Digital wallets provide a way to store users’ payment information and passwords for numerous payment methods and websites.
Digital wallets work well with micropayments, which are very small Ecommerce financial transactions made in exchange for a service, product, or web-based content creation.
Micropayments are a great tool for developers, online content creators, and administrators because with a micropayment plugin you will be able to create your own digital currency and provide easy and fast in-site transactions without requiring external payment processing for each purchase.
A new report on micropayments from Business Insider states that:
“Digital micropayments are on the rise because they help solve a problem for online content providers. That’s led publishers of digital content, like news or video, to look at them as an alternative way to monetize content..”
Check the preview of the report here.
If you ever wondered how to turn your WordPress blog into a source of income then look no further! Micropayments allow you to accept small payments from your readers in order to access premium content. This, in turn, allows you to earn a profit and for your users to buy exactly what they are interested in.
Micropayments are a way to completely switch up the user experience on your website.
MicroPayment Plugin: Unified Solution
Digital wallets and micropayments come together in the form of the CM Micropayment plugin, allowing you to monetize and provide incentives within your e-commerce store, community, or e-learning course
Thanks to digital wallets users can make safe and secure transactions while enjoying the speed and flexibility of micropayments on your WordPress website. More importantly, they allow you as a developer to earn revenue that normally would have been lost profit without the solution of micropayments.
How It Works
Once the plugin is installed, every registered user is given his own micropayment wallet. Then, after a quick setup of the external Payment Gateway and the currency itself, customers can load their wallet (by purchasing the virtual currency) and use their wallet for in-site transactions as if they were a prepaid credit card.
Top 10 Features
Below are some of the top 10 features to change up the game on your WordPress site with the MmicroPayments plugin.
1. Easy Payment and Checkout
With the micropayment plugin, you can say goodbye to the days of having your users run back and forth between payment platforms for every purchase. Now they can make all their purchases without ever leaving your site.
2. Make Your Own Online Currency For Your Community
Create your own virtual currency which users can use as a point system. You have the power to define its points value for cash value for any international currency you would like. For example: 100 points for $ 1.
3. Boost Community Engagement
This plugin is a great option for those looking to boost community engagement. Create a rewards program through the points management program. The more points a user earns through community engagement they can use towards future purchases on your site!
4. Users Can Pay The Way They Want
Allow users to pay the way they want without ever having to leave your site. With just a few clicks, easily integrate with external plugins such as EDD (Easy Digital Downloads) or WooCommerce to connect with payment systems such as Paypal or 40+ other payment platforms.
Convert virtual currency points into discount points for users with EDD and WooCommerce platforms.
6. Micropayments Across Multiple Sites
With the multiple license package, users will be able to make micropayments and access their virtual wallet with the same login information across your network.
7. Create Reports and Track Payments
Track payments by creating lists or graphs and keep your users up to date and in the loop by sharing transaction reports with users.
8. Transfer Virtual Currency and Points Between Users
Your community will now be able to share and transfer your virtual currency between one another. Through the use of a shortcode, users can easily make direct transfers between each other.
9. Customize It How You Would Like
The CM Micropayments Plugin infrastructure is easy to customize and integrate with your own plugins and themes which add endless possibilities.
10. Speak Your Language
For those that have websites in multiple languages or speak a language other than English, micropayments speak your language. Adjusting plugin labels is easy. Frontend labels can be easily changed to any language so that the user interface will speak your language.