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From: MobileBeat.com Starbucks has processed more than 20 million mobile payment transactions, the company revealed during its earnings call Thursday. Starbucks Mobile Pay, the company’s pay-by-mobile application and in-store scanner system, was rolled out nationwide in January. The system, available at roughly 9,000 locations, lets iPhone, Android and BlackBerry users with the Starbucks or Starbucks Card Mobile applications pay with their phones by scanning 2D barcodes on the screen at store registers. Nine weeks after it launched the apps, Starbucks had processed more than 3 million mobile payments. “The number of mobile payment transactions increases every month … we see sequential month-over-month increases in the number of customers that use mobile payment,” Adam Brotman, Starbucks’ vice president and general manager of digital ventures, said in an interview with VentureBeat. “Twenty million transactions speaks volumes.” There are now more than one million smartphones with at least one registered Starbucks Card, the company also disclosed during the earnings call. Users can expect more enhancements to the application in the weeks and months ahead. “We are leaning way in to how we can continue to enhance the app,” Brotman said. With the continued success of Starbucks Mobile Pay, the coffee retailer maintains its status as a leader in mobile payment space, while the more technology-heavy systems that Google, Square, Jumio and others are pushing are just getting off the ground.
From Payments.com The latest Fraud Index from Experian®, the global information services company, has revealed that identity fraud attempts doubled in the first half of 2011, compared to Q4 in 2010. This pushed up the overall level of application fraud attempted against UK financial services firms for the third successive quarter. The analysis, published at Experian’s annual Identity & Fraud Forum, reveals that identity fraudsters were responsible for eight in every 10,000 applications made in Q2 2011 (April – June 2011), double the number of fraudulent applications recorded in the final quarter of 2010. This was driven by a 340% increase in current account identity fraud, from five to 22 in every 10,000 applications. Experian’s analysis also highlights that 18 in every 10,000 applications for automotive finance, credit cards, insurance, loans, mortgages, current accounts and savings products made in the second quarter of 2011 were found to be fraudulent. These were five per cent higher than January to March 2011, and up nine per cent on the year. Over the same period the number of first-party fraud attempts – where a genuine individual misrepresents their circumstances – remained constant at 10 in every 10,000 applications. 42 in every 10,000 applications for current accounts were detected as fraudulent between April and June 2011, up 20 per cent on the first three months of 2011 and 59 per cent higher than during Q2 2010. For the second quarter in a row, current accounts were the most targeted financial product by fraudsters. Experian’s Fraud Index collects data from both the National Hunter and Insurance Hunter fraud prevention systems, which are managed by Experian on behalf of its clients. Both systems provide a way for financial organisations to protect against fraud by comparing applications with previously submitted ones and pinpointing inconsistencies. This allows companies to immediately flag potentially fraudulent applications for further review. Nick Mothershaw, Director of Identity & Fraud at Experian UK & Ireland, comments: “Identity fraud is back with a vengeance. Our analysis shows that we are witnessing a surge in the number of detected identity frauds, with current accounts the number one target in the UK. Fraudsters see the current account as an easier option, giving them a springboard for money laundering and from where they can also target more lucrative credit products such as mortgages, credit cards and loans.” “Our latest figures suggest that, across the financial services industry, application fraud will increase by at least nine per cent this year.” Fraud rates by financial product type
Automotive finance Automotive finance experienced a decrease in attempted fraud for the fourth quarter in a row in Q2 2011, declining by 12 per cent on Q1 2011, and 49 per cent year-on-year. Fraud attempts on this sector now stand at 24 in every 10,000 applications. Based on fraud rates in the first half of the year, Experian predicts automotive fraud rates will fall by more than 30 per cent this year. Credit cards Credit card fraud increased by three per cent for the second successive quarter. 