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PayPal Unveils Micropayments Product

Micropayments, and their potential impact on the digital landscape, have been bandied about for years. Hoping to finally realize some of that potential, PayPal on Tuesday debuted a micropayments product, which it describes as an "in-context, frictionless payment solution that lets consumers pay for digital goods and content in as little as two clicks, without ever having to leave a publisher's game, news, music, video or media site." According to TechCrunch, "Pricing is set at 5 percent plus 5 cents for purchases under $12."

Meanwhile, as TechCrunch insists, "This product is huge for the payments industry because it can be used for an easier payments experience across a variety of industries, including gaming, online content and premium video." Launch partners include Autosport.com, FT.com, GigaOM, Justin.tv, Ooyala, Plimus, Tagged, Tyler Projects and Ustream. In the first half of the year, PayPal processed over $1.3 billion in transactions for digital goods, and, according to TechCrunch, is in track to see $3 billion by the end of the year.

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