Posts Tagged ‘Amex’
PayPal Surpasses AMEX in Market Value
Digital payment processor and registered payment facilitator PayPal has been gaining notoriety this year in stock share and overall market value. So much so, the payments platform has now surpassed AMEX in market capitalization.
Read MoreGlobal Wrap: In Australia, MC Exec Lashes Out At Apple/Amex Deal
This week’s global payments report has investments from Mexico, India and the U.K., an Australian cyber currency IPO delayed for the fifth time, a Canadian Amex small merchant initiative and a MasterCard exec lashing out at the Apple/Amex deal in Australia.
There’s more fallout from Apple’s decision to launch in Australia (and Canada, for that matter) only with American Express cards. This time, it’s from a MasterCard exec crying foul, arguing that regulators take a more lax regulatory position with Amex than with other card brands.
Eddie Grobler, division president of MasterCard Australasia, said “Apple Pay launching in Australia with Amex proprietary cards was a symptom of its ability to charge merchants much higher fees than Visa or MasterCard and therefore having much fatter margins to share with Apple, which has been demanding a cut of the fees paid to banks before allowing them onto Apple Pay.”