Facebook and MySpace are both working on their own payments systems but TechCrunch noted that it is the "nimbler start ups" that are making headway in this field.
It said Spare Change Payments is processing $2.5 m (£1.6m) a month in micropayments, adding up to a "$30m (£20m) annual run-rate."
"Entertainment"
As the online world becomes more mobile the use of the phone as a payment model is also expected to take hold.
While a recent survey by KPMG revealed that most people in the US have issues around security, a majority also said they would consider using their mobile if these could be addressed.
