Definition of "micropayments" [micropayments]

• Plural form of micropayment. (noun)

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• "The notion of micropayments is that users could either automatically or with a simple click pay a web site a small amount, typically well under a dollar, to view an article or to reward the site."
• "In market size terms, the potential for POS-based micropayments is very large, with the electronification of unattended purchases seen as a ‘killer application’ for small payments at vending machines, parking meters, laundries and pay-phones."
• "While the market size for POS micropayments is estimated by the FRB Philadelphia at about $160 billion, vending machines in 2004 were estimated by the Journal of Payment Systems Law to have taken in $24 billion in cash and coins at the POS."