Paypal has unveiled their new product, ‘PayPal for digital goods,’ which will allow for micropayments of digital goods across the web at a much reduced rate to merchants. The new fee schedule is 5% + 5 cents for payments under $12 (so $.10 on a $1 purchase, compared to the current $.33).
Perhaps of even more interest than the cost, PayPal offers merchants the ability to allow customers to complete the transaction in two clicks, without ever leaving their website. It is touted 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.”
“The decision to purchase digital goods and content usually happens on impulse, so the act of paying needs to be as quick as that impulse,” said Sam Shrauger, PayPal’s vice president of global product strategy. “PayPal for digital goods is an ideal solution for game developers, newspapers, bloggers, media companies, and anyone who is looking to monetize premium digital content around the globe.”
My questions to you:
- Are you currently accepting payments for digital content on your blog/website? If so, how are you doing it and would you make the switch to PayPal?
- If you currently don’t offer digital content, will PayPal’s new pricing and implementation encourage you to do so?