Appenzell-based GMC Software (GMC) has rolled out its GMC Inspire Mobile Advantage solution. Among its key benefits is real-time dynamic statements and mobile payments. The solution makes it possible to create a responsive, interactive and regulatory compliant mobile experience with little reliance upon IT or external support. For enterprises seeking to improve their competitive position…
Capital One and General Motors have expanded their co-brand card partnership with the launch of the BuyPower Business Card.
The Greater Milwaukee Committee (GMC) local business coalition announced Milwaukee will be the first community in the U.S. to develop an entrepreneurship program using a model developed by Daniel Isenberg, founding executive director of the Babson Entrepreneurship Ecosystem Projects. As part of a bipartisan effort to grow the economy by stimulating high-growth ventures and encouraging job creation, the OPEN for Enterprise model is based on testing and validating entrepreneurship ecosystems abroad, including successful programs in Colombia, Brazil and Denmark to foster policies, institutions and cultures that stimulate long-term economic growth, development and prosperity through programs and workshops. Coalitions for High-Growth Entrepreneurship is designed to help high potential urban communities connect a diverse group of stakeholders, including city planners, private investors, academics, entrepreneurs and public officials, to help maximize the social and economic value of the community’s entrepreneurship ecosystem. Merging their collective expertise, the coalition can help to develop community programs that identify new ways to stimulate, support and “scale up” new and existing ventures.
Chase, Continental Airlines, General Motors and MasterCard have teamed to launch the first-ever “MasterCard World for Business” credit cards. The new “Continental Airlines World MasterCard for Business” card and the “GM Business Card World MasterCard” offer no limits on rewards. The new “Continental Airlines World MasterCard for Business” awards double “OnePass” miles for ticket purchases made directly from Continental Airlines, as well as on dining, gas and office supply store purchases. In addition, cardholders will earn one “OnePass” mile for every dollar spent on all other card purchases. The new “GM Business Card World MasterCard” offers three percent on fuel at the pump, dining, office supply stores, GM dealers’ parts, GM dealers’ services and one percent for all other card purchases.” Earnings can be applied toward the purchase or lease of more than 80 eligible GM vehicles at any time, and can be used with most other GM incentives. Beginning today and continuing through December 31st, any time “GM Business Card World MasterCard” cardholders use their card to make a purchase, they will be automatically entered for a chance to win a new 2008 Escalade.
The lavish assets of the principals involved in a three year credit card scam will be auctioned off this weekend in Tampa. A federal district court ordered the auction sale of four Ferraris including a rare “F40”, two Mercedes Roadsters, a BMW 300i and fine jewelry. In November 2003, the FTC filed charges against Peoples Credit First and its related companies for marketing an unsecured general purpose credit card in exchange for a $45 advance fee payment. However, applicants only received a catalog card good towards overpriced merchandise. The scam produced $10 million in revenue over the three year period.
HSBC and General Motors are launching today a new cobranded card that enables cardholders to use their rewards for the purchase of any new vehicle. The “GM Flexible Earnings Card” offers a full one percent on all credit card purchases, which are tripled if they are applied toward the purchase or lease of a new GM vehicle. The existing GM cobranded MasterCards offer a 5% rebate towards the purchase of a GM vehicle. Current card products include the “GM MasterCard,” the “GM Extended Family MasterCard” for GM employees, suppliers and relatives, and the “GM Business MasterCard” for small business owners. The new “GM Flexible Earnings Card” also enables GM cardholders to use their earnings to purchase vehicle service, accessories and other items from GM dealers. Launched in September 1992, the cobranded GM MasterCard program has delivered the sale or lease of nearly five million vehicles. There are currently six million GM cardholders in the USA.
