Since the pioneering days of the internet, the e-commerce industry has grown as rapidly and enormously as it needs services. The world is integrated in the wide range of e-businesses entering the online industry and the competition is growing. With these growths, price wars have shifted from local roads to the internet’s “Super Highway.” Under these conditions, vendors have experienced the necessity to process transactions of any size, from major purchases to smallest items or micro-transactions. Another variation of the online service provider has been introduced.
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Micropayment transactions involve very small amounts of money. Micropayments were initially designed to permit the sale of online content and only few cents were envisaged. These transactions allow people to sell content and to sell games online nowadays and are an alternative to advertising revenues. E-companies and social networks continue to develop products and entertainment services in today’s business world, attracting more and more people and increasing the interest of potential world audiences.
With this growing interest in social networks and online gaming, solutions were required to resolve monetization systems so that the companies involved can recover their investment and benefit from this rapidly growing phenomenon. This drive leads e-commerce providers to provide solutions especially for the social networks and the online gaming industry (MMO or MMOG).
The growing markets have provided a constantly growing marketplace for software and digital content developers to sell their products and services online. The online payment providers, in turn, have evolved to include this growth and become the so-called “full e-commerce service.” This designation enables the general public to be aware that they offer online shopping or transaction solutions.
As technology progresses, sound solutions for micro payments and e-commerce platforms are needed to support them. This technology has yet to reach a peak so that there are endless possibilities. One practice of providers of e-commerce service today is to incorporate in their E-Commerce platform the features and ability to process micropayments or micro-transactions. This combination of features has proved particularly profitable for the supplier who sells online software.