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The Green SheetGreen Sheet

The Green Sheet Online Edition

August 22, 2011 • Issue 11:08:02

Prepaid in brief

The Green Sheet, Inc. NEWS

 

Senators target prepaid in AML bill

U.S. Senate bill S1419, drafted by Senators Amy Klobuchar, D-Minn., Tom Udall, D-N.M., and Jeanne Shaheen, D-N.H., would require prepaid cards that hold funds in excess of $10,000 be declared when cardholders enter or exit the United States. Travelers need to declare cash totaling over $10,000 when entering or leaving the United States, but the policy does not include prepaid cards, which makes them a prime tool for money laundering, the senators said.  

On continent, South Africa is place for prepaid

At the first Gift Card & Prepaid Seminar Southern Africa held June 28, 2011, in Johannesburg, South Africa, gift card processor Ceridian Stored Value Solutions (SVS) called South Africa an "economic powerhouse" ripe for prepaid card market growth. Approximately 40 percent of the country's population are unbanked, according to Steve Bradbery, SVS Customer Service Director. "Prepaid cards have been the fastest growing form of payment in Southern Africa for six consecutive years," he said.  

Momentum builds for Mint in Middle East

Middle East payroll card processor Mint Technology Corp. is reportedly growing at a rapid rate. A research bulletin issued by the research division of Ubika Corp. said the largest nonbank prepaid card provider in the Middle East has over 400,000 prepaid cards in circulation in the United Arab Emirates. It was only in April 2011 that Ubika Research said Mint had over 200,000 prepaid cards in circulation in the region.  

The Green Sheet, Inc. ANNOUNCEMENTS

 

Contis pumps 2 million more pounds into prepaid

U.K.-based prepaid card technology provider Contis Group Ltd. has earmarked 2 million British pounds for prepaid card initiatives in the U.K. and India. The latest infusion brings to a total prepaid investment of 7 million British pounds in the last three years, the company said.  

edō Interactive scores venture capital

Prepaid card distributor and social network services provider edō Interactive secured $20 million in Series B financing to fuel the growth of Prewards, edō's flagship digital deals and incentives platform.  

Giftango adds to e-gift offering

E-gift card company Giftango Corp. is making available the Marriott Individual Incentives Stay Certificates to its distribution partners. The addition offers Giftango's 20 distribution partners another loyalty product to be delivered to email and mobile devices.  

Toys"R"Us in Japan gets digital downloads

Via its operations in Japan, Atlanta-based prepaid card distributor InComm introduced gift cards to Toys"R"Us stores in the island nation. InComm implemented its patented POS activation technology in the toy stores and is now offering digital download cards for Apple Inc. iTunes and Nintendo Co. Ltd. games.  

MoneyGram expands in South America

MoneyGram International reported the addition of three new agents to its network in South America: Bancolombia in Colombia, Banco de Credito in Peru and Banco Vision in Paraguay. The additions expand MoneyGram's network by 1,103 new agent locations and expand MoneyGram's foothold in South America to 11,305 locations.  

Western Union hits 1.1 million mark

In its second quarter 2011 financial report, The Western Union Co. said it had 1.1 million prepaid cards in circulation, with retail distribution of the cards available at approximately 12,000 U.S. locations.  

The Green Sheet, Inc. PARTNERSHIPS

 

Avenues adds outlet for OxiCash

Mumbia, India-based e-commerce company Avenues signed an agreement with India-based payment provider Oxigen to offer OxiCash cardholders the ability to purchase and pay for products and services from merchants that use the CCAvenue.com payment gateway.  

New team for microloans

Citigroup Inc., through its Global Transaction Services unit, said the South Africa branch of Citibank N.A. signed an agreement with South Africa-based financial services provider Moneystar that allows Moneystar to disburse microloans via Citi's Visa Prepaid Card program, managed by Citi Prepaid Services.  

Givex integrates with Plastic Jungle

Loyalty and gift card program provider Givex Corp. partnered with online gift card exchange provider Plastic Jungle Inc. to enable Plastic Jungle users to buy and sell gift cards processed by Givex.  

E-wallet initiative underway

Stored-value solutions provider Global Payout Inc. and prepaid card program manager Tyburn Group Inc. will develop an international e-wallet payment solution that will enable multinational companies to pay its members or employees in foreign countries through a web-based portal.  

Big Gulps and prepaid smart phones

Telecommunication company T-Mobile USA Inc. marked an agreement with 7-Eleven Inc. for the availability of a T-Mobile prepaid smart phone by launching the program Aug. 1, 2011, in 7-Eleven convenience stores.  

SVS, Twitpay offer social commerce solution

The deal struck between SVS and social network payment provider Twitpay Inc. is designed to give SVS clients the opportunity to make payments via social networking sites like Twitter.  

Penny auction bidders get new gift card

U.S. Bancorp's lead financial institution U.S. Bank and online penny auction provider SkoreIt!, owned and operated by Vesuvius Technologies LLC, will launch the SkoreIt! U.S. Bank Visa Gift Card for SkoreIt website members.  

Vendtek, UseMyServices join for prepaid vouchers

Prepaid card software company VendTek Systems Inc. inked a deal with e-commerce service provider UseMyServices Inc. to distribute 3V Visa prepaid vouchers and Ukash vouchers at www.usemycard.com. 3V Visa prepaid vouchers are issued by Peoples Trust Co., a community bank in Vermont.  

The Green Sheet, Inc. ACQUISITIONS

 

Advent International to buy Oberthur divisions

Private equity firm Advent International Corp. entered exclusive negotiations with Oberthur Group to purchase the Card Systems and Identity divisions of prepaid card manufacturer Oberthur Technologies. The former division specializes in security based on smart card technology; the latter manufactures such devices as passports, identity cards, driver's licenses and health care cards.  

The Green Sheet, Inc. APPOINTMENTS

 

Jones becomes VP of Marketing at BillMyParents

Teen payment solutions company BillMyParents promoted Evan Jones to Vice President of Marketing. Jones, with more than 15 years of marketing experience, will direct the next phase in BillMyParents' multimillion dollar marketing campaign.  

Coinstar names new CCO

Coinstar Inc. hired Maria D. Stipp as its Chief Customer Officer. With over 20 years of experience in sales and senior management, Stipp will help grow Coinstar's automated retail businesses. end of article

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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