Visa, MasterCard plan to add fees on mobile wallets

Payment processors Visa and MasterCard are planning to introduce new fees for mobile and digital wallet operators in the US, including PayPal, Google Wallet, iZettle and Intuit, according to reports circulating on Reuters.

Staged wallets collect data about users and transactions, but don’t forward some of it to the payment firms. It could be implied from the announcements that the new fee would also apply to mobile operators’ wallets, including Isis, the joint venture between the three largest operators in the US.

According to reports, the market leader in mobile wallets, Square (which is partly owned by Visa), is not subject to the new fees, causing some mobile wallet operators to cry foul.