The Prepaid Press - April 15, 2008 - (Page 22)

PAYMENTS April 15 · 2008 - 22 AccountNow Ends Upfront Fees Non-Traditional Banking Offers New Services SAN RAMON, CA (March 19, 2008) AccountNow has added a new prepaid MasterCard with no upfront fees to its list of services. iAdvance is targeted at the estimated 40 million Americans who don’t have bank accounts. The card is offered with no upfront fees for new accounts with direct deposit. “Our mission is to provide people who don’t have bank accounts with the tools and services they need, but can’t get, to improve their financial lives,” said Tim Coltrell, Chief Executive Officer of AccountNow. “With our latest suite of innovative new services we’re demonstrating that we are responsive to the needs of our customers and are committed to stepping outside of the status quo to solve some of their biggest pain points for managing their money.” The card is the latest AccountNow offering, which includes: Money 411 Resources for the Unbanked: an information network designed specifically for those who do not use, or have been unable to get, a traditional bank account. Money 411 provides articles, tips and advice to help consumers maneuver the financial roadblocks they face on a day to day basis; iAdvance, a short-term loan product available with the AccountNow Vantage Prepaid MasterCard from MetaBank. iAdvance gives customers access to short-term credit that can be accessed 24/7 via a customer’s prepaid card. It is available to cardholders with certain general use and payroll prepaid cards issued by MetaBank, a federally chartered savings association located in Sioux Falls, S.D. AccountNow is based in San Ramon, CA. Source: AccountNow (www.accountnow.net) NetSpend to Offer Bill Payment and Top-up Procesa to Handle Transactions AUSTIN, TX (March 3, 2008) NetSpend Corporation has entered into an agreement with Procesa International, LLC., that will give NetSpend customers the ability to pay bills or load minutes to cell phones for friends or family members living in Mexico, Central or South America. Procesa International is the sister company of ProcesaMexico, the largest non-bank processor of bill payments and cell phone top-up within Mexico, processing more than 12 million transactions per month. “We are very pleased to partner with the premier provider of prepaid debit card services,” said Procesa International CEO Patrick Brown. “The relationship with NetSpend will bring cross-border bill payments and top-up services to millions of underbanked consumers living in the United States.” “We are excited to offer Procesa International’s bill payment services to NetSpend cardholders,” said NetSpend CEO Daniel R. Henry. “Offering our customers the ability to pay bills or reload cell phones is a logical expansion of our services and will help meet the current demand for cross-border payments. NetSpend is honored to be the first prepaid debit card company to work with Procesa.” Source: Netspend Corporation (www.netspend.com) Procesa International, LLC (www.procesaintl.com) Union Bank Introduces Contactless Card “Tap & Go” Debit Cards To Have MasterCard Brand SAN FRANCISCO, CA. (March 12, 2008) Union Bank of California, N.A., announced it will provide banking customers with MasterCard PayPass contactless payment technology on their debit cards. The company said PayPass offers simpler, speedier card transactions at merchants worldwide by enabling “Tap & Go” payments. “This will allow our cardholders to get through the checkout faster, with more convenience,” said Arno Hesse, Union Bank of California executive vice president and head of retail market segments. The announcement quoted a recent survey by MasterCard that found U.S. consumers are using less cash these days. The survey said 76% of respondents believe that it is no longer necessary to have lots of cash on hand and two-thirds of respondents (66%) use cash less often than five years ago to make purchases. “We are always looking for ways to offer cardholders features that add value and convenience,” Hesse said. “With MasterCard PayPass, our customers will have a more convenient payment option that is simpler and quicker than cash. It is an extension of our commitment to serving them when, where and how they like to bank.” Bill Mathis, group executive, US relationship management, MasterCard Worldwide, said, “Offering PayPass will differentiate Union Bank of California from its competition and drive its bottom line as more transactions, especially those that were traditionally made with cash, shift to its card portfolio.” To use the feature, Union Bank customers tap their PayPass-enabled debit cards on a PayPass reader located at the point of sale of participating merchants. For transactions under $25, most merchants don’t require customers to sign a receipt. To signal a customer’s purchase is complete, the reader will flash a light and produce a tone sound. The Union Bank of California Debit MasterCard PayPass card also has a traditional magnetic stripe and can be used anywhere Debit MasterCard cards are accepted. Beginning March 17 in the Los Angeles market, 100,000 Union Bank Debit MasterCard cardholders were issued replacement cards equipped with PayPass technology. The rollout will continue statewide until nearly one million Union Bank debit cardholders eventually receive them. The card will automatically be issued to all new debit customers. MasterCard PayPass is ideal for traditional cash-heavy environments where speed is essential, and has led the way in bringing contactless technology to consumer categories such as quick serve restaurants, drug stores, gas stations, vending machines, convenience stores, sports arenas, movie theaters, transit systems and parking garages. PayPass is accepted globally at more than 95,000 merchant locations, including CVS, Regal Cinemas, McDonald’s, 7-Eleven, Whole Foods, and Office Depot. Union Bank of California, N.A., is a subsidiary of UnionBanCal Corporation (NYSE: UB), a bank holding company with assets of $55.7 billion and 330 banking offices in California, Oregon and Washington. MasterCard processes over 18 billion transactions in more than 210 countries each year through its family of brands, including MasterCard, Maestro and Cirrus. Source: Union Bank (www.unionbank.com) MasterCard International (www.mastercard.com) Evolution Benefits Acquires SmartFlex Motivano to Exit Flex Business AVON, CT (March 5, 2008) Evolution Benefits has agreed to acquire the assets of Motivano’s SmartFlex benefits debit card business. Motivano said it made the decision to exit the flex business in order to focus on their other products. “After meeting with all our key competitors, we determined Evolution Benefits’ platform was the most technologically advanced, and their team and documented customer service record made them the obvious choice for our customer base. At Motivano we are extremely pleased with this transaction, as it provides our clients with the market-leading solution, and enables Motivano to focus on our other products, ” said Seif Saghri CEO of Motivano/SmartFlex. “Evolution Benefits looks forward to delivering industry leading debit card program capabilities to SmartFlex customers, including high auto-substantiation rates, responsive customer service, multi-account stacking, and comprehensive communications support,” said EB chairman and CEO Robert Patricelli. The release said Motivano and Evolution Benefits have developed a comprehensive plan for transitioning current SmartFlex customers to EB over the next several months. Patricelli noted, “Acquiring the SmartFlex business will allow Evolution Benefits to reach well over the one million mark in cardholder accounts. We also expect the substantial organic growth we’ve experienced over the last five years to continue as consumer-directed health care takes hold and people increasingly resort to tax-favored prepaid accounts to pay for their growing out-of-pocket health care costs.” Evolution Benefits, headquartered in Avon, CT, experienced 43 percent card account growth in 2007. Source: Evolution Benefits (www.evolutionbenefits.com) Payments in Brief PayZone, a provider of PC and Web applications for retail merchants, has appointed Bruce Burke Vice President of Marketing and Sales for PayZone North America. Burke is tasked with the development of national distribution for the company’s bill payment and prepaid applications. PayZone – www.payzone.biz — at any American bank — with Obopay, customers can send money directly from and receive money into that account using any mobile phone. Anyone can pick up money received by having it deposited directly into their existing bank account or by requesting a check.. Obopay – www.obopay.com InComm and CVS/pharmacy have received the Best in Category Award for Best Third-Party Card Retailer in the 2008 Paybefore Awards at the Prepaid Card Expo in Las Vegas. CVS/pharmacy worked with InComm throughout 2007 to build its award-winning category by improving both the quantity and quality of its open and closed loop stored value product offerings. InComm – www.incomm.com UniRush Financial Services has launched its “A Winner A Week” Sweepstakes promotion for cardholders of its Prepaid Visa RushCard and BabyPhat Prepaid Visa RushCard. Cardholders earn one entry for each direct deposit of $50 or more received on their card during the sweepstakes period, March 22 through June 13, 2008. Consumers can deposit their payroll, benefits and tax refunds directly onto the card to enter this sweepstakes. There will be one winner each week, who will receive $250 loaded onto his or her card. RushCard – www.rushcard.com U.S. Bank and Anheuser-Busch are now offering a Budweiser Rewards Visa Platinum Card. Cardholders earn three points for every $1 spent at Anheuser-Busch websites and theme parks, like Busch Gardens and SeaWorld, and with the card. For every 2,500 points earned, cardmembers are automatically sent a $25 Anheuser-Busch Merchandise Rewards Gift Card. Re http://www.netspend.com http://www.procesaintl.com http://www.accountnow.net http://www.evolutionbenefits.com http://www.unionbank.com http://www.mastercard.com http://www.obopay.com http://www.payzone.biz http://Budshop.com http://www.incomm.com http://www.anheuser-busch.com http://www.rushcard.com http://www.BlazeWallet.com http://www.ingenico.com

