The world’s largest c-store chain has rolled-out a suite of gift cards. 7-Eleven, Elan Financial Services and InComm have introduced the “Vanilla VISA Gift Card.” The card is available in $25 and $50 denominations. 7-Eleven’s gift selection includes its own 7-Eleven gift cards, redeemable for gas or merchandise at participating 7-Eleven locations, as well as gift cards for many other popular brands including movie theaters and rental outlets, restaurants, sporting goods, bookstores, shoes, clothing, games and more. 7-Eleven also offers the 7-Eleven SpeakOut prepaid wireless handsets and ReVos cards, which provide unlimited prepaid calling time to 42 countries, as well as prepaid airtime cards from the nation’s leading wireless providers. 7-Eleven operates, franchises or licenses more than 7,200 7-Eleven stores in North America.Details
The Single European Payment Area (SEPA) has recorded a surplus of
EUR 5.9 billion and net direct and portfolio investment inflows of EUR
25 billion, mainly driven by equity security purchases, for June of 2007.
For current account, a surplus of EUR 5.9 billion was recorded reflecting
EUR 7.0 billion surpluses in goods and a EUR 3.9 billion services. For
the financial account, direct and portfolio investment totaled a net of
EUR 25 billion with net inflows of EUR 70 billion for portfolio investment
and net outflows of EUR 45 billion in direct investments.
Starz Entertainment has selected Springbok Services to implement a customized, MasterCard prepaid card program .Starz will implement Springbok’s solutions for both single value and re-loadable sales incentive programs, along with single value consumer focused gift with purchase program. Starz Entertainment provides premium movie services throughout the United States, offering 16 movie channels including the flagship Starz and Encore brands, with approximately 16.1 million and 28.4 million subscribers respectively. Starz Entertainment airs more than 1,000 movies per month across its pay TV channels and offers advanced services including Starz HD, Starz On Demand and Vongo. Springbok Services is PCI certified for card processing.Details
Citibank has introduced the “Citibank World Privileges on Mobile” which
informs customers of relevant discount offers from 40,000 merchants in over
40 countries. The service informs consumers of discounts available in
shopping, dining, travel, and hotels and is only compatible with mobile
that have GPRS, EDGE or 3G, are “Java software Mobile Information Device
Profile” (MIDP) compliant. The requisite phone must also have a minimum of
700kb of available phone memory. Citibank has a 20% market share in the
region and over a million credit cardholders with nearly a 90% brand
in Malaysia. The new service is available through over 1,000 merchants in
Malaysia and is expected to attract 100,000 users over the next two
currently has more than 145 million cards in 40 countries.
MD-based New Windfields has, for the first time, released some of its portfolio of prime bank and credit card related domain names for acquisition. Among the domain names offered are: bankcenter.com; bankingcenter.com; cardgame.com; cardbuzz.com; bestcreditcard.com; cardplanet.com; cardrate.com; chargecard.com; goldcards.com; pay2001.com thru pay2025.com; and payments2000.com thru payments2025. The cardbuzz.com domain also has a “Class 16 & 41” registered trademark. The firm, which also pioneered the development of the highly successful cardweb.com and cardtrak.com Web sites, holds several hundred domains and registered trademarks in prime financial Internet real estate. New Windfields is represented by Blank & Rome. For more information visit .Details
The Bank of Ireland has introduced its “2-in-1” credit card providing
customers with a payment plan for larger purchases. In addition to
charging 0% APR to new customers for the first 6 months, the “2-in-1”
card allows users to transfer the balance of larger purchases to a
payment plan for 12 months at a 6.9% APR. The discounted plan allows
two purchase transfers at any one time, within two months of it appearing
on their statement, for a total of at least 500 euro. The amount that
can be transferred to the plan is limited to 80% of their total credit
and there are no additional fees or penalties for early re-payment.
The ACCEL/Exchange Network and its Education Exchange college grant program recently awarded $50,000 in college grants to 34 members of the high school graduating class of 2007. This year’s $5,000 grant recipients were Galen Danskin of Quaker Hill, Connecticut; Tony Poor of Panama City, Florida; and Lindsey Stavola of Melbourne, Florida. The $2,500 grant recipient was Jacob Hofer of Hagerstown, Indiana. From an initial pool of thousands of applicants, three $5,000 grants, one $2,500 grant, and 30 $1,000 grants were awarded based upon scholastic achievement, volunteerism and extracurricular activities, character and leadership, essay responses and financial need. ACCEL/Exchange is a comprehensive ATM and POS network that maintains industry-leading authorization rates and 24 x 7 network switch availability. The value inherent in ACCEL/Exchange has made it one of the fastest growing EFT networks in operation. ACCEL/Exchange transactions are currently enabled at 180,000 ATMs and most merchant locations nationwide.Details
In response to the growing trend of outsourced call centers, Nationwide
has recently opened 3 centers and refurbished 2 others. It is estimated
that nearly 17,000 financial call centers have been outsourced. Additional
research conducted by the building society shows that 93% of UK
consumers prefer domestic customer service, 79% are less likely to
deal with companies that outsource service centers, 52% would
change providers upon realizing that they outsource, and 74% prefer
domestic call centers because they provide faster, better service quality
and benefits to the UK economy.
Kansas City-based H&R Block has renewed an agreement to operate offices in Wal-Mart Stores Inc. locations. The tax preparer said Wednesday in a regulatory filing that its H&R Block Services Inc. would operate the sites through May 30, 2009. The renewal covers 699 company-owned locations in Wal-Mart stores and 493 locations operated by franchisees. H&R Block began offering tax preparation services at 553 Wal-Mart stores in 2004. The largest consumer tax services company in the U.S., H&R Block in 2006 served 19.4 million clients at more than 12,165 retail offices in the U.S. and with digital tax solutions. H&R Block is the only tax company that offers clients, under a single brand, in-person services, TaxCut software and online solutions.Details
Voluntary and involuntary credit card attrition has edged up this year to a two-year high. Voluntary attrition, the number of accounts canceled by a cardholder, hit 9.04% in July, compared to 8.90% in the prior month and 8.64% one-year ago. Involuntary attrition, the number of accounts canceled by an issuer, posted a 6.61% ratio in July, compared to 6.41% in the prior month and 5.30% one-year ago. CardData ([www.carddata.com]) says issuers offering low-ball balance transfer rates have motivated credit worthy consumers to move balances and close accounts rather than do a cash-out refi on their home.
Source: CardData (www.carddata.com)
Younger customers are continuing to choose the anonymity of their laptops over the human contact of a bank teller. A new survey by the ABA found that the banking method consumers used most often were branches 36%; online 23%; ATM 21%; telephone 5% and mail 8%. Banking at a local branch was the clear favorite of nearly half of those over the age of 55, but only 25% of those under 34 said they use branches most often. In fact, younger customers ranked branches behind online banking (30%). Older customers said the opposite with 47% saying branches are their preferred method of payment with ATMs (17%) and online (13%) trailing far behind.Details
TSYS Europe reports it has issued more than 1.7 million instant-issuance, non-personalized cards for The Gift Voucher Shop. GVS launched its “One4all Gift Card” in five major Irish Post Offices in Dublin and on its Web site. The product is VISA supported, although the card does not carry the logo, and is restricted to acceptance within a GVS-defined network of more than 200 UK retailers. The new gift cards will be offered in a growing number of Post Offices throughout Ireland and the UK later this year. TSYS now processes multiple prepaid portfolios for major banks across Europe, including Bank of Ireland, Royal Bank of Scotland, Norwich Union, Santander and LloydsTSB.Details