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Siderea, Sibylla Bostoniensis

Part of what made Patreon explosively successful, in the first place, was that Patreon had apparently cracked the code on one of the hardest problems on the internet: micropayments.

By the time Patreon had come along people had been discussing the problem of micropayments on the internet for at least two decades. The problem with micropayments was that there was a huge amount of things that people buy for very small amounts of money, and a huge amount of what people wanted to buy on the internet were things that could not reasonably be priced more than a few bucks – one track on an album, for instance – but the transaction costs for very small purchases were such a large percentage of such purchases that they weren't economical. The payment processing fees put so much friction on small purchases that they pretty much killed them dead.

Sep 25, 2023, 07:25 · · · Tusky · 6 · 29