Comments on: Thoughts on why micropayments are a dangerous delusion http://patthorntonfiles.com/blog/2009/09/22/thoughts-on-why-micropayments-are-a-dangerous-delusion/ Random musings from a technologist Wed, 06 Apr 2011 15:43:00 +0000 hourly 1 http://wordpress.org/?v=3.1 By: This week in media musings: Shirky speaks, and three new projects to watch | Mark Coddington http://patthorntonfiles.com/blog/2009/09/22/thoughts-on-why-micropayments-are-a-dangerous-delusion/comment-page-1/#comment-6681 This week in media musings: Shirky speaks, and three new projects to watch | Mark Coddington Mon, 28 Sep 2009 16:30:42 +0000 http://patthorntonfiles.com/blog/?p=1439#comment-6681 [...] doesn’t like them because newspapers don’t have a monopoly on their industry anymore. Pat Thornton agrees and offers a few more reasons why they’re a “dangerous [...] [...] doesn’t like them because newspapers don’t have a monopoly on their industry anymore. Pat Thornton agrees and offers a few more reasons why they’re a “dangerous [...]

]]> By: Notes on Nicholas Carr | Hypercrit http://patthorntonfiles.com/blog/2009/09/22/thoughts-on-why-micropayments-are-a-dangerous-delusion/comment-page-1/#comment-6676 Notes on Nicholas Carr | Hypercrit Sat, 26 Sep 2009 19:39:05 +0000 http://patthorntonfiles.com/blog/?p=1439#comment-6676 [...] a side note, Patrick Thornton has some good money-related argu­ments against the iTunes model that put another nail in that cof­fin. For a dose of the other side, Marc [...] [...] a side note, Patrick Thornton has some good money-related argu­ments against the iTunes model that put another nail in that cof­fin. For a dose of the other side, Marc [...]

]]> By: Why it’s bad to cite iTunes as proof that micropayments will work | Hypercrit http://patthorntonfiles.com/blog/2009/09/22/thoughts-on-why-micropayments-are-a-dangerous-delusion/comment-page-1/#comment-6667 Why it’s bad to cite iTunes as proof that micropayments will work | Hypercrit Thu, 24 Sep 2009 04:01:17 +0000 http://patthorntonfiles.com/blog/?p=1439#comment-6667 [...] Thornton’s arti­cle for a few other good argu­ments against micropayments. Share and [...] [...] Thornton’s arti­cle for a few other good argu­ments against micropayments. Share and [...]

]]> By: Marc Glasberg http://patthorntonfiles.com/blog/2009/09/22/thoughts-on-why-micropayments-are-a-dangerous-delusion/comment-page-1/#comment-6666 Marc Glasberg Thu, 24 Sep 2009 01:35:40 +0000 http://patthorntonfiles.com/blog/?p=1439#comment-6666 Pat: Instead of charging 3 cents for an article you may charge 30 cents for a day-pass. This is what I call a micro-subscription (it's something between a micropayment and a regular subscription, but still in the micropayments range of price). About having a single micropayments account, you don't need one if you can micropay with the payment system you already use. In other words, if you can use a micropayment platform that aggregates regular payment systems, like PayPal and others. This platform would have to make these regular payment systems work for micropayments, but it would not be a payment system itself. We have developed such a platform: iCents.net The real problem with micropayments is the mental transaction costs, as Nick Szabo and Clay Shirky explained. I'll invite you to have a look to this essay where I discuss how to deal with the mental transaction costs and create a market for micropayments: http://www.icents.net/en/website/TheNewCaseForMicropayments2009.html Cheers, Marc. Pat:

Instead of charging 3 cents for an article you may charge 30 cents for a day-pass. This is what I call a micro-subscription (it’s something between a micropayment and a regular subscription, but still in the micropayments range of price).

About having a single micropayments account, you don’t need one if you can micropay with the payment system you already use. In other words, if you can use a micropayment platform that aggregates regular payment systems, like PayPal and others. This platform would have to make these regular payment systems work for micropayments, but it would not be a payment system itself. We have developed such a platform: iCents.net

The real problem with micropayments is the mental transaction costs, as Nick Szabo and Clay Shirky explained. I’ll invite you to have a look to this essay where I discuss how to deal with the mental transaction costs and create a market for micropayments: http://www.icents.net/en/website/TheNewCaseForMicropayments2009.html

Cheers,
Marc.

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