Payment Networks Are Taking the Gloves Off: Incumbents Move to Protect Their Turf
News about Payment Networks Are Taking the Gloves Off: Incumbents Move to Protect Their Turf.
MasterCard fights back against new payments players with increased transaction fees for digital wallets that don’t share data
March 20th, 2013
The new fee is to be applied to “staged” digital and mobile wallets that provide a way for transactions to be charged to a customer’s credit card without any details about the purchase being passed on to the payments network. PayPal and Google Wallet as well as a number of other new market entrants are all expected to be affected but “traditional” NFC wallets will not.