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Micropayments

COINS (c) Justmeyo | Dreamstime.comMicropayments (also known as Wallet systems) are extremely small payments made online which are too small to be handled by credit card. Fractions of a penny or cent can be used to buy, for example, a news item from an online newspaper, a stock market quote or a graphic or cartoon.

To justify a large bill, consumers are often required to purchase multiple products or a bundle with unwanted products. Information brokers of these low cost items have in the past suffered from inadequate payment systems and high overhead costs of processing credit card transactions, but micropayment systems have been created to overcome these problems

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