PayPal said the new micro-payment system lets consumers pay for digital goods and content within two clicks, without having to leave the game, news, music, video, or anything on the site that was previously opened. It describes the service, which will be available later this year, as’ equivalent to a quarter of the amount of time it takes to buy an e-paper or play videogames online. “
‘The new solution PayPal solve a major problem for digital goods industries by offering cost-effective manner, faster, safer, and more to send and receive micro payments globally, “said an official statement of this giant of online payments. “Every time a customer purchases the content, publishers and merchants are paid quickly, giving them instant access to their funds.”
PayPal said the fee structure for micro-payments is five percent plus five cents for purchases below 12 U.S. dollars, lower than the fees typically charged by payment processors in the industry of digital goods. Facebook Chief Operating Officer Sheryl Sandberg, say, a social network will integrate the new digital PayPal to make a PayPal payment service as one way to make a purchase on Facebook.
PayPal, owned by online auction giant eBay, said a number of other companies have also signed up for the service including Autosport.com, FT.com, GigaOM, Justin.tv and Ustream.