12 in every 10,000 applications for credit cards were found to be fraudulent in the second quarter of 2011, although this was significantly lower (down 36 per cent) year-on-year. Experian predicts that the level of card fraud might fall by as much as 40 per cent in 2011. Insurance The insurance sector has seen fraud attempts remain at 12 in every 10,000 applications for the second successive quarter in the period April – June 2011. This was, however, a 51 per cent increase on the same period in 2010. Experian’s data suggests that the insurance industry might see insurance fraud increase by more than 30 per cent in 2011. Loans Loan fraud has continued to decrease and is now the least targeted credit facility of the financial products Experian analyses, with only six in every 10,000 applications found to be fraudulent. Compared to Q1 2011, this is a drop of 10 per cent, and 15 per cent on the same period last year. Experian believes that loan fraud rates will be six per cent lower in 2011 than they were last year. Mortgage Mortgage fraud has decreased for the first time since Q3 2010, down five per cent on the previous quarter and nine per cent over the year. The rate of attempted fraud now stands at 32 per 10,000 applications, placing it lower on the scale than current account fraud, which overtook it as the most targeted financial product for the first time in Q1 this year. Experian predicts that mortgage fraud attempts will increase by three per cent in 2011 as a whole. Savings Savings account fraud has increased slightly on the previous quarter (up four per cent), but is down by 64 per cent year-on-year. This corresponds to the increase in fraud attempts on current accounts as fraud rings often use these easier targets as a way to gain access to more lucrative services. Experian anticipates a 40 per cent fall in savings fraud attacks during 2011 as a whole. About Experian Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft. Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was US$4.2 billion. Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and SĂŁo Paulo, Brazil. For more information, visit http://www.experianplc.com.
PaymentsSource | Wednesday, November 2, 2011 By Sean Sposito
American Express Co. will provide prepaid campus ID cards to University of North Florida students, the card company announced Nov. 2. The product is Amex's first prepaid campus ID Card. Amex has been expanding into prepaid in recent months with products aimed at consumers that typically would not consider them candidates for an Amex credit card. In June, Amex launched a nearly fee-free prepaid card (see story). In March, Amex launched Serve as a digital wallet for the masses (see story). Consumers may use any card brand or bank account to fund Serve transactions, and it works automatically with any merchant that already accepts Amex cards. The campus ID card will allow students to pay for meals on-campus and to make purchases off-campus with merchants that accept Amex transactions. "We are proud to provide University of North Florida students with a safe and secure payment tool with our reloadable prepaid card," Stefan Happ, a senior vice president and general manager of the Americas with Amex's Global Payment Options business, said in a press release. The campus card will carry no fees for monthly maintenance, activation, balance inquiries, alerts and foreign currency conversion. The first monthly ATM cash withdrawal is free, but there is a $2 fee for subsequent withdrawals. Consumers may the card account through an automated clearinghouse funds transfer or by using a Green Dot Corp.'s Money Pak. PaymentsSource | Friday, October 28, 2011 By Sean Sposito
When Russell Simmons visits to show his solidarity with the Occupy Wall Street protestors, he probably does not bring the new diamond prayer beads he was bragging about on Twitter. Simmons, best known for his work in the music business and, more recently, his high-fee prepaid card, is one of a handful of financial services executives trying to align their image with the Occupy Wall Street protests. Some are doing it more gracefully than others. Simmons, through his Twitter account and personal appearances at the protest site, constantly broadcasts his support for the struggling protesters. But he has already a reputation in financial circles for profiting from the high fees his company’s prepaid card charges. His tweeting about diamond prayer beads don’t help that image.  Brett Weinstein“You have to worry if this guy is a wolf in sheep’s clothing,” says Brian Riley, a research director at TowerGroup. Simmons’ decision to use his clout to promote financial awareness while gouging customers with his prepaid card’s fees “is inherently hypocritical,” says James Van Dyke, the president and founder of Javelin Strategy and Research. Simmons’ RushCard carries with it some of the highest fees in the prepaid industry, charging $9.95 a month for regular use under one of its pricing plans. Even the short-lived Kardashian Kard, which was widely vilified for its pricing, charged $2 less per month. In June, Florida’s attorney general announced an investigation of UniRush LLC, the marketer for the RushCard, and several other prominent prepaid card providers for their fee