Look Out, PayPal, Visa Wants Your Customers
Credit card giant working on person-to-person transactions
By Nick McMaster, Newser Staff
Posted Mar 18, 2011 5:49 PM CDT
The new service might be nice, but look out for scams.   (AP Photo/Wilfredo Lee)

(Newser) – Visa will soon allow customers to use their credit and debit cards to send money to other individuals, reports AP. It's the same type of service offered by the likes of PayPal, but Visa will come into the market with the advantage of 1.85 billion cards in circulation. One example of how it would work: A person initiates the transfer using the recipient's cell number or e-mail address; the recipient gets a notification message and enters his own Visa account number to finalize the transaction. But while users will find a lot of uses for the new service, so will scammers, warns the Consumerist. Click for that.

More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
Look Out, PayPal, Visa Wants Your Customers is...
17%
2%
47%
5%
15%
14%
Show results without voting
You Might Like
Comments
Showing 3 of 11 comments
JimW
Mar 19, 2011 3:44 PM CDT
My business runs on PayPal, have for many years, never a problem. They help a LOT to keep online paying a very honest thing.Customer service is excellent, and at the end of the year I just download my PayPal account, and hand over to my tax preparer. Done. NEVER even TRIED to screw me over. Visa, on the other hand......SUX !!
tdaalsj
Mar 19, 2011 9:11 AM CDT
"the recipient gets a notification message and enters his own Visa account number to finalize the transaction." I'm sure there will be other safeguards in place but this sounds like asking for scammers to manipulate the system.
AnonymousCommenter
Mar 19, 2011 12:54 AM CDT
Paypal deserves to be put out of business. The sooner the better.