According to the latest American Express Spending & Saving Tracker, parents expect to spend an average of $529 (46%) of their back-to-school budgets on electronic devices, equipping kids with the latest technology as the new school year begins.
NCR Corporation announced that Cathay United Bank (“CUB”) has become the first bank in Taiwan to provide personalized automated teller machine (“ATM”) transactions by using NCR APTRA Connections software. CUB is the fourth largest ATM deployer in Taiwan with more than 1,900 ATMs. APTRA Connections is now running on about 180 units of NCR SelfServ ATMs and 120 units from another vendor. Most of these ATMs are installed at busy locations. CUB is also planning to extend the new features to its entire ATM network gradually. APTRA Connections enables CUB to recognize their customers and display personalized greeting message. CUB customers can customize their ATM menu by pre-selecting favorite transaction options that include their usual cash withdrawal amount, bill payment and bank transfers, resulting in fewer screens to navigate and save time – as much as 33 percent faster than a typical transaction.
Citi unveiled its “Private Pass” entertainment access program, with access to thousands of events each year including presales, preferred seating and VIP experiences. Citi credit or debit card customers can purchase tickets through www.citiprivatepass.com and some events are complimentary. The “MORE” campaign shows the special access for Citi credit and debit card customers, by highlighting musicians, athletes, chefs and more. Each of the celebrities featured in the campaign has been or will be part of a Citi Private Pass event, including: Alicia Keys, Rickie Fowler, David Ortiz, Cal Ripken Jr., the Fresh Beat Band, Gladys Knight, Santana, Daniel Boulud and Giada De Laurentiis. The Citi Private Pass campaign is brought to life in a breadth of channels, including television, print, digital, events and advertisements at New York City’s Bryant Park, The Grove in Los Angeles and Ogilvy Station in Chicago. Citi customers with a Citi Amex, MasterCard or Visa credit or debit card have access to Citi Private Pass.
Everloop.com, the leading, safe social media site for kids under 13 to connect with friends, create, share and have fun, announced that co-founder, CEO and Digital Parenting Expert Hilary DeCesare will participate on a panel titled “How Much Control Should Parents Have?” at Digital Kids Conference being held April 25-26, 2012 at the Pasadena Convention…
Virtual Piggy safe online youth purchasing entered into an agreement to provide its secure e-commerce service to R&R Games and its line of award-winning quality family games. Virtual Piggy will be offered as a payment option during the checkout process on R&R Games’ website (www.rnrgames.com). If a purchase fits the criteria that a parent sets up on their child’s Virtual Piggy account, the child will be able to input their Virtual Piggy username and password to make a purchase. The child does not have to enter any personal information that would compromise the Children’s Online Privacy Protection Act (COPPA).
Kohl’s Department Stores has entered into a purchase agreement to build a new e-commerce distribution center in DeSoto, Texas. Kohl’s will close on the agreement once the building process is complete. As part of the company’s continued growth, the site was selected for its proximity which will enable the company to better serve Kohls.com’s Central and Midwest customer base. This is in response to Kohl’s having experienced more than a 50% e-commerce sales increase in 2010, and expects sales on Kohls.com to reach $1 billion this fiscal year.
Accordingly, 59% of parents are providing, or have in the past provided, financial support to their adult children when they are no longer in school. Conjunctivly, 65% of adult children between the ages 18-39 who are not in school believe the financial pressures faced by their generation are tougher than those experienced by previous generations. These findings, according to an online poll commissioned by the National Endowment for Financial Education, also show 32% of parents agree their own generation had it easier than their children’s generation while 43% are providing financial support because they are “legitimately concerned” with their child’s financial well-being, while 37% do so because they do not want to see their children struggle. Among those helping their kids, 50% are providing housing; 48% are helping with living expenses; 41% are aiding with transportation costs; 35% are providing insurance coverage; 29% are handing out spending money; and 28% are helping with medical bills.
Among consumers with children in preschool through high school, 39% expect to spend more per child on back to school shopping while 41% expect to spend the same this year. With this, the average family of four will spend $550; 39% plan to spend more on back to school shopping this year than in 2009; 63% will have a set budget and virtually all parents; and 94% will look for ways to be resourceful. These findings, according to the latest American Express Spending & Saving Tracker, also show 34% intend to buy electronics, the most common being laptops(18%) with an average ticket price of $530.
ITEM ON LIST AVG EXPENSE
Clothing 88% $240
Shoes 86% $100
Supplies 85% $90
Teen payment solution provider Socialwise has signed professional
skateboarder Ryan Sheckler to promote its online BillMyParents payment
solution. The star of MTV’s hit reality show “Life of Ryan,” Ryan Sheckler is the
skateboarding child prodigy who exploded onto the professional scene in
2003, turning pro at 13. Sheckler will be part of a major marketing initiative the Company plans
to launch in late spring which will include a multitude of top action
sports athletes and retailers. BillMyParents offers the unique
“Supervised Shopping” program, teens shopping online on partner retail
sites click on the “BillMyParents” payment button that appears next to
items they’re viewing to indicate their selections. The simple and
data-safe automated system immediately notifies parents via email or
text, who can decide whether or not to approve purchases. Parents can
also opt to load teen accounts with pre-set spending amounts in advance.
Rixty has expanded its cash payment system to include kids under the age of 13 for access to a nationwide network of more than 10,000 Coinstar kiosks and 10,000 prepaid card distribution locations to pay for top quality online games and virtual worlds. Following the Childrenâs Online Privacy and Protection Act (COPPA), enforced by the FTC, Rixty protects kids’ personal information and their parents are notified of account creation. This new system has been audited by TRUSTe, an FTC authorized COPPA review agency, and Rixty has been certified as a 2010 TRUSTe Childrenâs Privacy Seal Program member. With Rixtyâs membership in the TRUSTe Childrenâs Privacy Seal Program, kid-focused partners can feel confident that Rixty is now the leader in safe online cash payments for kids and adults.
Employee assistance program provider ComPsych reports that the current
financial climate is making 92% of employees lose sleep.
Employees were asked: Do financial worries keep you up at night? If so,
what is your biggest concern? The responses include:30% said the cost
of living, 29% said credit card debt, 14% said mortgage payment, 13%
said retirement account, 3% said kids’ tuition, 3% said health care
costs and 8% said they are not worried.
Oversea-Chinese Banking Corporation Limited (OCBC Bank) and EZ-Link have
partnered to provide the bank’s “Top & Tap” remote top-up service to
users of the EZ-Link cards. The “Top & Tap” solution allows users to
conveniently add funds to the cards anytime, anywhere through “OCBC
Mobile Banking” and “EZ-Online,” for which a trial period will be
conducted in conjunction with 10 participating schools. For the trial,
students will be allowed to use a dedicated PC with an “EZ-Link” card
reader attached to increase card value with a single tap. The solution
generally does not require the beneficiary to be present with his or her
“EZ-link” card at the point of funds transfer and, on an average day, 4
million EZ-Link transactions are conducted on Singapore’s public
transport system. Singapore-based OCBC Bank has assets of S$180 billion
and a network of more than 460 branches in 15 countries, mostly in