Define micro electronic payment and its role in E-Commerce?

1.	Define micro electronic payment and its role in E-Commerce?
Answer» 1. It is an on-line payment system designed to allow efficient and frequent payments of small amounts. 2. In order to keep transaction costs very low, the communication and computational costs are minimized here. 3. The security of micro electronic payment systems is comparatively low 4. The majority of micro electronic payment systems were designed to pay for simple goods on the Internet, e.g., subscriptions of online games, read journals, listen to a song or watch a movie online etc.

Answer»

1. It is an on-line payment system designed to allow efficient and frequent payments of small amounts.

2. In order to keep transaction costs very low, the communication and computational costs are minimized here.

3. The security of micro electronic payment systems is comparatively low

4. The majority of micro electronic payment systems were designed to pay for simple goods on the Internet,

e.g., subscriptions of online games, read journals, listen to a song or watch a movie online etc.

Discussion