is essentially maybe not in favor of the services, it has been the key reason for the gradual usage globally.