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Micropayments – massive growth

Posted by Michael Bloch in ecommerce (Wednesday January 4, 2006 )

The number of Americans having purchased goods or services online that cost $2 or under has increased dramatically in recent years.

A survey by Peppercoin, a micropayments processor and Ipsos, a marketing firm states that almost 20 million Americans aged 12+ have made an online purchase of an item with a value of less than $2 over the past year. That represents a 29% increase from September 2004 and a massive 350% increase from October 2003. Somewhere around 10 percent of those people did so from six or more different online merchants.

Additionally, the report estimates that 45 million Americans are comfortable using credit or debit cards for purchases of $5 or under.
Why the huge growth? Most of it can be attributed to the availability of content such as ringtones, music and other premium digital content coupled with a decrease in transaction fees for merchants making it possible to have this content available in an ecommerce environment.

Do you have digital content or goods with broad appeal that you can sell online for under 5 bucks? If so, there’s a possible market slice comprising 45 million people waiting for you!

Read more results from the Peppercoin and Ipsos micropayments report.



 

 
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