I 100% agree that customers have nothing against micro payments. I don't think the reason we don't typically encounter them is banks having bad systems.
In my mind, the issue is trust.
If I pay for something on the web, I need to trust I'll receive what was promised. How can I?
Micro payments have no room for refunds.
Without any system to refund bad purchases, fraudulent actors will run wild.
By their nature, small transfers don't produce large value, of their small value is offset by relatively larger chance of being scammed, what's the point?
In my mind, the issue is trust. If I pay for something on the web, I need to trust I'll receive what was promised. How can I? Micro payments have no room for refunds. Without any system to refund bad purchases, fraudulent actors will run wild. By their nature, small transfers don't produce large value, of their small value is offset by relatively larger chance of being scammed, what's the point?