Micropayments: Turning Nickels and Dimes into Profits: Industry Research Report

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Micropayments: Turning Nickels and Dimes into Profits

Published Date: April 2007

Published By: TowerGroup

Page Count: 11

Order Code: R301-1269

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The use of credit and debit cards for purchases under $5 (USD) has been limited, but recent developments have shown the need for consumers' ability to make such micropayments. Some solutions also reduce merchants' costs associated with accepting such payments. This Research Note illustrates how card use for micropayments reinforces and can deepen issuers' relationships with their customers, thereby indirectly enhancing profitability. Customer retention is directly linked to product usage. Ideally, frequent use of cards for small everyday transactions will lead consumers to use the cards for larger and more profitable transactions.

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