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New York Times on Micropayments
Micropayments – currency in general – has always been a fascination of mine. The New York Times has a brief report this morning on the state of online micropayments:

In Online World, Pocket Change Is Not Easily Spent

From the article:
But the problems proved insurmountable. Many micropayments companies have shut down, been acquired or changed their business models over the years. Among them: DigiCash, CyberCash, First Virtual Holdings and Peppercoin.

They used various systems, but in general users paid into accounts with their credit cards and then drew from those accounts. In the mid- to late ’90s, electronic cash had become such a popular concept that some politicians worried that it might threaten the stability of the nation’s currency.

But the economic and technical challenges were enormous. Consumers were reluctant to pay even a tenth of a cent for something they believed should be free. “There is a certain amount of anxiety involved in any decision to buy, no matter how small,” Mr. Shirky wrote in 2000.