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A micropayment is a financial transaction involving a very small sum of money. PayPal defines a micropayment as a transaction of less than 12 USD,and though micropayments were originally envisioned to involve much smaller sums of money, practical systems to allow transactions of less than 1 USD have not been developed. One problem that has prevented their emergence is a need to keep costs for individual transactions low, which is impractical when transacting such small sums, even if the transaction fee is just a few cents. History Micropayments were initially devised as a way of allowing the sale of online content and were envisioned to involve small sums of only a few cents. These transactions would enable people to sell content on the Internet and would be an alternative to advertising revenue. During the late 1990s, there was a movement to create microtransaction standards, and the World Wide Web Consortium (W3C) worked on incorporating micropayments into HTML, even going as far as to suggest the embedding of payment-request information in HTTP error codes.The W3C has since stopped its efforts in this area, and micropayments have not become a widely used method of selling content over the internet. Online gaming The term microtransaction is sometimes used to refer to the sale of virtual goods in online games like World of Warcraft.