BBVA API Market
The rise of the Internet has brought a plethora of new business models, and one of the most talked about recently is the micropayments model. But what are they exactly?
This is a system based on small transactions made via the Internet for sums that do not generally exceed 10 euros. Micropayments tend to be used to acquire low-value articles or fractions of products, such as a song from Rihanna’s latest album, for example.
More and more companies operating on the Internet are starting to include micropayments as one of their payment options. This system is very easy to implement and very convenient for users.
In the past people tended to be very reluctant to pay for a content or a product via the Internet, but this trend has been gradually changing for some years now. Even so, a person is still more likely to decide to buy a low-value product or a fraction of a product than the whole thing, or a big-ticket item.
And that’s where the micropayments model can be useful. This system represents an opportunity particularly for sectors who have a lot of trouble monetizing, such as the media.
The transactions take place via secure platforms. One of the latest to appear on the market is Nimble Payments, a fee-paying digital platform that is very easy to integrate using the most widely used eCommerce protocols and technologies.
This type of platform allows users to make one-off payments without the need to make regular transactions, which helps build loyalty among customers and improves the relationship with them thanks to the user experience.
By reducing the economic obstacle, it becomes possible to reach a lot more users. The micropayments model and the gateway that helps manage it can be major allies in increasing market share for SMEs.
For more information about Nimble Payments, please go to the web at: www.nimblepayments.com
Follow us on @BBVAAPIMarket
APIs allow companies to offer their own e-wallets, building a new user experience that drives and contributes to customer loyalty.
Knowing how this banking product works can help us benefit from its advantages and get the most out of it.