MasterCard Forcing PayPal To Pay Higher Fees

iComp sends this quote from El Reg: "PayPal, Google Wallet and other online payment systems face higher transaction fees from MasterCard in retaliation for their refusal to share data on what people are spending. Visa is likely to follow suit. The amount that PayPal has to pay MasterCard for every transaction will go up as the latter introduces new charges for intermediated payment processors. This change is on the grounds that such processors don't share transaction details, which the card giants would love to get hold of as it can be used to research buying patterns and the like. Companies such as PayPal allow payments between users, so the party (perhaps a merchant) receiving the money doesn't need to be registered with the credit-card company. PayPal collects the dosh from the payer's card, and deducts a processing fee before passing the cash on to the receiving party. MasterCard would prefer the receiver to be registered directly so will apply the new fee from June to any payment that is staged in this way."

Re:Card to Card payments

[DanielRavenNest]

> I've always wanted the ability to painlessly send someone money, directly,

Behold: http://bitcoin.org/en/ [bitcoin.org]

It's not everywhere yet, but it will be soon.

Re:Card to Card payments

[sgbett]

In Big Bad Ben Bernanke's fariytale dreamland he is seeking help from the Childlike Empress, so that together they can convince Atreyu to believe in the USD, lest it blink out of existence through lack of faith.

I'd say its a coin flip as to which one your money is safest in :)

Re:Slowclap

[Anonymous Coward]

It's not a human. It's a bot program written purely in hostfile.

Please do

[rduke15]

<quote>I've always wanted the ability to painlessly send someone money</quote>

Please do! Here is my IBAN number: CH14 0025 5255 F665 2263 0

Thanks.