It has been estimated that a banking transaction over the telephone costs half as much as the same transaction conducted over a counter in a traditional branch, and that an ATM transaction costs a quarter as much.
Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.
The bearer nature of these digital instruments like the cryptocurrency bitcoin will keep transaction costs low by eliminating third-party processors and counter-party risk.