NetSpend Has Growth in Cardholders and Direct Deposit
5/18/2012
NetSpend has increased its number of cardholders and the proportion of those cardholders who load their cards with direct deposit when compared with the numbers from the first quarter of last year. The company predicts future growth because of its...
PayPal Cash Deposit Strategy Introduced
5/18/2012
Using PayPal like a checking account is getting easier for consumers living in Dallas who can drop by their local supermarket, dump cash into a Coinstar kiosk and deposit those funds into their PayPal account. This is one more enhancement...
New Jersey Senate Reconsidering Gift Card Law
5/17/2012
The New Jersey Senate Budget Committee is scheduled to vote on whether or not to remove gift cards from the New Jersey Escheatment law that would require retailers to gather and store zip codes for every purchaser of gift cards...
Online Banking Business Experiences Growth
5/17/2012
From the Motley Fool Like many moneymaking enterprises, financial entities such as banks and credit card issuers haven't been immune to the influence of the Internet. Many banks have offered their customers online banking services for years, but times are...
LAPD Uses Gift Cards to Curb Gun Violence
5/17/2012
For the fourth year, the Los Angeles Police Department has used gift cards to buy guns from city residents in a mover to help reduce violent crime. The Department used $200,000 in gift cards donated by Ralph’s grocery to exchange...
Breaking Free From Underbanked Assumptions
5/17/2012
As the industry gathers more data about how different consumer groups are using alternative financial products, like prepaid cards, the assumptions made about who uses these products and how they use them are being broken up. For example, the study...
Canada's Rogers Communications and CIBC Bank Team Up for NFC
5/16/2012
With nearly 100% of its MasterCard branded cards dual interface (both contact EMV and contactless), Canada has the issuing side of contactless largely in hand and many of Canada's larger retailers support contactless trasnactions as well. Given that, the Canadian...
Fitch Attributes Bank Prepaid Card Launches to Regulation
5/16/2012
Fitch Ratings said in a recent release that banks are offering open loop prepaid cards as a result of the Durbin Amendment caps on interchange income and the imposition of restrictions on marketing credit cards to college students. The company...