News

Wells Fargo, Western Union talk mobile finance at CITA

April 8, 2010

"The big difference in the points of view is really monumental," said Peter Ho, vice president and product manager at Wells Fargo. "Understanding the two sides is important — until both sides get together and start understanding that a bit better, it's difficult to move forward. The rev-share numbers are still far apart. There are so many different ways to cut up what a wallet looks like, and we have our interest, carriers have their interest. Before we talk about a per-transaction revenue share, how do we validate that revenue share?

 

"Negotiating with carriers, say we're going to share some piece of our revenue with you, you have to open up all transactions that occur on a phone and share that with a carrier. … Is that something a customer is going to be up for? I don't know."