Monday, September 14, 2009

Your penny for my two cents: micropayments on the web

Even if you are prepared to pay a penny for my thoughts, the transaction costs would likely deter you, unless the payment can be made automatically. This is the problem facing micropayments in particular, and it makes it hard for newspapers to charge for news.

Harvard's Neiman Journalism Lab reports on Google's marketplace proposal, which would allow customers to maintain a Google account that could be billed without requiring the customer to maintain accounts or reveal information to each content provider: Google developing a micropayment platform and pitching newspapers: “‘Open’ need not mean free”

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