Microtransaction refers to small online transactions that can be as small as a few Cents. Based on the payment system, payments that are smaller than $1 can be classified as microtransaction.
Microtransaction have gained popularity, as several online services have emerged over the years. Microtransaction are made during the distribution of royalty, PPC advertising, small-scale freelancing jobs as well as crypto transactions.
Microtransaction can be made on e-commerce platforms where several users end up making small purchases. The service provider can easily debit the amount from the user’s micropayment processing account.