The Green Sheet Online Edition
December 28, 2009 • Issue 09:12:02
Prepaid in brief
Green Dot keeps employees in the pink
Green Dot Corp.'s founder and Chief Executive Officer Steve Streit informed employees at the company's Thanksgiving luncheon that they will be eligible to receive free health insurance benefits beginning in 2010. In addition, Green Dot will provide the same benefits to children of employees at $1 per day.
The free health insurance offer - a Blue Cross health maintenance organization plan - is extended to all of Green Dot's Southern California-based employees, regardless of position or full- or part-time status. The company also reduced the costs for workers who favor other health care plans.
Rushcard helps with members' RXs
To help ease the health-care burdens of its cardholders, UniRush LLC launched a free prescription drug discount program. The company will distribute at least 1 million of the cards to RushCard members, which will give them 10 to 85 percent price reductions on generic and brand name prescription drugs. "[Many] people have to choose between paying their bills or buying their prescription drugs," said UniRush founder Russell Simmons. "Our new prescription card program will give our cardholders the resources to make those choices a little easier. Our members' physical health is just as important to us as their financial health."
ACE Cash Express donates $25K
ACE Cash Express Inc. donated $25,000 to Junior Achievement of Dallas. The donation, made through the ACE Community Fund, was presented to JA of Dallas at an Irving, Texas, elementary school where ACE associates were presenting JA's JA in a Day program to third through fifth graders. Twice a year ACE associates participate in the program, teaching local grade school students the fundamentals of finance and economics.
Blackhawk's Ideal deal
Blackhawk Network Inc. eliminated after-purchase fees on its Ideal Gift gift cards purchased through Blackhawk's Card Mall and on GiftCardMall.com. The elimination of post-purchase fees applies to new and previously purchased cards.
FIS receives double honors
Banking and payment technology provider Fidelity National Information Services Inc. (FIS) won the BankNews Media's 2009 BankNews Innovative Solutions Award for Best Consulting/Outsourcing/Training Solutions. FIS also won the Prepaid Awards 2009 prize for Best Prepaid Services Provider.
Green Dot's Streit receives award
Green Dot's founder and CEO Steve Streit received the 2010 Humanitarian Award from the Hollenbeck Police Activities League for his ongoing service to PAL and volunteer efforts with various Los Angeles County organizations that benefit children.
MoneyGram cuts fees
MoneyGram International temporarily reduced its fees on money transferred to El Salvador via its agent locations in Spain.
The action was designed to ease the burden of Salvadorans as they recovered from Hurricane Ida which hit Central America in early November. The fee reduction lasted from Nov. 25 to Dec. 12.
Travelex wins major awards
Travelex was doubly honored by the 2009 Prepaid Awards, taking home Best International Prepaid Program for Cash Passport and Best Corporate Prepaid Program for Travelex's Airline Compensation programs. The awards were distributed at a black tie event in London on Oct. 13.
Bridgewater launches My Surprise Card
Calgary, Alberta-based Bridgewater Bank, a wholly owned subsidiary of the Alberta Motor Association, partnered with Montreal-based Postatel Inc. to launch the My Surprise Card, a prepaid card available in denominations of $25, $50 and $100, and accepted at Canadian retail locations.
Commerce Online signs with pot dispensary
Commerce Online Inc., through its Collective Card Services Division, entered into a partnership with Beverly Hills-based medical marijuana dispensary Healthy, Wealthy and Wise Inc. to offer its prepaid solution for marijuana purchases.
The prepaid card can be loaded with any denomination of funds using direct deposit through a local bank, the Internet or at the collective or dispensary's POS.
EMSystems taps SparkBase
Electronic Merchant Systems chose SparkBase, a private-label, stored-value card processor, to power its Altus Primier prepaid card. Both companies are headquartered in Cleveland.
MoneyGram's moving up
MoneyGram International expanded its presence in India with two new offices in Nepal, near Mt. Everest. One office has the distinction of being at the highest elevation in the world for a money transfer agent location, according to MoneyGram. The locations were opened in partnership with Samsara Pvt Ltd., Moneygram's super agent partner. Moneygram also added two new partnerships with Indian banks.
One World Ventures teams with eCommLink
Bethesda, Md.-based prepaid card provider One World Ventures Inc. partnered with eCommLink Inc., a prepaid processor, to develop and distribute corporate prepaid solutions and remittance programs. Steve Prior, CEO of One World Ventures, said the "adaptive nature of the eCommLink platform" will support the company's business model now and in the long term.
TransCard, UPMC, Pitt team for prepaid
TransCard LLC, the University of Pittsburgh (Pitt) and The University of Pittsburgh Medical Center partnered for a prepaid solution to pay medical study participants.
WePay, the payment processing system developed by UPMC and Pitt, was integrated into TransCard's systems to electronically distribute payments.
UniRush renews with TSYS
Cincinnati-based prepaid solution provider, UniRush renewed its long-standing partnership with Total System Services Inc. (TSYS) to power its RushCard, a prepaid Visa debit card.
"Our relationship with UniRush is one we are extremely proud of, and we're excited to have the opportunity to continue partnering with a true innovator in the prepaid business," said Rod Boyer, President of TSYS Loyalty and Prepaid.
Veritec adds mobile banking to kiosks
Prepaid card program distributor and processor Veritec Financial Systems Inc. (VTFS), a subsidiary of Veritec Inc., entered into a memorandum of agreement with Hot Springs, Ark.-based Cities in Touch to integrate VTFS' mobile banking software platform with CIT's ATM and debit card-issuing kiosk systems.
Western Union reaching out
The Western Union Co. selected YellowPepper Mobile Financial Solutions, a mobile commerce provider in Latin America, as a participant in Western Union's Digital Vendor program to introduce cross-border transactions into the YellowPepper system.
Additionally, prepaid card distributor InComm agreed to offer Western Union's GoCash service - a money transfer service available at grocery and convenience stores, pharmacies, and mass merchandiser locations.
Zeevex adds Owlient, Sunleaf
Virtual currency provider Zeevex Exchange Inc. signed an agreement to distribute prepaid game cards for Owlient's and Sunleaf Studios' online games. The Zeevex Xtreme Game Card is available at 22,000 U.S. retailers.
NCP acquires PPS
Navigation Capital Partners Inc. acquired the assets and associated liabilities of Prepaid Solutions USA via a newly formed company, Prepaid Solutions Inc. (PPS).
NCP makes moves
As part of Navigation Capital Partners' acquisition of Prepaid Solutions USA, NCP appointed Ken Goins as CEO of PPS and Eric Ohlhausen as Chief Financial Officer of PPS.
Incentium taps Hasson, Bagley
Incentium, formerly VIPGift, welcomed Kelli Hasson and Michael Bagley as Sales Directors. The two will jointly oversee Incentium's U.S. manufacturing vertical. Vicki Church, Vice President of U.S. Sales at Incentium, said, "Their combined loyalty and incentive industry expertise will help boost our efforts to aggressively target our 2010 sales goals."
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