disclosure practices. UniRush did not respond to requests for comment. Simmons did not respond Oct. 26 to an inquiry sent to his account on Twitter. However, in Twitter messages Simmons has acknowledged that his wealth places him outside of the protestors’ identity as the “99%” of the population fighting back against the wealthiest 1%. “I am part of the 100%,” Simmons tweeted Thursday morning. “If anyone or anything suffers, I suffer.” (Simmons repeated the message seven hours later with an #ows hashtag, which is used to give Twitter messages more visibility.) The protesters say they are not surprised that Simmons and other financial executives are seeking to win them over. “You are going to have people coming in here, lobbying for this particular thing or that,” Walter Hillegass, one of the protestors at the movement’s New York site, said Oct. 26. “They know there is money here.” Hillegass, a 35-year-old unemployed plumber from Jackson Heights, Queens, has been present for the protests through much of its run. He developed an auto-immune disease after working close to the World Trade Center site and joined the protests to send a message about the poor state of health care. PaymentsSource | Monday, October 31, 2011 By Andrea McKenna Brankin
Giftango has expanded its ordering interface so online retailers may sell both virtual and physical cards, the gift card provider announced Oct. 27. Giftango is adding physical gift card delivery to its e-gift card service, which processor Vantiv LLC supports through its prepaid platform, David Nelsen, Giftango CEO, tells PaymentsSource. Retailers such as organic grocer Whole Foods are using the application. The gift card platform enables consumers visiting participating retailer sites to buy both virtual gift cards for electronic delivery and physical gift cards for mailing to recipients, an option Nelsen says was in demand.  The addition of physical card delivery helps Giftango’s retailers to target more types of consumers, says Brian Riley, senior research director of bankcards for TowerGroup. “This is a way to hit all the age groups,” he says, noting younger consumers are used to such digital products as video games and iTunes files, while older consumers may appreciate a physical gift card more. Having more types of gift cards available also benefits retailers who may want to carry more than one kind of design on their cards, says Nelsen. And consumers can buy both the electronic and the physical gift cards in the same transaction while sending the cards to different recipients by either email or SMS text or to a physical address by mail, he says. Giftango work with more than 300 merchants in the U.S. and Canada. The company expects to add 15 national merchants over the next month, says Nelsen.
By Will Hernandez
Green Dot Corp.’s decision to expand its prepaid debit card offerings at Wal-Mart Stores Inc. might be a sign the prepaid market is starting to see the limits of targeting unbanked and underbanked consumers, notes one analyst. Wal-Mart’s MoneyCard program now will include a Visa-branded Gold card, a MasterCard-branded Family Edition card and a MasterCard Bill Pay card. Green Dot deigned the cards to better serve specific segments of Wal-Mart’s customer base, according to a press release. Green Dot expects the expanded MoneyCard category will contribute to new card activations, Steve Streit, Green Dot chairman and CEO, told analysts Oct. 27 during a conference call to announce the company’s earnings. Consumers activated about 1.96 million of Green Dot’s general-purpose reloadable debit cards in the third quarter. That represents an increase of 33%, or 490,000, from the previous year (see story). The Gold card has new packaging, and the Family Edition MoneyCard comes with an additional card parents can give to a family member, Green Dot says. Both the purchase and reload fee for the cards is $3. An ATM withdrawal costs $2. GE Capital Retail Bank Co. Ltd. issues the cards. Green Dot, which traditionally has marketed its products to the financially underserved, appears to be breaking out of that segment to show consumers they can use prepaid for a variety of purposes, notes Ben Jackson, a senior analyst for prepaid advisory service at Mercator Advisory Group. Some 60 million U.S. consumers are underbanked and unbanked, he says. “That still leaves another 300 million consumers, and this might be Green Dot’s way to try and not ignore them,” he says. Targeting more-affluent consumers with prepaid is nothing new. American Express Co. does so with a cobranded card with the American Automobile Association, Jackson notes. “There is a recognition [by prepaid card providers] that everyday people also need to be careful with their money,” he says. Google Wallet in Action (UNCENSORED!) – pymnts.com. This article is part of the MasterCard CEO, Top Execs Review Strategy & Preview Latest Innovations Briefing Room. See the rest of this briefing room
Google Wallet in Action (UNCENSORED!)
