Pay As You Go (PAYG) is a Utility Computing billing approach that is applied in Cloud Computing and geared towards agencies and cease customers. A PAYG person is billed for procured, in preference to real, Computing resources. The PAYG mechanism is derived from application computing.
PAYG is also called Pay & Go, Pay Per Usage, Pay Per Use or Pay-As-You-Use.
PAYG allows a consumer to scale, customize and provision computing resources, including Software Program, Storage and improvement Platforms. Resource Charges are based totally on used services, versus an entire infrastructure.
Public Cloud assets approach and follow the PAYG version in another way. For Instance, a consumer provisioning a devoted Cloud Server is typically billed in keePing with Server electricity and usage and on a routine basis. Software as a Service (SaaS) works in addition, where a user rentals Software program and customized features. Storage as a Service (SaaS) billing rotates on a frequent foundation because storage necessities boom are commonly subject to progressively expanded pricing.
When we refer to PAYG as an acronym of Pay As You Go, we mean that PAYG is formed by taking the initial letters of each significant word in Pay As You Go. This process condenses the original phrase into a shorter, more manageable form while retaining its essential meaning. According to this definition, PAYG stands for Pay As You Go.
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