Definition of "microtransaction" [microtransaction]

• A transaction for a very small amount of money (a micropayment). (noun)

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• "The "microtransaction" business, big in South Korea, will take off this year in North America, he predicts."
• "With the introduction of in-app payments earlier this month, iPhone developers will now have the perfect microtransaction system to build [...]"
• "Here's some data from a 2006 paper by MacInnes et al figure 4 in which 1,247 gamers from Korea were interviewed about their microtransaction spend per year:"