“By the end of the month, we’ll have it live into the market,” commented Chief Emerging Payments Officer Ed McLaughlin. But for many, the notion of a digital wallet is still new. PYMNTS.com got to experience the Google Wallet up close and personal and saw how it integrates with other MasterCard features, such as budgeting tool inControl. Watch what happens when PYMNTS.com exceeds our allotted “entertainment budget” (hey, as the song goes, girls just want to have fun…) and hear Ed McLaughlin reveal the list of merchants participating in the Google Wallet pilot: (Editor’s Note: Google Wallet launched shortly after MasterCard Media Day 2011 on Sept. 19th.) MasterCard’s Emerging Payments SVP Offers Insider’s Look at Google Wallet & mPayments – pymnts.comMasterCard’s Emerging Payments SVP Offers Insider’s Look at Google Wallet & mPa MasterCard was the top result when Google was initially searching for a payments partner to power its new digital wallet. With Google Wallet’s much-hyped debut this week, PYMNTS.com wondered how this collaboration will fit into MasterCard’s overall mobile strategy, and is it a sign the company is placing its bets on NFC adoption? Mario Shiliashki, SVP & Group Head of U.S. Emerging Payments at MasterCard, gives MPD CEO Karen Webster the inside scoop in this exclusive NEXTcast interview. From MasterCard’s “The Heart of Commerce” Blog: First Release of Google Wallet with MasterCard Now Available for Sprint Nexus S 4G customers! Part 1: Currently, where can Google Wallet be used, what is the game plan for getting the word out to the everyday consumer and who will have access to view the transaction data? Part 2: How will the digital wallet impact overall payments dynamics, and is MasterCard placing its mobile bet on NFC?
What’s really in the works at MasterCard as far as payments innovation and product development? PYMNTS.com got the inside scoop last month at the 2010 MasterCard Worldwide Media and Analyst Symposium. PYMNTS took a break from live blogging during the event sessions to chat one-on-one with Ed McLaughlin, Chief Emerging Payments Officer, and Chief Product Officer Tim Murphy. In these exclusive video interviews, the executives opened up about MasterCard’s product development strategy, including the company’s API initiative, as well as offered their take on “what’s next” for the payments industry. Full article: http://www.pymnts.com/mastercard-s-top-executives-share-payments-predictions/?hpb
According to Profit-Point, Inc: http://www.rewardforloyalty.com/index.php, The new rules that will go into effect pertain to: Dormancy Fees, Service Fees, and Expiration Dates for gift cards. Dormancy Fees Service Fees The new rules will only affect gift cards. They will not apply to loyalty cards or promotional cards. Please check the legal language usually found on the back of your gift cards to see if these changes in the gift card laws apply to you. We can tell you if your gift cards are in compliance or if you will need to have new gift cards printed. There are fines associated with failure to comply with this legislation. We want to ensure that your gift cards comply so you can continue to profit from them.
myplash-plainwhitets-teencardMYPLASH™ is the prepaid debit card that connects you to your money and to your favorite music artists, athletes and brands. And MYPLASH is the only card that gives you access to tons of great exclusive offers and discounts at THE MYPLASH MALL. Use your MYPLASH card anytime, anywhere Visa® debit is accepted, including online and retail. With MYPLASH you won’t have to carry around a wad of cash or, worse yet, any pesky coins. But if you do need some cash, just go to any ATM. Find the nearest ATM here. You can also load funds onto a friend’s MYPLASH card. Use a BUDDY MONEY™ TRANSFER to make sure a friend has enough on his/her card to buy you that extra concert ticket! MYPLASH let’s you easily monitor your card account balance online or by phone. You can also get your account information sent to your mobile with free MYPLASH™ TEXT ALERTS to your phone. Reloading your MYPLASH card is easy, so you’ll always have the funds you need. Your parents can reload MYPLASH at thousands of retailers and online via direct deposit or by using their credit card.
