The CEO's entire angle is no interchange fees for merchants. That now appears to be an insignificant selling point since major retailers are backing eMobile's competitor who also claims to reduce those same processing fees.
Major retailers vs Dick Sushi? Advantage, Chase
Whatever the difference may be in fees, it's meaningless to consumers.
If a consumer is worried about privacy and security, are they more likely to use their banks payment app, or are they going to link their bank account to a penny stock company's app? The answer is obvious.
Consumers are more likely to use their banks mobile payment app which allows them to load with debit/credit/prepaid/checking and has customer support services. A mobile wallet that also allows people to send money to each other.
Why link your bank account to a 3rd party with no support services?
If I understand correctly as a business owner, I can quickly download eMobile, register my business and begin accepting payments. One big caveat. I also need to convince my customers to go home, register and link their checking accounts to the app and then come back to purchase services. Sounds like an extra pain in the ass for me. I should just accept Chase Pay and their 90 million potential users.
eMobile - It's snot relevant.
AI
