LAS VEGAS — In a high-level digital wallets panel at theMoney2020 confab that put on stage senior executives from AmericanExpress, Visa, MasterCard, PayPal and Google the fisticuffs broke out quickly and involvedonly the latter two.

Don Kingsborough, vice president at PayPal, swung early andoften on Tuesday and he hit on two big themes: NFC, in PayPal'sview, is not anywhere ready for prime time. In that company's view,the letters stand for Not For Consumers.

Kingsborough also insisted that digital wallets are not aboutadvertising – a sharp smack at fellow panelist Osama Bedier, theGoogle Wallet guru who on many occasions has referred to the searchgiant as “an advertising company.”

The sub-text is that at his Money2020 keynote on Monday, Bedieralso said – in a clear punch at PayPal, et. al – “we are notanother mouth to feed when it comes to payments.” That is becauseGoogle, so far, has evidenced no interest in a slice of the feesinvolved in payments. It sees the cash coming through big dataanalytics and well-directed offers to consumers.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.