By Sonya Rabbitte, 17 May 2002 16:15
NEWS Paypal's relationship with Mastercard could be on the rocks after the credit card company said it will no longer bulk process payments from Paypal customers. In a recent filing with the SEC, Paypal said Mastercard had requested that from 1 May Paypal's bank enter into separate agreements with all customers who regularly use the service to send or receive money. Fifteen per cent of all money transferred over the Paypal network during its first quarter as a listed company were funded with Mastercard credit cards. In the SEC filing, Paypal said the new regulations could mean higher transaction costs for customers, or a termination of its agreement with Mastercard. As if maxed out credit wasn't enough, Paypal has legalwoes too
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below