Pay with a single click using Twitter or Facebook

A one click payment that uses social media login credentials to make payments is being tested by a major European media company. The inspiration behind such an idea was to make it easy for people to make minute or small scale payments, even in the range of 10 to 20 cents. The pay wall structure of online publishing houses can be bought down if the system comes into effect. For e.g. let’s say a user clicks on a link that interests him/her and leads to the article on the publisher’s website, however the article is behind a pay wall. In this scenario, one would have to miss out on reading the article or pay the subscription fee for the entire magazine. The proposed payment system will let you pay for this article alone in a single click by logging in through Facebook/Twitter.

Such a shrewd business idea can help online publishers, media companies, low-priced goods and service companies flourish. The system has been developed by a start-up company in Belgium. The company named Paycento will offer both small payment services as well as large scale.

 

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