Google is developing a fresh feature named Web Monetization for its Chrome browser to assist websites in generating income from valuable content without depending entirely on ads or subscriptions that may result in extra expenses and technical complexities.
Web Monetization enables websites to obtain small payments from users for engaging with content without requiring user input. This innovative revenue source eliminates the need for ads or subscriptions. As per Google, the primary advantages of this mechanism include supporting micro-transactions and not demanding direct user participation.
For making payments, users will remit funds as they consume content by embedding the HTML Link element rel=”monetization” on their websites to signify their approval. If visitors possess a dedicated wallet for a particular site, a web monetization session can be initiated, allowing users to decide which websites to endorse and the amount to contribute.
Essentially, users need to create a wallet to deposit funds and oversee the websites they wish to support, after which the process becomes automatic.
Web Monetization addresses a notable obstacle concerning minor online transactions: charges. While it entails payment providers depositing funds into a wallet, it eliminates charges for each individual transaction. This technology exhibits promise but heavily hinges on website adoption and user engagement. Despite being in the developmental phase presently, successful integration on Chrome by Google would necessitate cooperation from websites and users for optimal results.
Image Source: Pixabay