Table of Contents Feed for the Digital Edition of The Prepaid Press - April 15, 2008

The Prepaid Press - April 15, 2008 Motorola to Split Mobile Payments: The Saga Continues Contents The Retske Report: Election Year and Woody Hayes Regulatory Rundown: 2008 First Quarter Mobile Update 5 Minutes with Mark Herrington tppEXPO’08 Spotlight New Handsets Announced at CTIA Prepaid Wireless in Brief Prepaid Wireless Roundup Virgin Mobile Reports Earnings of 6 Cents Movida Files Chapter 11 LiveWire Mobile Acquires Groove Mobile Boost Selects Vesta for Transactions RadioShack to Offer Trumpet Mobile Service Virgin Offers New Pay as You Go Plans Book Review: Webster’s New World Telecom Dictionary Management Changes at IDT Spot Rates Calling Cards in Brief The State of Prepaid Technology: Productive Coexistence FTC Asks Court to Halt Prepaid Calling Card Scam Louisiana Community Mulls Tax on Prepaid Cards Pactolus Wins VON Magazine Award iBasis Lowers Pakistan Rate for Pingo The Legal Line Biometric Update: Keep Your Shirt On AccountNow Ends Upfront Fees Evolution Benefits Acquires SmartFlex Payments in Brief NetSpend to Offer Bill Payment and Top-up Union Bank Introduces Contactless Card Ingenico Announces Development Kit Prepaid 101: Stupid Card Tricks PLS Offering Walk-In Bill Payment Spend Gift Cards ASAP Credit Card Breach at Hannaford Bros. NACS Withdraws Opposition to Tobacco Bill Study Finds Gift Card Packaging Increases Sales NACS Names International VP Inflatable Display Provides Inexpensive Signage Retail Focus in Brief Our Advertisers Contact Us

The Prepaid Press - April 15, 2008

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