Visa chief points to additional fee on PayPal

03/21/2013 | Reuters · Verge, The

Although PayPal is already paying fees to Visa, MasterCard and American Express when consumers charge via PayPal using those cards, Visa CEO Charlie Scharf suggested his company may follow MasterCard in imposing still more fees on these mobile wallet transactions. Google's mobile wallet may be another target for additional fees. The moves may prove another roadblock on the way to mobile payments, writes Dieter Bohn, as the "fees will make it harder for companies like PayPal and Google to make their mobile wallets profitable, ceding precious margins to Visa and MasterCard -- each of whom are offering their own mobile payment products."

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Reuters · Verge, The

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