Nov
7
WingCash is cash.
WingCash is a cash payment for the Internet not credit. Live on cash!
Pay Matters
personal ideas, interests, and musings on topics of interest.
Jun
17
Cake Notice and WingCash co-sponsor the MainStreetChamber/Greenville, June 16, event in Greenville.
Jun
13
Most Deposits?
As of June 30, 2010, which State had the most FDIC insured deposits?
a) California
b) New York
c) Texas
(Source: fdic.gov)
FDIC Insured Financial Institution Count
As of June 30, 2010, which State has the most FDIC Insured financial institutions?
a) New York
b) Illinois
c) Texas
How many FDIC Insured Financial Institutions does the winning State have?
a) 989
b) 768
c) 678
(Source: fdic.gov)
May
8
“The fact that consumers continue to tend to rate cash highest in virtually every payment characteristic (acceptance, convenience, cost, and security) suggests that consumer demand for cash is unlikely to disappear any time soon.”
http://www.bos.frb.org/economic/ppdp/2011/ppdp1101.htm
“The average U.S. consumer made 18.4 out of 64.5 payments per month in cash. Second only to payments made with a debit card (19.0 payments per month).”
http://www.bos.frb.org/economic/ppdp/2011/ppdp1101.htm
May
2
“
Now banks are increasingly looking to new technology, such as mobile phone and ecommerce payments, to grow businesses in developing countries where people do not regularly use credit and debit cards.
“We need to figure out ways in which we can grow our business in a way that aligns with what Durbin’s rules are,” former Citigroup credit cards chief Paul Galant, who now runs a new payments group for the bank, told Reuters in an interview.
” http://www.reuters.com/article/2011/05/02/financialregulation-creditcards-idUSN0223140120110502Is Facebook inviting the card brands (Visa, MasterCard etc…) to increase interchange fees?
Interchange is the cost paid by a merchant to accept a Visa or MasterCard branded card as payment. Several factors determine the cost of interchange; however, I don’t believe either Visa or MasterCard has ever quoted a 30 percent discount rate. Today a friend forwarded me an article on the Wall Street Journal talking about Facebook. The last paragraph of the article reads:
“Earlier this year, Facebook began requiring all companies that sell virtual goods on the site to use its Credits payments system, for which Facebook takes a 30% commission. Credits can be used to pay for such things as online games and movie rentals.”
Now to be accurate. The article is not calling this a discount or interchange fee but rather a commission. Nonetheless, I believe the seller of the goods pays 30% to Facebook for the sell of digital goods. If there is acceptance and adoption by the public of the use of Facebook credits, is this an invitation to increase interchange fees?
← Older Posts
Page 1 of 5
