The Associated Press states that PayPal should check its rear-view mirror, because three cut-throat banking giants are gaining. A new mobile payments program called clearXchange now makes it easier than ever for consumers to make person-to-person payments via a mobile number or email address. Three U.S. banking companies believe that clearXchange will at some point replace traditional money transfers altogether. Don't worry; you will still be able to get a payday loan.
Fees from both PayPal and prepaid debit cost more
Bank of America, Chase bank and Wells Fargo are suggesting that the Charlotte, N.C. clearXchange has fewer fees than prepaid debit cards and eBay's PayPal, even though banks bring on the fees. Soon, the mobile payment program will be accessible for many individuals. For now, the person-to-person clearXchange will only go to the three banks' customers.
JPMorgan's Director of Mobile, eCommerce and Payments Jack Stephenson told the Associated Press that clearXchange could not be simpler.
"Customers will be able to send and receive money even more quickly and easily," he said, "with full confidence their funds are in a bank account without worrying about cash, checks or higher-cost services."
Numbers about PayPal
According to eBay, PayPal currently boasts about 100 million active users and processed $27.4 billion in payments in the first quarter of 2011, a 28 percent increase from a year ago. PayPal's revenue hit $992.3 million, and eBay is confident PayPal's revenue will soon eclipse that of its parent business on an annual basis.
This payment system is 'An innovative game-changer'
Mobile payment systems will be changed with the clearXchange, reports Business Wire. This is due to how simple it is, according to Mike Kennedy, Wells Fargo's Executive V.P.
"This is an innovative game-changer in electronic payments," he said. "We want our customers to be able to easily send money to anyone without having to establish a new account outside their primary bank. All our customers need to know is the email address or mobile number of a friend or family member and (clearXchange) takes care of the rest."
Fees from both PayPal and prepaid debit cost more
Bank of America, Chase bank and Wells Fargo are suggesting that the Charlotte, N.C. clearXchange has fewer fees than prepaid debit cards and eBay's PayPal, even though banks bring on the fees. Soon, the mobile payment program will be accessible for many individuals. For now, the person-to-person clearXchange will only go to the three banks' customers.
JPMorgan's Director of Mobile, eCommerce and Payments Jack Stephenson told the Associated Press that clearXchange could not be simpler.
"Customers will be able to send and receive money even more quickly and easily," he said, "with full confidence their funds are in a bank account without worrying about cash, checks or higher-cost services."
Numbers about PayPal
According to eBay, PayPal currently boasts about 100 million active users and processed $27.4 billion in payments in the first quarter of 2011, a 28 percent increase from a year ago. PayPal's revenue hit $992.3 million, and eBay is confident PayPal's revenue will soon eclipse that of its parent business on an annual basis.
This payment system is 'An innovative game-changer'
Mobile payment systems will be changed with the clearXchange, reports Business Wire. This is due to how simple it is, according to Mike Kennedy, Wells Fargo's Executive V.P.
"This is an innovative game-changer in electronic payments," he said. "We want our customers to be able to easily send money to anyone without having to establish a new account outside their primary bank. All our customers need to know is the email address or mobile number of a friend or family member and (clearXchange) takes care of the rest."
About the Author:
How often have you needed addiitional information on types of payday loans, and turned to a web site search on "payday loan consolidation?" Your search is over, all the facts you'll need is at Match Financial.
0 comments:
Post a Comment