"I’m personally committed to working closely and tirelessly with the
Reserve Bank of India to get a fast resolution to this issue" Farhad Irani, 14 February 2010
PayPal's India problems marched through February and March.
While number one Visa (established 1958) posts "$4.8 trillion total volume" for a twelve month period. A rough average of $1,200 billion a quarter versus PayPal's $20 billion quarter.
If you were, say Visa, nothing to worry about right?
Yet Visa's international activities indicate they take PayPal's
growing international presence seriously. Or 'coincidentally' Visa, as
well as MasterCard, etal, are aggressively expanding their
international businesses in the same year as PayPal.
"Visa Inc. (NYSE: V), the world's largest retail payments network,
and Travelex, the world's largest international foreign exchange and
international payments specialist, today announced the launch of the
first Visa Money Transfer service in Australia."
"launch of MoneyGram's first cash-to-Visa card program enabling
consumers to transfer money from MoneyGram locations in the United
States directly to the Visa accounts of recipients outside of the United
States"
"launch of a money transfer service that will provide an additional
alternative for consumers that send money from the United States to
friends and family living abroad. "
"initial deployment of the service will enable consumers to send
funds from the United States to select countries such as El Salvador,
Brazil, China and The Philippines, with plans to extend the program to
allow remittances from BTS locations to any country within the Visa
network."
"formation of a joint venture that will provide a technology
platform for financial institutions and mobile network operators in
India to offer a range of mobile financial services to consumers."
A skirmish is defined as "a minor fight in war usually incidental to larger movements."
Did John Donahoe's 2009 PayPal chest thumping get the attention of the
major credit card companies? Touching off the 2010 prelude to
international payment system skirmishes?
'Coincidentally' MasterCard started their MasterCard MarketPlace in March 2010.
The "MasterCard MarketPlace" is initially being trademarked for the
United States, European Union, China, Australia, and Canada.
MasterCard's MarketPlace commercial
has a certain 'as compared to eBay' feel to it. Since eBay INC calls
it's eBay.com site, the "eBay Marketplace," MasterCard must be making a point.
A very sharp one.
/*
Addendum
19 August 2010
The day after we published the above article, reuters reported:
"The deal will improve MasterCard's ability to process payments online, especially in Europe and emerging markets, the company said. Its new chief executive, Ajay Banga, is trying to boost the company's profits by developing its online and mobile payments processing business."
"MasterCard and Visa are trying to compete with PayPal, which is synonymous with online shopping in the minds of many consumers."
"MasterCard, which gets 55 percent of its revenue from outside the United States, is looking abroad to grow."
"I’m personally committed to working closely and tirelessly with the
Reserve Bank of India to get a fast resolution to this issue" Farhad Irani, 14 February 2010
PayPal's India problems marched through February and March.
While number one Visa (established 1958) posts "$4.8 trillion total volume" for a twelve month period. A rough average of $1,200 billion a quarter versus PayPal's $20 billion quarter.
If you were, say Visa, nothing to worry about right?
Yet Visa's international activities indicate they take PayPal's
growing international presence seriously. Or 'coincidentally' Visa, as
well as MasterCard, etal, are aggressively expanding their
international businesses in the same year as PayPal.
"Visa Inc. (NYSE: V), the world's largest retail payments network,
and Travelex, the world's largest international foreign exchange and
international payments specialist, today announced the launch of the
first Visa Money Transfer service in Australia."
"launch of MoneyGram's first cash-to-Visa card program enabling
consumers to transfer money from MoneyGram locations in the United
States directly to the Visa accounts of recipients outside of the United
States"
"launch of a money transfer service that will provide an additional
alternative for consumers that send money from the United States to
friends and family living abroad. "
"initial deployment of the service will enable consumers to send
funds from the United States to select countries such as El Salvador,
Brazil, China and The Philippines, with plans to extend the program to
allow remittances from BTS locations to any country within the Visa
network."
"formation of a joint venture that will provide a technology
platform for financial institutions and mobile network operators in
India to offer a range of mobile financial services to consumers."
A skirmish is defined as "a minor fight in war usually incidental to larger movements."
Did John Donahoe's 2009 PayPal chest thumping get the attention of the
major credit card companies? Touching off the 2010 prelude to
international payment system skirmishes?
