Digital wallet operators, like Google, PayPal, and others, should be charged a fee for offering such a service, according to Visa CEO Charlie Scharf.
Speaking at the Barclays Emerging Payments Forum yesterday, Scharf said "it is totally appropriate" for credit card companies to charge digital wallet operators a fee on all transactions, according to Reuters, which was in attendance.
Scharf's comments come after eBay revealed in a February regulatory filing that MasterCard was planning to charge it a fee for its digital wallet service starting in June. The actual amount PayPal pays isn't expected to be … Read more
That seems to be the logic behind mobile pay service LevelUp's presence at South by Southwest, a show where brands are drowning out startups in search of their breakout moment.
LevelUp, a 2-year-old mobile pay service operated by Boston startup SCVNGR, skipped dog-and-pony-show antics for a far more practical strategy that is drumming up dollars instead of buzz. The company is powering mobile pay at every food … Read more
Consumers may one day ditch their plastic credit cards, but that doesn't mean that they'll abandon their credit card companies.
In fact, the move from a leather wallet to a digital one could be a boon for companies like Visa, Mastercard, Discover and American Express.
Digital wallets, which allow users to store their credit cards, retail loyalty cards, coupons and even tickets in digital form on a mobile device, have been one of the most talked about emerging segments of the mobile market. Everyone from Google to Apple to Microsoft to PayPal to wireless carriers and even retailers … Read more
BARCELONA, Spain--NFC (near field communication) technology has been around for some time now, but as of yet it's failed to hit a level of ubiquity in our devices that would galvanize more businesses to adopt it. That, however, is changing fast.
While most think of NFC as solely a new payment solution, companies are constantly finding new ways to implement it.
NFC is essentially a new way to exchange information from one device to another, wirelessly. It's different from other wireless technology in that it requires the two devices to be within a centimeter of each other. Hence … Read more
What's different about Affirm from other mobile-payment companies, like Square and Stripe, is that it's goal is to make payments happen with as few clicks as possible -- similar to how buying something on a desktop computer works.
"We are trying to get as close as possible to one-click, which has always been the case on the desktop," Levchin told AllThingsD. "In mobile, it has become an imperative to be able to buy … Read more
Visa's new partnership with Samsung to embed its PayWave technology directly into Samsung devices could help kick-start NFC-enabled payments around the world. But U.S. wireless subscribers may be left out of the frenzy.
Samsung and Visa announced the partnership, which is part of a new partner program for Visa, at the Mobile World Congress tradeshow in Barcelona today. Specifically, Samsung will incorporate Visa's PayWave mobile payment applet into future Samsung devices such as the upcoming Samsung Galaxy S4. Visa will also make it easier for customers to tie their Samsung phones to financial institutions and their personal … Read more
BARCELONA, Spain--Samsung's next flagship smartphone will play a key role in Visa's mobile payment ambitions.
The two companies unveiled a partnership today in which Samsung would incorporate Visa's PayWave mobile payment applet in its future devices, as well as use Visa to make it easier for customers to tie their Samsung phones to a financial institution and Visa account.
While not referenced specifically, the upcoming Galaxy S4 will be the flagship product for Visa's program, according to a person familiar with the partnership.
Samsung will be part of the Visa Ready Partner Program, which was announced … Read more
BARCELONA, Spain--The hype around mobile payments is just the tip of the iceberg when it comes to the coming transformation for how people purchase goods and services.That's according to Ed McLaughlin, chief emerging payments officer for MasterCard, who spoke with CNET about his company's vision. While at the Mobile World Congress conference, MasterCard unveiled its MasterPass system, which addresses not only mobile payments, but also all forms of digital transactions. MasterPass is designed for purchases made in stores, online, or on the phone. "It's a foundation for moving to a world beyond plastic," McLaughlin … Read more