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[source](https://www.freepik.com/free-vector/flat-receiving-cashback-bonus-from-paying-online_22032857.htm#fromView=search&page=1&position=24&uuid=cfe36481-c348-43e6-9f24-738ff4cf35a1&query=micropayments+animated)

Just like energy, the demand for transactions will be getting higher and higher. It all started offline and it has now gradually moved to the online realms. What is transaction or maybe I should say, what entails a good means transaction? Yes, we will have to consider speed, efficiency, ease of transfer access, fees and the rest. Even with this does it make it a satisfying one? Ask me for a definition and to simply put; adding to all those qualities, transaction is sending what you want, when you want to, period.

What do you want to send? Ok, lets just focus on the monetary part. Of course you know a text message is a transaction. In short, this is one of such examples. You could send a single letter word as a message and the service providers wouldn’t say a NO. The flaws here is that you get charged the same fee. Adding to that, you have a certain amount of letters to send as SMS, this is where social media have had the hedge.

Moving into the banking system, something this siloed is very rampant. You should recall my definition; ‘what you want to send, when you want to send’. Has it been so with banks? Of course not, when looking at high figures transactions you will have to go through papers works plus a 2-3 days’ time frame for processing courtesy of security. Business will have to pend for this long; something that renders currency definition here incompetence.
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[source](https://www.freepik.com/free-vector/businesswoman-making-contactless-payment-through-mobile-phone-nfc-connection-nfc-communication-stand-contactless-payment-method-concept-bright-vibrant-violet-isolated-illustration_10782938.htm#fromView=search&page=2&position=0&uuid=cfe36481-c348-43e6-9f24-738ff4cf35a1&query=micropayments+animated)
Our main focus is on micro transactions. What is the minimum you can send using your bank account. Over here I think it should be N50 depending on the bank I guess. Does this make transaction convenience considering the ‘what I want to send’. What if I decided to send N1 to hundred different people? This service is rendered void. This is something that really needs to be tackled; it is dulling the world of transactions.

We have seen web3 step in to correct these flaws through micropayments. For instance, Hive as an ecosystem allows users to tip few cents to users for contents uploads, comment or images. Many don’t see what is going on, the future belongs not just to payment but micropayments. Everything will be payable or fundable if I should say, this will be one hedge for web3 Mini tokens.  The rise of micro payments will bring about the rise of multi-diverse transactions. 
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[source](https://www.freepik.com/free-vector/woman-buying-shoes-clothes-perfume-via-phone_11236023.htm#fromView=search&page=7&position=5&uuid=cfe36481-c348-43e6-9f24-738ff4cf35a1&query=micropayments+animated)
Have you ever tried to support someone with something and does not also want to spend too much in the process? How does it end, usually, you may end up not giving. This is what micro-payment is here to curb. It may look small, but on the scale of global transaction, it becomes a big deal. For instance, if 1000 people could tip you $0.1 cents, you are ending up with $100 dollars. All this 1000 people can do this without feeling the pains of overspending.

I talked about the rise of virtuality in one of my recent articles. Yes, many things are now happening online. Link this with how entrepreneurs will be creating more online stores as I said in my last articles. What will thrive this is centred on availability of micro-payments. It will be interwoven into entrepreneurial business. when the challenge of minimum pay is eliminated, anyone can pay any amount for anything he wishes to. Consider watching a 30 seconds video for $0.05 or $0.1 cent, does that really bother you. Collate this transaction globally on a daily bases and you ae likely to see much transaction increase and profits for online creators and entrepreneurs.

To conclude, let me add, the old systems will flush away, how soon depends on how exposed the masses are as related to the advantages of micro-payments. Web3 has surfaced this although it is still underrated, it will soon become one of the sought after service. This is why I keep on saying there is a future fir web3. Does this web2 platforms not see how this idea can boost global economy? Of course they do. So, what is stopping them?

Centralized systems love charges (over charging to be more precise) and this is one main reasons they try to pin minimum transaction so they can profit off. When most banks are placing N10 charge as minimum transaction fees, how will you be able to send anything below that?. It will soon fade off when online consumers realize they are overspending on transaction fees in the process. This is where the next phase of internet and global transaction will fully emerge (micro-payments).




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