Card issuers concerned over losing transaction data from mobile wallets

03/24/2013 | Wall Street Journal, The

MasterCard's move to impose an added fee on some mobile-wallet services may reflect apprehension by card issuers that they won't have access to valuable data on customer transactions through these services. "It's about the purchase data, which will be used to render very targeted and relevant ads and offers, and to prove that they generated a new sale ... for a retailer. If they don't know where the sale was made and to which merchant, they cannot command those premium ... rates," said Richard Crone, chief executive of Crone Consulting, which advises banks and merchants on payment issues.

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