Tearsheet

MAY 29, 2024

From marketplaces and microtransactions to convenience stores and quick-serve businesses, commerce has evolved, outpacing payments innovation over the past decade. From microtransactions to small transaction volume payments, purchases like a $4 latte can incur additional costs exceeding 12.5% — a massive burden on businesses.

Microtransactions

PYMNTS

JULY 18, 2016

Twitch has already scored similarly trend-heavy hits with streamed content and, ironically, a return of Bob Ross’ “The Joy of Painting.” A few weeks ago, Amazon added a microtransaction system to the Twitch platform called “Bits.”

Microtransactions

PayHawk

APRIL 18, 2023

Microtransaction A very small transaction, typically less than $1, that is processed electronically. R Refund The process of returning funds to the cardholder’s account for a previous transaction. Merchant Category Code (MCC) A four-digit code that identifies the type of business for which a merchant account is used.

Process

PYMNTS

JUNE 18, 2019

That leaves one use case: microtransactions. Facebook doesn’t necessarily want to do that but regulators are suggesting that Facebook shouldn’t be getting all that valuable consumer data for free (of course, users are getting Facebook for free in return, but that value exchange doesn’t seem to register with the regulators).

Payments