'Coincidentally' MasterCard started their MasterCard MarketPlace in March 2010.
The "MasterCard MarketPlace" is initially being trademarked for the
United States, European Union, China, Australia, and Canada.
MasterCard's MarketPlace commercial
has a certain 'as compared to eBay' feel to it. Since eBay INC calls
it's eBay.com site, the "eBay Marketplace," MasterCard must be making a point.
A very sharp one.
/*
Addendum
19 August 2010
The day after we published the above article, reuters reported:
"The deal will improve MasterCard's ability to process payments online, especially in Europe and emerging markets, the company said. Its new chief executive, Ajay Banga, is trying to boost the company's profits by developing its online and mobile payments processing business."
"MasterCard and Visa are trying to compete with PayPal, which is synonymous with online shopping in the minds of many consumers."
"MasterCard, which gets 55 percent of its revenue from outside the United States, is looking abroad to grow."
PayPal and the International Credit Card Wars
PayPal and the International Credit Card Wars
18 August 2010
EventHorizon1984
Considering the events that have happened during PayPal's 2010 international expansion, PayPal appears to be living in interesting times.
PayPal International's interesting times began on January 27th. The date that the Reserve Bank of India asked PayPal "to immediately suspend PayPal payments to and from India as well as transfers to local banks in India."
PayPal's India problems marched through February and March.
Then came a PayPal Japan revelation:
Unfortunately PayPal's India problems have not gone away.
And despite Farhad Irani's declaration, PayPal remains unlicensed in India.
But guess what notable United States companies are licensed in India?
Answer:
When PayPal's intentions come across as "PayPal wants to replace credit cards in stores", how will the larger companies react?
Or more to the point, how are the larger companies reacting?
Consider these numbers.
If you were, say Visa, nothing to worry about right?
Yet Visa's international activities indicate they take PayPal's growing international presence seriously. Or 'coincidentally' Visa, as well as MasterCard, etal, are aggressively expanding their international businesses in the same year as PayPal.
Visa did not ignore India.
PayPal remained on the move, entering the South Africa market in March.
Not that Visa was far behind. As they churned this out in a July press release:
Definitely interesting things happening in 2010.
eBay's (PayPal is owned by eBay) CEO John Donahoe said in 2009, "PayPal is a business that will be bigger than eBay." Along with the comment, "Donahoe said we are not that far off from the day where a restaurant beams a bill to your mobile device and you pay via PayPal."
A skirmish is defined as "a minor fight in war usually incidental to larger movements." Did John Donahoe's 2009 PayPal chest thumping get the attention of the major credit card companies? Touching off the 2010 prelude to international payment system skirmishes?
We'll see.
As the owner of PayPal, eBay INC is not immune from the major credit card companies. Remember MasterCard's $510 billion purchase volume? eBay's equivalent statistic, Gross Merchandise Volume (GMV), for the same period was $12.5 billion.
'Coincidentally' MasterCard started their MasterCard MarketPlace in March 2010. The "MasterCard MarketPlace" is initially being trademarked for the United States, European Union, China, Australia, and Canada.
MasterCard's MarketPlace commercial has a certain 'as compared to eBay' feel to it. Since eBay INC calls it's eBay.com site, the "eBay Marketplace," MasterCard must be making a point.
A very sharp one.
/*
Addendum
19 August 2010
The day after we published the above article, reuters reported:
/*
See Also:
/*
"Donahoe said, noting that only 5 percent of sales are online as compared to stores."
PayPal will be bigger than eBay.com, CEO says, 23 July 2009
"I fear all we have done is to awaken a sleeping giant and fill him with terrible resolve."
Isoroku Yamamoto, Tora! Tora! Tora! (1970)
/*
Technorati Profile
EventHorizon1984 Log
//
Posted at 15:49 in Business, Commentary, eBay, PayPal | Permalink
Tags: American Express, Bancomer, Certificates of Authorisation, Credit Card Wars, Diners Card, Discover, eBay, Farhad Irani, India, Japan, John Donahoe, MasterCard, MasterCard MarketPlace, MoneyGram, Monitise, PayPal, RBI, Reserve Bank of India, South Africa, Travelex, Visa, Western Union
| Reblog (0)