Wow! This is exciting and a small confirmation of what I’ve already suspected. There is a market out there for small ticket items. Yes, in this day and age where products cost $47, $97, hundreds or thousands of dollars it seems kinda the opposite of what everyone else is talking about.
Earlier this year, I made a this entry going in depth about my thoughts of micropayment. While I do agree with my friend Paulie about lower price points somehow tend to attract more complaints (this I recently experienced for myself) however micropayments aren’t really about lower price points. It’s about making your product bite-sized.
It’s happened already in the music industry where people prefer to buy tracks that they want and not what sellers (artists) think people want. In my previous entry I talked about how you can actually charge more with micropayments. I hope you get to go through that entry and share your thoughts with me. I’d really like to hear what everyone else thinks – is there money in micropayments?
Meanwhile, here’s the press release from PayPal
