1 Feb 2017

Need For More Micropayment Services Across Industries

Submitted by LMP
Ecommerce. Image by Lawson Media & Publishing in Southern Minnesota/Twin Cites/Mankato, MN.

SOUTHERN MINNESOTA — The game Oregon Trail was developed here at the University of Minnesota, as was the precursor to Internet browsing that eventually led to services like Netscape. Actually, Gopher as it was called, was a competitor to the worldwide web, according to an MPR report. Developers have provided us with so much, but hinderance in the marketplace sometimes limits to potential or the time it takes for ideas to fully come to reality in full fruition (VR is a great example).

Amazon, Apple, Google and Facebook have brought mircropayments to consumers through their massive network of users in the applications marketplace. Windows is a major player but late the mobile, visual/interactive based and app-based culture/future of this technological marketing opportunity with their Windows Mobile, then Windows Phone and Surface products. Now Windows 10 is an example of something still in between but they are getting there. They did buy Nokia, an excellent company in terms of design and brand quality from Europe. It hasn't helped Mircosoft much yet and Nokia may have been better off on its own, at least for Europeans' jobs sake.

The bottom line is that this monopoly on micropayments does not have to exist now or in the future. More investement can flow into creating services to facilitate micropayment processing. It is also a better idea for sites that offer software, especially software that is novel or has a very specific purpose, not worth an entire premium subscription model. Those sites often do not monetize well because, even with the addition of ad revenue, do not generate enough paid subscriber-users. There is no loyalty because users see little value. A micropayment solution would solve the problem. For further reading on this topic, see this LinkedIn post.

The future is ripe for opportunities in digital pay systems that offer micropayments, mobile payments, social payments and other forms of funding, financing, lending and payments. BitCoin's development will likely continue to grow as platforms like ApplePay, Google Wallet, PayPal and other become more common all the time. Square, Shopify and other platforms are also making commerce easier for businesses to get online and start selling. A local component can also be part of the equation with the right programs for fulfillment, loyalty and reputation in place.

Just take a look at the marketplace for video games: like DVD/Blu-Ray video, you still find games in the aisles of the big box department stores and retail chains. However, the game consoles and developers are also partnered to offer that same digital content available for download and storage in the cloud or backup on the machine itself. Micropayments also facilitate payment for mini-games, power-ups or other goodies.

Imagine your digital or tangible product offerings sold in the same way. With enough creative force and idea generation, many eccommerce scenarios are possible for your business, even locally. Get in touch with Lawson Media and Publishing to discover ways to monetize your products or services. LMP will continue to work within the reasonable bounds with the available resources to provide the best and most effective solution for your company's needs.

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