With big-name authors in tow, Amazon has announced some micro content for a micro price. This seems like good news for micropayments. There are many definitions of micropayments. To me it means an amount of money so trivial that the credit card transaction fees prohibit one from collecting much–or any–of the payment.
If the web can figure out how to get past the fee obstacle (ex: 30 cents plus 2.9% from Paypal), micropayments could be the kind of volume smaller publishers need to make some good dough.
How are Amazon and Danielle Steel going to make money for the little guy? They won’t. However, Amazon does seem willing to accept micro content from other publishers.
Once you are accepted into the Amazon Shorts program, you are free to contribute as many pieces as you wish. We are especially interested in getting new material from you on a regular basis.
Just that Amazon is mainstreaming the concept of paying a tiny amount of money for a small article seems good for micropayments. The fact that they seem to be pocketing the entire 49 cents is moot (and temporary, I’d gauge).
The first step for micropayments to work is for someone to just do it: sell an article for 50 cents and only make 15. Once the demand is there, we’ll see those transaction fees decrease. Amazon has done us all a favor by providing the arsenal of their huge marketplace.