Detailed text transcripts for TV channel - MSNBC - 20121021:11:44:00
The customer is coming over here. they take their phone and they have their level of app. they hold it in front of the device. the merchant is here and the transaction is done. you have your phone. you put it here and you pay for the item just like that. >> where do the fees come in for the merchant? >> this is very interesting. this device is free. they give you this and the phone for free. where level-up makes its money is on campaigns. they want you to say j.j. come into high store five times and get $10 off. that's where they will charge you about 40 cents on the dollar for a campaign. >> ...
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