> From my understanding of things, the biggest thing in the way is that processing payments costs money.
This is one of the largest problems (if not the largest problem) on the web that I've been thinking about recently. Services like Venmo aren't designed for commercial use. Paypal is a privacy nightmare, and it's bad for sellers too because their chargeback policy is a mess -- and that's even ignoring the fees. Bank transfers are insecure and cumbersome (and again, often come with fees).
Bitcoin doesn't solve the problem for a metric ton of different reasons -- it's proponents are too concerned with worrying about inflation and investments and alternate currencies then with actually practical questions like, "can the payment reliably be completed in less than 1 minute", and "does it have fees associated with that kind of speed?".
It's a very complicated situation, and I have no idea what the answers are or where to even start looking for the answers, but I'm increasingly frustrated by online payment systems, both as a consumer and as someone looking to accept payments. They're almost universally bad.
I think this might be one of the big reasons why advertising works so well -- it's not that advertising is efficient, or that fraud isn't a problem, or that consumers like it. But advertising is an easy way to have a micropayment of as low as a cent or two linked to a page view. And as far as I can see, there is no alternative to that.
In the absence of a way to do actual micropayments, paid subscriptions on the web are also far more costly than ads are. Your average website doesn't get 25 cents every time you load a page. But you have to scale everything up, because otherwise all of your gains just get eaten by fees.
I'm convinced our lack of a decent payment system is seriously holding the web back.