Visa CEO Charlie Scharf says a card network changing its pricing and rules for digital wallet providers is "totally appropriate to do" as rival payment companies evolve.
If Visa imposes such a digital wallet fee, it would echo a recent decision by MasterCard, which plans to charge new fees for digital wallet operators starting in June. The fee is part of a new registration process for digital payment companies such as PayPal, which has factored the MasterCard fee into its business costs.
"We have to constantly rethink who plays what role in payments today, and everyone that we compete with evolves," Scharf said at the Barclays Emerging Payments forum March 20, according to a transcript.
Asked about the MasterCard fee, Scharf said, "Whether or not what they did is the right – I mean that is for them to decide, but we are always thinking about those relationships and they have changed. And if they changed enough that we think it warrants us to change something with us, we will do that."
A Visa representative did not immediately respond to a request for comment.
Update: Visa contacted PaymentsSource March 22 with this statement from Jim McCarthy, global head of product: "At this point, Visa has no plans to implement a digital wallet fee."