CNP Headlines

PayPal rolls out free mobile payment processing

Tech Spot - Wednesday, 15 May 2013 In order to sign up for the free service, PayPal is requiring companies turn in their old point-of-sale system in favor of PayPal's Here, or any other POS offering that integrates PayPal's technology. Once 2013 is over, fees will go back to normal, but for a business that runs a lot of credit cards, the amount saved in the remainder of 2013 could be quite large.

Visa Europe Offers to Cap Credit-Card Fees to End EU Probe

Bloomberg Businessweek - Tuesday, 14 May 2013 Bloomberg Businessweek Visa Europe’s offer would bring its fees in line with those of its main competitor MasterCard Inc. (MA), the European Commission said today. The operator of the EU’s largest payment-card network also committed to overhaul its rules so that banks will be able to apply a reduced cross-border interbank fee when they compete for clients cross-border.

US Mobile Landscape - Two Years Later

Federal Reserve System - Monday, 13 May 2013 The Federal Reserve Banks of Boston and Atlanta through their Payment Strategies and Retail Payments Risk Forum Groups have released a paper that concludes while the mobile payments market is still nascent, progress is being made towards achieving benefits within this ecosystem such as improved security and fraud reduction, cost efficiencies, value-added services, revenue and monetization opportunities, and data privacy.

Why mobile wallets alone will fail

CNN Money - Wednesday, 08 May 2013 CNN Money

Mobile wallets as they are defined today are unfortunately a solution in search of a problem. Consumers are quite happy with their credit and debit cards…they work, they're fast and they're familiar. And retailers, while they may complain about credit card fees, have bigger strategic issues with online competition and showrooming than to worry about installing the next "wallet" created to replace tried and true payment systems they've already invested in – and successfully process millions of transactions every day.

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