Nanotransactions is a new payment model designed to get people paying for content once again. Instead of forcing people to use expensive, annoying paywalls, multiple log-ins and signups to access casual content, Nanotransactions lets people pay/charge just a few cents for content using an easy-to-use system that works potentially anywhere.
A typical web-based microtransaction comes with a fee of around 40c (Paypal credit cards etc). Nanotransactions can charge as little as 1 cent. It doesn’t even compete with existing models but complements them.
This would finally allow publishers and content creators to charge for access to individual stories. Currently, paywalls lock out over 98 per cent of regular web traffic. The conversion rate using Nanotransactions will be dramatically higher. We’re charging amounts that people wouldn’t think twice about paying. The only reason this hasn’t happened already is that there is literally no mechanism on the internet to facilitate this!