PA-based Ecount has launched the prepaid “FUEL VISA” card via Bank One. The prepaid card is available in any denomination over $25. It is targeted at firms that want to reward both employee and consumer behavior. Ecount says the average American family will spend an additional $600 on gas this year. Last month Ecount introduced the prepaid Ecount/GM prepaid MasterCard. Ecount is providing stored-value cards and management services to GMC, Chevrolet, and Isuzu commercial truck dealers, including 3,000 sales professionals. American Suzuki Motor Corporation and Ecount also teamed to issue a MasterCard stored value card to pay commission to Suzuki salespeople. Ecount specializes in products and services that enable organizations to easily and electronically move cash to employees and consumers in order to motivate, compensate and reward. (CF Library 5/6/04; 5/20/04)
Ecount is now providing stored-value cards and management services to GMC, Chevrolet, and Isuzu commercial truck dealers, including 3,000 sales professionals. GM’s commercial truck dealers are among the country’s pioneers in the effective use of stored-value debit cards for sales incentives and commissions. Ecount provides products and services that enable organizations to easily and electronically move cash to employees and consumers in order to motivate, compensate and reward.
AZ-based Eufora MasterCard announced this weekend it has awarded its fourth automobile winner in its monthly sweepstakes which awards one lucky cardholder a choice of a $30,000 car. Benjamin Hein was the fourth winner of the Eufora Monthly New Car Sweepstakes. Eufora gave away its first car in August 2003 to a Colorado couple, its second car to a woman from Texas and its third car to a woman from Arizona. Eufora cardholders earn one automatic entry into the sweepstakes for every $100 they spend in a month; the winner is randomly drawn on or around the 15th of each month from all entries received during the previous month. The Eufora MasterCard(R) Card is issued by InfiBank, N.A. and the Eufora pre-paid MasterCard Card is issued by BANKFIRST, two of the nation’s leading payment card issuers.
MasterCard International is kicking off a multi-tiered marketing program for debit MasterCard in support of its dedication to building the category and helping consumers understand the benefits and convenience of using debit MasterCard instead of cash or checks. The centerpieces of the campaign include a new “Priceless” debit television spot, which makes its debut at the Academy Awards, and a SunStakes Sweepstakes, which will launch next month nationwide. The SunStakes Sweepstakes automatically enters consumers for a chance to win exciting prizes simply by using their debit MasterCard for qualified purchases between April 15 and June 30. Summer theme prizes include a 2002 GMC Envoy (grand prize), a high-performance personal watercraft (first prize), and ultra-premium gas grill (second prize). The sweepstakes will be supported via radio spots, which will air in select markets nationwide, statement inserts and messaging, in-branch materials, and direct mail.
American credit card issuers are coming under heavy fire in Ireland this week. Yesterday, The Bank of Ireland attacked the MBNA and Prudential credit cards. BOI says Prudential’s ‘Egg VISA’ and MBNA’s ‘VISA’ are misleading consumers with low teaser rates and high penalty fees. For example, the ‘Egg VISA’ currently offers a six-month 4.7% APR for balance transfers and charges 20 pounds for going over the credit limit or making a late payment. BOI also attacked the co-branded ‘Tesco VISA’ card issued by The Royal Bank of Scotland. The ‘Tesco VISA’ offers a 4.9% intro APR for purchases and balance transfers thru January 2001. RBS also charges 12 pounds for a late payment or going over-limit on the ‘Tesco VISA’. BOI says it does not impose any such fees for late payments or exceeding the credit limit. BOI also says its best credit card rate of 12.9% tops the 15.9% go-to rate charged Tesco and 18.9% go-to rate charged by MBNA.
CARDS OF IRELAND
ISSUER/CARD INTRO GO-TO ANN FEE
Egg VISA 4.7% 10.9% None
Tesco VISA 4.9% 14.9% None
MBNA VISA 5.9% 17.9% None
Goldfish MC 4.9% 18.9% None
Bank of Ireland GMC NA 18.9% 20 pounds
Bank of Ireland VISA NA 19.3% None
Barclaycard VISA NA 19.9% 10 pounds
NatWest MC 13.9% 21.4% 12 pounds
Source: CardPlanet (www.cardplanet.com)
CA-based Killen & Associates predicted yesterday 30% of mortgages and 40% of auto loan originations will move to the Internet by the year 2005. Killen’s report, ‘Loans Over the Internet New Opportunities and Threats’ also suggests that historic market leaders and brand loyalties will be challenged.