This post contains a video showing the payment of one IOTA (1 of the 2.7^15 IOTAs; thus a micro payment). IOTA is a relatively new coin/network aimed at organising payments in a totally different manner.
The main characteristics of IOTA are:
no blockchain but a tangle which is supposed to avoid blockchain bloat and offer scalability
payments carry 'no fees'. Instead, fees for payments consist of doing some Proof of Work on 2 random prior transactions on the network.
Paying via IOTA is easy but the wallet itself is still in a beta phase. The developers are working on new wallets that should perform better and are probably better looking. The current wallet does not remember your 'seed'(a string of 81 characters that is your 'private key' from which your public addresses are derived). Logging in with your seed each time, is not the most convenient. I bet future wallets will offer password code login functionality while storing the seed.
The fun part is that you could transfer a single IOTA over the network. Unlike Satoshi's, there is no payment fee. This makes IOTA a contender for applications that need micro transactions. Since there is no fee for a payment of IOTA, a micro payment is not rendered uneconomic due to payment fees.
See the video below of payment of a single IOTA from a mobile wallet (unofficial Android wallet) to the official IOTA wallet (PC):
See the IOTA website for more information (https://iota.org/) or the following Steemit article:
https://steemit.com/iota/@wekkel/iota-ready-for-the-internet-of-things
