Quote:
Originally Posted by DaleDe
Well, I guess that since you originally brought up the issue in this thread you will have to define what you meant  |
Actually, GregS brought it up. I just picked up the ball!
When I talk about micropay, I'm talking about a system wherein I can buy a single item for a fraction of a cent, say, 15 hundredths of a cent, or 0.0015 dollars, and be charged precisely 0.0015 dollars. I don't know any system that doesn't simply round up to the nearest standard increment (0.01 dollars, or 1 cent) when making such transactions, including mass purchases by industries and manufacturers who regularly deal with small items worth a fraction of a cent. I'm pretty sure no retailer does it with consumers without rounding up to the nearest cent.
The micropay you've been talking about is "very low prices," but still prices rounded to the nearest standard increment. What Amazon and Fictionwise are doing, is not what I'd call micropay, just "very low prices," achieved by absorbing fees themselves and not passing them on.
Somebody please let me know if my use of the terminology is wrong, or if someone's using an actual micropayment system that I don't know about.