To aid disaster relief efforts in Pakistan, MoneyGram International and Visa Inc. launched campaigns designed to ease the financial burdens of victims caught in floods that have claimed over 2,000 lives and destroyed over 1 million homes.
Through Sept. 20, 2010, money transfer specialist MoneyGram is donating to the American Red Cross the $3 send fee from every MoneyGram electronic money transfer sent to Pakistan.
Meanwhile, Visa partnered with United Bank Ltd. Pakistan and local Pakistani agencies to distribute relief funds to 2 million flood-affected families via the Watan Visa prepaid debit card. The equivalent of $230 is loaded on each card, Visa said.
Dallas-headquartered tax service Ryan Inc. said a New Jersey unclaimed property law will negatively affect issuers of prepaid cards. The law, which is expected to go into affect Oct.1, 2010, will require companies, such as prepaid card issuers holding funds that go unclaimed by consumers, to report and remit the funds to the state after two years of card inactivity, the company said.
Blackhawk Network launched PayPower, a suite of prepaid products and services designed to help consumers control spending, and the Myplash MasterCard prepaid gift card that leverages the popularity of the "The Twilight Saga" movies.
Fortune magazine ranked coin counting kiosk provider Coinstar number 61 on its 2010 100 Fastest-Growing Companies list. In other news, Coinstar Chief Executive Officer Paul Davis rang the NASDAQ Stock Market opening bell in New York City's Times Square on Sept. 3.
Seven massively multiplayer role-playing game publishers tapped Digital River Inc. to manage virtual economies and monetize games through virtual goods and currencies to micro-transactions, global payments, billing, analytics and e-marketing.
MoneyGram International struck a deal with Univision Communications Inc. to give Univision MasterCard prepaid cardholders the ability to load cards at approximately 35,000 MoneyGram agent locations nationwide.
Mobile marketer Street Savings received certification from gift and loyalty card solutions provider Valutec Card Solutions to provide Valutec's merchants with a mobile marketing solution for their customers.
Near field communication technology provider ViVOtech Inc. and mobile contactless company DeviceFidelity teamed to bring contactless mobile payments, loyalty, transit, ticketing and coupon redemption capabilities to smart phones, including Research in Motion Ltd. Blackberrys and Apple Inc. iPhones.
Earthcom Service Inc., a subsidiary of O2 Secure Wireless Inc., agreed to acquire 50 percent equity interest in a 30-year-old Dominican Republic financial institution. Earthcom said the acquisition sets the stage for the expansion of MasterCard Worldwide-branded prepaid cards in the Central American market, where prepaid phone use is dominant.
Wireless phone service provider Spot Mobile International Ltd. tapped Jeffrey Kapner as President of its prepaid phone card subsidiary Spot Mobile Corp. Kapner is a former executive at Total Call International.
Coinstar named Raquel Karls Chief People Officer. Karls brings 20 years' experience as talent recruiter to her new job, Coinstar said.
Prepaid Solutions Inc. expanded its management team with the additions of Peter Mahr as Executive Vice President of Sales and Brad Fauss as Executive Vice President and General Counsel. Mahr has a background in prepaid program management and debit processing, while Fauss is an expert on legal, regulatory and compliance issues affecting the debit, credit and prepaid card industries, the company said.
Prepaid card processor eCommLink Inc. hired Peter Zuong as Chief Information Officer. Zuong will bring 20 years of information technology experience in the financial services sector to the job, the company said.
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