Tuesday, April 26, 2011

After Visa, American Express Takes On PayPal With Digital Payments Platform

After Visa, American Express Takes On PayPal With Digital Payments Platform: "After that period, it will cost 2.9% + 30c/per load to put money into Serve accounts (discounted to 0% for cash, debit and ACH) and $2.00 for ATM cash withdrawals."

Why would I want to use this rather than a debit or credit care, or even the much loathed paypal.com? Oh, this is why...

Interestingly, Serve also offers users the ability to create, manage, and specify sub-accounts for friends, family members or colleagues. Linked to the master account, they allow users to set spending profiles for “everything from children’s allowances to dog walker fees”.

Or, you can just give them cash or send it to their paypal, moneybookers or whatever. This is metooism without a clue. I'm not saying that Visa shouldn't try, but please come with a gun not if knife to the fight. I would like to know their specific target market and the comparative advantage that will allow them to capture it.

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