by Drew McLellan (www.drewsmarketingminute.com) I’ve been both hustling and bustling to get my Christmas shopping done. One of the items I have purchased at many different retailers is a gift card. I’m guessing most of you have bought more than one this holiday season so you know how easy it is. You select the card design of your choice, you carry it up to the check out, you request a dollar amount and voila, you have a gift card. Pretty standard. But not always. I was at my bank earlier this week, making a deposit when I saw a display for VISA gift cards. I needed one for a gift so I thought…great, I’ll just get it here. When I told the teller what I wanted, she was more than happy to sell me the VISA gift card. Here’s how the process went. I pulled my credit card out of my wallet. “Oh no, sir. We can’t take a credit card for the gift card.” Turns out they could….but it had to be a cash advance. So I had to sign a form for that. I smiled and said, “no problem.” Then, I had to fill out a different form with my name, address, etc. on it so they could register the gift card. I smiled and said, “no problem.” Then…I had to read a 2 page disclosure and sign it. I smiled and said, “no problem.” 10 minutes later, I had my $50 gift card. I could have bought the exact same card at my local grocery store or Walgreen’s in 30 seconds. I kept saying “no problem” but — for that bank, it was a big problem. * A problem of lost esteem. (I’m a good customer and I had to sign 3 different forms to buy a stinking $50 gift card?) And they probably made $1 on the transaction, if that. Many businesses, in an attempt to be everything to everyone or perhaps to squeak out yet another few pennies of profit — do things that they’re not good at. If you’re guilty of this — stop it. If you aren’t great at it, don’t do it. And if you know you can’t at the very least — be as good as your average competitor — for the love of God, don’t do it. Whenever we step away from our sweet spot — the thing/things that we excel at (and that our brand should be associated with) we do damage. We damage our reputation, we damage our relationships and we damage our ability to be perceived as the best. Next time you want to add a product or service to your offerings…ask yourself the very difficult question. Are we good enough to even try this? If you can’t be better than most — don’t. original post: http://www.drewsmarketingminute.com/2009/12/are-you-good-enough-to-even-try-it.html
The Mini Starbucks Card is a convenient way to always have your Starbucks Experience at your finger tips – just clip it to whatever you like (keys, gym bag, etc.) and continue to enjoy your on-the-go lifestyle. I clipped mine to my racing bike, so I am never without a doppio espresso when I need it – I just cycle to a Starbucks store and swipe my Mini Starbucks Card – no wallet required! My friend Sally has hers clipped to her dog’s leash, making it a convenient stop for both of them on their daily walk. The Mini Starbucks Card works just like a Starbucks Card; register it to enjoy rewards, benefits and to protect your balance too! Yesterday we had a contest to see who could send us the best picture of something mini. The votes are in and the winning photo is below. “It is a shiny man made out of paperclips, drinking his coffee outside on a nice day in Seattle. And, even though we don’t have Cardinals here, I added one anyway! Drawn, constructed, and photographed by me.” Congratulations Elly – you win a Mini Starbucks Card loaded with $5! Even if you didn’t win the mini photo contest, you can still win a Mini Starbucks Card. The first 20 people to post a comment on this blog about their favorite mini thing will also receive a $5 Mini Starbucks Card (see rules).
