The Associated Press states that PayPal should watch out right about now, because three cut-throat banking giants are gaining. A new mobile payments service called clearXchange will make it easier than ever for customers to make person-to-person payments with a mobile number or even with an email address. Three U.S. banking giants anticipate that clearXchange will eventually replace traditional money transfers entirely. Don't worry; you'll still be able to get a payday loan.
Using eBay's PayPal and prepaid debit cards will cost more
Regardless of the fact that large banks originated the cavalcade of account fees that customers have begrudgingly paid for years, Bank of America, Chase bank and Wells Fargo are marketing the Charlotte, N.C. clearXchange as a much less fee-intensive service than old possibilities like prepaid debit cards and eBay's PayPal online payment program. The person-to-person clearXchange will only be given to the three banks' customer base, but it will change to the mobile payment program soon.
The Associated Press reports that Jack Stephenson believes the clearXchange is very simple. Stephenson is JPMorgan's Director of Mobile, eCommerce and Payments.
"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."
The money in PayPal
According to eBay, PayPal currently carries 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 may be a valid argument.
'An innovative game-changer'
Mobile payment systems will be changed with the clearXchange, states Business Wire. This is because of how simple it is, according to Mike Kennedy, Wells Fargo's Executive V.P. What will follow is anybody's guess.
"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." The outcome of this is anybody's guess.
Using eBay's PayPal and prepaid debit cards will cost more
Regardless of the fact that large banks originated the cavalcade of account fees that customers have begrudgingly paid for years, Bank of America, Chase bank and Wells Fargo are marketing the Charlotte, N.C. clearXchange as a much less fee-intensive service than old possibilities like prepaid debit cards and eBay's PayPal online payment program. The person-to-person clearXchange will only be given to the three banks' customer base, but it will change to the mobile payment program soon.
The Associated Press reports that Jack Stephenson believes the clearXchange is very simple. Stephenson is JPMorgan's Director of Mobile, eCommerce and Payments.
"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."
The money in PayPal
According to eBay, PayPal currently carries 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 may be a valid argument.
'An innovative game-changer'
Mobile payment systems will be changed with the clearXchange, states Business Wire. This is because of how simple it is, according to Mike Kennedy, Wells Fargo's Executive V.P. What will follow is anybody's guess.
"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." The outcome of this is anybody's guess.
About the Author:
How many times have you expected more information on tips to get a fast cash payday loan and turned to an online search on payday loans no fees?" Look no further, all of the information and facts you need is at http://www.MatchFinancial.com.
Aucun commentaire:
Enregistrer un commentaire