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News Library - July, 2006

Stash Card July, 31, 2006

The first wireless network created for and defined by U.S. youth now has a payment card. The new Virgin Mobile "Stash Prepaid VISA Debit Card" is linked to a Virgin Mobile phone, enabling users to earn free airtime as well as money transfers and wireless text ... more

Card Mail July, 28, 2006

Response rates to direct mail credit card offers slipped to a new low last year as the volume of solicitations climbed to a new high. For 2005, Americans received more than six billion credit offers in the mail as the response rate hit 0.3%. more

Card Debt July, 27, 2006

A new survey has found that typical credit card debt has grown to its highest level on record. In 2004 the typical family with credit card debt owed $2,150, up 62.9% since 1989. The study by the Center for American Progress also found that credit card debt ... more

PayPal Mid-Year July, 26, 2006

PayPal has neared the 114 million account milestone at mid-year, a 44% increase from one-year ago. Total payment volume rose 37% to a record $8.9 billion which includes payments initiated through the PayPal system but excludes its payment gateway business. more

Prepaid Cards July, 25, 2006

A new survey shows that a large number of banked consumers are using prepaid cards as business accounts while the unbanked are using prepaid cards for everyday purchases. The latest "Prepaid Index" from PA-based prepaid specialist Ecount reveals that 40% of ... more

Contactless Payments July, 24, 2006

New research has found that more than 100 million Americans would use contactless cards to pay for small ticket everyday items. The survey by Ipsos Insight and Peppercoin reveals that more than 50% of respondents would use contactless cards to buy gasoline, ... more

PayPass Milestone July, 21, 2006

MasterCard reports that 10 million "PayPass" contactless cards and devices have been issued worldwide and that 32,000 merchant locations are now accepting "PayPass" globally. MasterCard says its data reveal that consumers use their payment cards more ... more

Gas Trap July, 20, 2006

Buying less than 50 cents worth of gas is a reliable sign that a stolen credit or debit card may in play. However, gasoline shortages are showing up nationwide and it may snag honest cardholders who insert their card, start the pump and then shortly discover ... more

Goldpoints Plus July, 19, 2006

You can rack up a roomful of reward points if you quickly land a new co-branded rewards card from a major hotel chain. Carlson Hotels Worldwide and Bank of America have teamed to launch the "goldpoints plus VISA." more

Card Fees July, 18, 2006

Fees for making a late payment have leveled-off over the past two years increasing by 2% per annum and remained flat during June compared to the prior month. Over the past ten years late fees have soared by 137% from $13.21 to $31.37 following a 1996 U.S. ... more