from Justin Mason’s weblog: Note the little rectangular logo at the bottom. According to Ed Hasbrouck, that’s the ICAO standard logo indicating that this is an RFID passport, and therefore: “identity thieves, terrorists, direct marketers, data aggregators, malicious governments, or anyone else with a radio receiver within 10 meters (30+ feet) or more whenever your passport is read at a border crossing, airport, etc. can secretly and remotely track you, log your movements through the unique “collision avoidance” ID number sent by the chip, and intercept and decrypt all the data (including your digital photo and, in some countries, your digitized fingerprints) needed to “clone” a perfect copy of your passport, forge other identity credentials, or impersonate you.” Of relevance are the comments over at Bruce Schneier’s weblog entry regarding the Riscure research into the Dutch Biometric Passport’s lousy security. Interestingly, as one commenter there notes, breaking the crypto may be overkill; the knowledge that a person is carrying a passport from a certain country, or set of countries, may be enough for certain attackers. Another interesting article here: By Craig Mathias on Thu, 07/23/09 – 1:40pm. While we’re on the theme of governmental incompetence, I saw this piece on the fundamental insecurity of the passive RFID chips now being embedded in US (and a few other) passports. While I don’t think most of us have much to worry about in terms of personal physical security while abroad (being kidnapped in the south of France but technologically-sophisticated terrorists? I don’t think so…), such is, well, OK, possible. Rather, the problem here is the continuing and fundamental disregard and disrespect for the rights of individuals. That’s a huge tragedy in and of itself that could lead to all kinds of lesser but still irritating (at best) outcomes, like ID theft. As I’ve argued before, personal information should belong to the individual and should be released to a third party, any third party, only with explicit permission – meaning that the user should be required to take an action to cause the sensitive or otherwise protected information to be transmitted or otherwise communicated. This would render a chipped passport inert until such time as the holder explicitly authorizes the release of any stored data. So, at US Customs, you’d key in your PIN and voila, the data is communicated only at that time. Skimming, scanning, whatever wouldn’t work. Too complex? I don’t think so. How much is personal information security and integrity really worth? There’s an obvious and very similar problem with credit cards as well. In an effort to counter fraud, the issuers put a printed (not embossed) CVV/CV2/CSC2/etc. on the card. This adds another layer of authentication, sure, but it’s useless in electronic transactions as once the recipient has the code it’s now compromised and fraud is again a possibility. How about this: you give the merchant your card number and expiration date, and then the credit card issuer verifies CV2/whatever out of band, via a Web page, secure e-mail communication, whatever. Too much, again, trouble? OK, again, how much is personal information security and integrity really worth? The answer in all of the above cases is: not much. And people complain about wireless being insecure? It ain’t the channel that’s the problem here.  multimedia barcodes From Scientists have developed what they claim are new barcodes big enough to hold images or video which can then be downloaded by camera phones. The India Times reports. quotemarksright.jpg A team at Edith Cowan University in Australia is looking for a way out for multimedia data to be stored in barcodes and retrieved with a mobile phone camera snapshot, allowing software such as ringtones to be “downloaded” from mediums like magazines. They have named it the Mobile Multi-Colour Composite (MMCC) 2D-Barcode, the media reported. Lead scientist Dr Alfred Tan said, “The MMCC is a colour 2D barcode designed for storing high capacity data on printed media and displays, tailor made for camera mobile phone applications. “Using the MMCC, the user can retrieve digital content to their camera mobile phone directly from the barcode by capturing an image of the barcode and decoding it on their mobile.” According to the scientists, by taking a photo of the barcode, users can download complex information, such as videos, voice recordings or text, directly to their mobile — this information will be transferred to the mobile regardless of whether it is connected to the Internet or a mobile. “The system is particularly suited for use in areas with limited Internet access. The MMCC can encode and store multimedia content such as ring tones, video clips and games, so that these can be delivered to any camera mobile phones anywhere without the need for mobile connectivity. “It could also encode and store multimedia tourism contents in foreign languages so that tourists with a camera mobile phone can listen to the