What is the definition of a micropayment?

A micropayment is defined as a small payment made each time a user accesses an Internet page or service. This concept arose with the growth of online content and services, allowing users to pay for specific content or features rather than making larger payments for subscriptions or one-time services. Micropayments enable businesses to monetize services that might otherwise be considered too cheap to charge for individually, such as accessing an article, downloading a single song, or using an app feature for a short period.

This method of payment aligns well with the current digital economy, where consumers are accustomed to paying small amounts frequently rather than committing to larger, periodic costs. As a result, micropayments can enhance user engagement by lowering the barrier to entry for obtaining content or services, thus making it easier for users to spend money on digital products incrementally.