American Express announced a new partnership with InsureMyTrip.com to offer packages of “Global Travel Shield,” a collection of comprehensive travel insurance products, to its U.S. cardholders and non-cardholders. Two comprehensive packages of “Global Travel Shield” insurance products will be available at InsureMyTrip.com with prices starting at $32.00 per person. “Global Travel Shield Classic Plan” offers 24-hour travel assistance; emergency medical evacuation/repatriation up to $25,000; emergency medical & dental expense up to $25,000; baggage loss up to $500; baggage delay up to $200; airflight insurance up to $100,000; and trip cancellation/interruption coverage for up to 100% of the trip.Details
West Texas National Bank announced that it has adopted Pay By Touch’s biometric check cashing service. Paycheck Secure powered by Pay By Touch is fast and easy to use. To enroll, customers visit West Texas National Bank, where a bank employee will check their government-issued ID, scan their fingerprint and take a digital photograph. The one-time enrollment takes only minutes, and thereafter the customer need only place his/her finger on a scanner at the branch location to cash checks. Pay By Touch services are free for consumers to use and available in more than 2,400 retail locations across 44 states, the UK and Singapore.Details
Economic confidence among small business owners fell again in June after a very sharp drop in April which was driven by a deteriorating outlook on economic conditions for their businesses, rising insecurity about the U.S. economy and increased cash flow issues. About 34% of small business owners feel that economic conditions for their business are getting better, a significant decrease from 43% in May. Small business owners who said that they would rate the overall U.S. economy overall as “excellent” or “good” fell to 38% this month, down from 45% in May. About 38% of business owners said they will spend less on business development, up from 31% in May. More than half of business owners have not had cash flow issues in the past 90 days, nearly unchanged from 53% the previous month. The Discover “Small Business Watch” indicator dipped to 102.5 in June, compared to 110.0 for May and 110.3 for April. Discover’s latest survey also found that when asked about the biggest challenge facing their business, 28% cite finding new business and 21% cite managing cash flows.
Discover Small Business Watch
Aug 06: 100.0
Sep 06: 107.0
Oct 06: 120.0
Nov 06: 130.0
Dec 06: 109.7
Jan 07: 114.3
Feb 07: 113.4
Mar 07: 117.7
Apr 07: 110.3
May 07: 110.0
Jun 07: 102.5
Source: Discover Business Card
VISA USA and the 48 Hour Film Project have teamed to launch the “Life Takes Invitational,” offering amateur filmmakers a chance to win a VISA prepaid card worth $10,000. Following 48HFP 2007 tour stops in San Francisco, New York and Los Angeles, a total of 30 teams will be invited to participate in the “Invitational” and will be asked to create a short film that demonstrates their interpretation of what “Life Takes.” VISA will provide the selected teams with a $500 gift card for production expenses along with travel expenses to San Francisco for two team members. In September, VISA along with a panel of entertainment and advertising industry experts will judge the entries. The grand prize winner along with second and third place winners, who will receive $5,000 and $2,500 respectively, will be honored during an awards gala in San Francisco.Details
TIO Networks reported that quarterly revenue increased 40% to $3.6 million. For the quarter ending April 30th, the Company also posted gross profit of $1.6 million, up 84% from the year ago quarter. TIO reported more than 1.1 million revenue-generating transactions for the quarter. The number of TIO devices deployed or TIO Express locations signed jumped from 912 for 1Q/06 to 2,406 for the most recent quarter. The Company says that new lines of distribution are accelerating its growth potential. TIO Networks operates in more than 2,000 locations and provides secure access to bill payment and other key financial services. For complete details on TIO Networks’ performance, visit CardData ([www.carddata.com]).
Through its participation in the Network for Electronic Transfers
and its counterpart in Malaysia, the Malaysian Electronic Payment System, the Oversea-Chinese Banking Corporation Limited can now offer its Singapore customers ATM access in Malaysia. The bank’s
participation in the NETS-MEPS agreement allows customers access to over
2,800 ATMs in Malaysia and customers of participating Malaysian banks will have access to 370 ATMs in Singapore. This development is significant considering nearly 9.66 million trips were made from Singapore to Malaysia and 634,000 trips were made from Malaysia to Singapore in 2006. NETS and MEPS offer financial electronic services in Singapore and Malaysia.
Wirecard has joined the International Airline Transport Association
in addition to the 17 other technology companies currently
in the association. Wirecard will contribute payment expertise and
development in the air transport industry with this new development
through IATA committees and initiatives. The IATA has a total
membership of 240 airlines with commercial standards that contribute to
the development of the global airline industry. The Wirecard AG
software platform is used by over 7,000 companies.