commentary at remote tourist sites, without the need to read English,” Dr Tan said.quotesmarksleft.jpg Image from Eurotechnology. From Prepaid Expo: “I never really knew the American Dream consisted of having a piece of plastic that puts people further and further in debt. He goes on to criticize the Visa Rush Card fee structure that charges an activation fee of $19.95, daily convenience fees of $1.00, and even ATM withdrawal fees of $1.95. Russell Simmons recently responded to the publicity and mentioned: “The RushCard is a prepaid card, NOT a credit card. It gives people the convenience of a credit card without the debt. I have watched with pride the way RushCard has changed the lives of hundreds of thousands of people giving them respect and dignity. It gives underserved communities the tools to get their money right.” Prepaid card use rising as credit cards stutter Prepaid cards They’re known as general purpose reloaded cards, and they serve as budgeting tools for those looking to trim spending, and as mobile bank accounts for those just needing a card-based way to spend. The cards are convenient: They can be used at any merchant that accepts the Visa, Discover, American Express or MasterCard logo on the card, and they are growing in use: About $7.1 billion will be loaded on them in 2009, up from $2.1 billion in 2007, according to the Mercator Advisory Group, a research and advisory firm for the payment industry. “Because of the economy, there is a shift with more consumers going from credit to debit and prepaid,” Brent Watters, director of marketing for Mercator Advisory Group says. “People are reluctant to use credit, and it’s pushing them to another payment vehicle.” Three companies, Green Dot Corporation, the NetSpend Corporation and nFinanSe Inc., are helping with that push by managing and distributing the prepaid cards to a large number of supermarkets, drug stores and check-cashing services. The companies also provide the software, hardware and customer support needed to control all the cards, according to a New York Times article. It works like this: Say you are spending too much on dinner every week and you need a way to budget that money. Instead of allotting some cash in an envelope for dinner, you go to Walgreens, Dollar General, Albertsons or another retailer and pick out a prepaid card. You buy the card for about $6 and load whatever amount of money on it you’ll need for a week of dinner. The company that distributed the card, whether it be nFinanSe Inc. or another, gets some of that $6, plus maintenance, reload and other fees, and you get a well balanced dinner. “Even folks that already have a debit card are using a prepaid card to control spending or to budget,” Watters says. Other than consumers who need to plug their spending, folks without a bank account are also looking at prepaid cards because they don’t include the credit checks and minimum account balances banks require. They’re convenient for large purchases, too, which is nice for someone who can’t get or doesn’t want a credit card. No one can seem to agree as to how many Americans are without a bank account, so the statistic varies greatly — somewhere between 10 and 56 million. Determining that number is difficult because some researchers count users of prepaid cards as having a bank account, and some don’t. And the diverse banking regulatory system, with some banks federally regulated and some regulated by states, makes it tricky to sum up how many accounts there are and how many there aren’t. Regardless what that number might be, it’s certain the companies providing prepaid cards are growing. Green Dot started selling general purpose reloaded cards in 2001 to chains such as Kroger and Walgreens. Today, they are selling to the retail giant Wal-Mart and pulling in $350 million in annual revenue, according to their Web site. Austin, Texas-based Netspend has about $180 million in annual revenue and 300 employees. And nFinanSe, which was founded in 2000, now has 80,000 cards distributed through Dollar General and Winn-Dixie supermarkets. So whether you’re looking to reduce spending or just a new way to spend, be on the lookout for these payment vehicles to take off in the next couple years. See related: 9 ways to budget with a prepaid card, The pros and cons of prepaid debit cards?, All about the Baby Phat Prepaid Visa card Comments or questions, Story archive
