Google is working on a new feature called Web Monetization for its Chrome browser to help websites generate revenue from quality content without solely relying on ads or subscriptions that may incur additional costs and technical challenges.
Web Monetization allows websites to receive small payments from users for interacting with content without needing user input. This novel revenue stream eliminates the necessity for ads or subscriptions. According to Google, the main benefits of this system are supporting micro-payments and not requiring direct user involvement.
To make payments, users would pay as they consume content by incorporating the HTML Link element rel=”monetization” on their websites to signify their endorsement. If visitors have a designated wallet for a specific site, a web monetization session can start, allowing users to select which sites to support and how much.
In essence, users must establish a wallet to add funds and manage the websites they want to back, after which the process becomes automated.
Web Monetization tackles a significant challenge with small online payments: fees. While it still involves payment providers adding funds to a wallet, it removes fees for each individual payment. This technology displays potential but relies heavily on website adoption and user involvement. Although it is currently in the development phase, successful implementation on Chrome by Google would require cooperation from websites and users to be effective.
Image Source: Pixabay
