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Non-Tech : Kirk's Market Thoughts
COHR 154.96+4.1%2:04 PM EST

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To: Jerome who wrote (1033)4/14/2014 12:05:04 PM
From: Kirk ©1 Recommendation

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larryjoe

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Good morning.

This may help explain why these social network companies are so valuable...
Facebook is reportedly close to receiving approval from Ireland's central bank to become an "e-money" institution that would enable users to store money on the social network, use it to pay other members and exchange cash with them. The move could help Facebook ( FB) boost its presence in emerging markets, as it would provide remittance services in which migrant workers send money home to their families.
If they can offer lower "swipe fees" than Visa, MA and AmExp, that is an even bigger pie in the US and other developed economies.

I figured out why Starbucks promotes their card with so many free deals to use it.... the free coffee is much cheaper to use their cards is much cheaper than a swipe fee plus a commission to use a bank debit card.
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