American Express has unveiled a digital payment and commerce platform that lets users buy goods and make person-to-person transfers online and through mobile phones.
"it will cost 2.9% plus 30 cents per load to put money into accounts"
Who wants to put their money into such an account?
I agree - the problem is that the overheads & fees associated with such services make it illogical to use them unless you're financially illiterate.
My local car park charges a 20p handling fee to pay via cellphone - but the parking fee itself is only 30p per hour.
© Finextra Research 2013