Google Wallet Users Can Sign Up Now for Physical Cards

Re:Google Wallet Users Can Sign Up Now for Physical Cards by macleanjr on Wednesday November 20, 2013 @03:13PM (#6770816)

It pulls from your Google Wallet balance, which can be funded when friends send you money, or you can load money on to it using a bank account or credit/debit card (2.9% fee applies)

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Re:Google Wallet Users Can Sign Up Now for Physical Cards by fat0wl on Wednesday November 20, 2013 @03:16PM (#6770834)

o my lord. discover card gives you 1% BACK!

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Re:Google Wallet Users Can Sign Up Now for Physical Cards by dragonwriter on Wednesday November 20, 2013 @07:08PM (#6772225)

> discover card gives you 1% BACK!

Yeah, the fees credit cards charge merchants (in part, to fund reward programs) is why Google has to charge you money to transfer funds into Wallet from other credit cards (otherwise, they'd be losing money when your money goes from a CC into Wallet and out to pay for something.)

Note that there is no fee when the source is not a credit card.

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Re:Google Wallet Users Can Sign Up Now for Physical Cards by aiiane on Wednesday November 20, 2013 @03:30PM (#6770935)

Because Discover makes far more than that on people who owe them credit and don't pay it off immediately, so it's in their interest to get more people to owe them credit in hopes that they'll keep a running balance.

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Re:Google Wallet Users Can Sign Up Now for Physical Cards by statusgraph on Wednesday November 20, 2013 @03:46PM (#6771057)

Credit cards charge merchants for their loyalty programs. They do make money from carried balances, but that's not how reward programs are funded.

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Re:Google Wallet Users Can Sign Up Now for Physical Cards by aiiane on Wednesday November 20, 2013 @04:02PM (#6771155)

Regardless, the point is that credit cards make money off of each transaction, even if the consumer doesn't see a per-transaction fee.

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