The New Mexico Taxation and Revenue Department has signed a deal with Official Payments Corp for electronic payment services. New Mexico constituents can pay their personal income taxes, motor vehicle payments, weight distance permit payments, and Combined Reporting System (CRS) payments electronically through Official Payments. Official Payments charges a convenience fee for some services. Citizens and businesses using credit or debit cards with bonus rewards programs may, depending on their card’s program, earn reward points, frequent flyer miles or cash back for paying their taxes and fees. New Mexico’s Taxation and Revenue Department processes approximately $7 billion annually in revenue.
A newly released Capital One consumer survey shows that, among the 41%
whom decided not to make a New Year’s resolution, 74% see more
importance in a balanced personal budget over a balanced diet. Among the
Canadians who did decide to make a resolution, 19% make resolutions in
physical fitness while 11% are trying to improve their financial shape,
71% having met holiday ’07 budgets. Additionally, 25% Canadians are
unaware of their credit card interest rates, while 58% are unaware of
low-interest options available to them.
Wachovia has promoted David Pope to president of its Mortgage and Retail Credit division. Pope will be responsible for leading the daily sales, fulfillment, retention, service and operational aspects of the mortgage and retail credit businesses. He has served in a variety of roles over the course of a 20-year career with Wachovia. Prior to his most recent role, Pope was head of Wachovia’s Business Banking group for three years. He has also held roles as co-head of the Retail Bank, region executive for Metro Washington, D.C., and retail executive for Virginia.
West Virgina’s Attorney General announced a settlement with VISA and MasterCard over alleged violations of the State’s antitrust and consumer protection laws. It is the only attorney generals’ office in the country to have reached a successful resolution of its charges against VISA and MasterCard. The settlement calls for approximately $12.1 million to be set aside in a trust account for the purpose of providing tax relief in the form of a sales tax moratorium for West Virginia citizens. The lawsuit was filed in October 2003.
Capital One has introduced a new free “personalized image” feature on its website for customers to upload their own photos onto a card. Capital One customers can go to www.capitalone.com/imagecard and upload their own photo or choose an image from our gallery for their card. Once the image is approved, a new card will be mailed at no cost to the customer; account terms remain intact. Last November, Capital One launched the Capital One Card Lab which provides consumers with a new level of transparency and choice in credit cards. Customers are offered a series of interactive choices related to interest rate, annual fee, and reward options, where they can click to select the combination of features that are most important to them. As choices are made, the tool narrows the options in the remaining categories, eliminating options that don’t work together.
Capital One has released the results of its latest annual identity theft
providing insight on how Canadian consumers habitually protect themselves
from identity theft. Among these habits, the Capital One survey has
that 65% of consumers do not regularly review their own credit reports,
52% believe all credit bureaus share all information and 33% felt that
the police is not necessary in the event of identity theft.
bank is recommending several measures be taken to protect themselves.
Among these recommendations, Capital One suggests not leaving the
signature box on the back of their cards blank, secure account numbers,
secure PIN numbers, keep all receipts, purchase retail goods from only
secure websites and maintaining paper account statements for future
If a consumer does find that they have already become a victim of ID
the bank encourages the consumer to contact all credit bureaus to receive a
fraud alert, file a police report and to cancel any card for which a
may have information. Capital One has provided consumers with Mastercard
products since 1996.
The Internal Revenue Service has extended its electronic tax payment processing contract with VA-based Official Payments through November 2008. To date, the company has processed over $7 billion in federal taxes. Through this service, individual taxpayers can make secure tax payments for a variety of federal tax types including Balance Due, Estimated, Extension, Installment Agreement, Prior Year, Advance Payment of a Determined Deficiency and Trust Fund Recovery Penalty for both Prior Tax Periods and Installment Agreements. In addition, businesses can make credit card payments for business returns on Form 940 (Employer’s Annual Federal Unemployment Tax Return) for the Current Tax Year, for Prior Tax Years and for Installment Agreements, Form 941 (Employer’s Quarterly Federal Tax Return) for the Current Tax Year, for Prior Tax Years and for Installment Agreements and Form 944 (Employer?s Annual Federal Tax Return). Official Payments charges a convenience fee for the service, however taxpayers using credit or debit cards with bonus rewards programs may, depending on their card’s program, earn reward points, airline frequent flyer miles or cash back for paying their taxes. Official Payments Corp., a wholly owned subsidiary of Tier Technologies, is a provider of electronic payment processing services to governments, businesses and consumers throughout the United States.
VISA has enlisted the input of New England’s financial treasurers and controllers to address the issue of financial illiteracy among teenagers distributing free copies of “Financial Football”, an interactive, NFL-themed, money management video game. Massachusetts State Treasurer Tim Cahill, Rhode Island State Treasurer Frank Caprio, New Hampshire State Treasurer Catherine Provencher, Vermont State Treasurer Jeb Spaulding, Connecticut State Assistant Treasurer Meredith Miller, Deputy Assistant Secretary for Financial Education Dan Iannicola and the Jump$tart Coalition are participating in a region-wide rollout of an effort to improve the money management skills of New England high school students.
Fifth Third Processing Solutions has signed new contracts with Bojangles, Shoney’s, Yoshinoya and Logan’s Roadhouse for processing services. Bojangles’ Restaurant operates more than 390 restaurants in 11 states. Shoney’s owns, operates and franchises 274 restaurants in 18 states. Yoshinoya has 85 locations throughout California, New York and Las Vegas and Logan’s Roadhouse currently owns 162 company-operated and 26 franchised Logan’s Roadhouse restaurants in 23 states. Fifth Third Processing Solutions processes over 21 billion ATM and POS transactions per year for more than 2,400 financial institutions and over 154,692 retail locations worldwide.
Capital One Financial Corporation has launched “The Capital One Card Lab”, a convenient online tool designed to help consumers select from a menu of terms and options to build their own credit card. “The Capital One Card Lab” web site provides a series of interactive choices, where consumers can click to select the options they want and need in their credit card, including key account terms and the image printed on their card. Once the consumer has made his or her choices, they complete an online application. If approved, their customized card will be mailed to them.
Capital One and prepaid card specialist NetSpend confirmed yesterday they have pulled the plug on their proposed merger. However, the companies signed a “LOI” to expand their existing strategic relationship. Cap One intends to acquire a minority interest in NetSpend along with an option to purchase additional shares of the company. In addition, the parties expect that a Cap One representative will join the NetSpend Board of Directors. The Companies will also jointly pursue the distribution of prepaid card products through a variety of mainstream retail channels. In August Cap One proposed to acquire NetSpend for $700 million in cash. NetSpend has more than 1.5 million active customers nationwide and a retail network that has 15,000 locations where cards can be purchased and 50,000 locations where funds can be loaded. (CF Library 8/8/07)
Insight Sports has granted Capital One sponsorship for the “Grand Slam
of Curling”, one of Canada’s most popular sports. Capital One sponsorship
will contribute to the Capital One “School of Rock” community program to
be in conjunction with Capital One Grand Slam of Curling events which will
take place November 28 to December 2 and from December 20 to 23.
Insight Sports is a sports media and entertainment company which creates
and distributes sports and entertainment content across multiple
platforms while Capital One Canada is a division of Capital One Bank.