A low-cost financial transaction paid with an e-wallet or via an online service such as PayPal. Micropayments enable the sale of digital content, like music, archived news stories and photographs, for as low as a penny.
A micropayment is any kind of Internet transaction that is for a very small amount, such as a subscription or pay-for-research service. For example, Apple Computer's iTunes online music service, which charges 99 cents a song, is a form of micropayment.
NetLingo Classification: Online Business