The AB Recycled FinancialCard™ is made from a 100% pre-consumer recycled plastic core (88% recycled with an overlaminate) and is specifically designed for financial institutions for use in credit and debit card applications. The material is specially formulated to have a bright white finish – even whiter than the AB RecycledCard™ Arthur Blank currently offers for commercial customers. The material also meets or exceeds all ISO and ANSI specifications for CR80 payment cards. All AB Recycled FinancialCards™ for financial institutions will be processed at Arthur Blank’s secure Mt. Pleasant, Tennessee facility. The 50,000 square foot facility is focused on producing highly secure card products for financial institutions, U.S. and foreign governments, and is a certified secure facility for VISA, Mastercard and Discover. Jake Jacobs, Executive Vice President of Sales and Marketing says “The AB Financial RecycledCard™ provides financial institutions with an ISO/ANSI certified payment card with the highest known percentage of recycled content in the industry today. Now the payment industry has an excellent option to better serve their environmentally conscious customers.” Arthur Blank’s introduction of the AB Recycled FinancialCard™ is the latest addition to Arthur Blank’s GreenLine™ suite of environmentally friendly stock choices that also includes the CornCard USA®, AB RecycledCard™, AB BiodegradableCard™, and the AB HybridCard™. ### About Arthur Blank & Co., Inc. a subsidiary of American Banknote Corporation About American Banknote Corporation Media Contacts: as posted on sustainableisgood.comREI Corn Based PLA Gift Cards
Washington-based outdoor company REI is using new biodegradable gift cards made by NatureWorks. The gift cards are made from PLA which is a corn-based bio-plastic. The new cards replace the company’s previous designs and are available across the country. REI’s move to the PLA cards follows similar offerings from Target and Toys R Us who have each offered some type of more eco-friendly gift card options to their customers. Posted by Rider Thompson on April 29, 2008 in biodegradable , Gift Cards | Permalink |
Can You Shop and Benefit the Environment? Absolutely, positively, yes! Washington Square just launched the Give Green gift card—the ultimate gift. It’s the first ever gift card to give back to an environmental nonprofit organization. Do more with your gift card purchase—this is feel-good shopping! With each Give Green gift card purchase, Macerich (Washington Square’s parent company) donates $.70 to American Forests’ Global ReLeaf program. Founded in 1875, American Forests is a world leader in planting trees for environmental restoration. Macerich is committing to a minimum of $100,000 to help American Forests improve our environment, but with your help, that’s just the beginning.Because it’s an American Express branded card, it can be used at most Washington Square stores and restaurants and millions of merchants nationwide! Want to personalize your Give Green Gift card? Package it with another, smaller gift (like an all natural soy wax candle from Yankee Candle, a bamboo cotton throw from Pottery Barn, or a earth friendly cosmetics from Sephora) and wrap it all up in a big bow! Gift cards are available at Washington Square Guest Services. Give the Gift of Green this holiday season—your friends and family can feel good about their purchases, knowing that they’re doing just a little bit more to help the environment. For more information, click here! In progress… Coming soon Article in progress… Don’t you dare use the cheesy clip-art picture of a present on the face of your gift card! A gift is only as special as the thought put into the presentation and selection. Good design doesn’t have to be expensive. We are compiling a list of examples of what NOT to do with your card design as well as a list of helpful design resources so you can create custom cards without spending a fortune. Feel free to send submissions and I will add them here. What NOT to do:
Coming soon….. After being immersed in the world of prepaid cards since “the beginning” (just over a decade ago). From design to production, barcodes and mag stripes to pin activation and distribution – I have been presented with just about every bizarre challenge or scenario one could possibly imagine. I have designed cards for many National retailers and secure packaging (“carriers”) for and solved point-of-sale activation challenges for American Express, MasterCard, Best Buy, Bath & Body Works, Kroger, Fred Meyer, Safeway, InComm, BlackHawk Network, Stored Value Solutions, TMobil, MCI WorldCom, Holllywood Video and countless others. The goal for this blog is to the share the knowledge and resources I’ve obtained over the years and hopefully save those involved in product development, purchasing and project management some of the inevitable headaches that accompany the many idiosyncrasies of point-of-sale activated products. I’d also like help foster creativity, development and continuous improvement of the design, technology, production processes involved with all prepaid products. I encourage you to ask questions, share your own experience, and contribute your knowledge. I hope to add MANY resources in the near future so stay tuned and please visit often. Thanks!! Erin Kistner Kistner Group LLC |
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Oct 17, 2011, 7:00pm
MasterCard, Google and Citibank have teamed up with Google to develop its 
yments – pymnts.com
According to 
Are you good enough to even try it?
Introducing the Mini Starbucks Card!!
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