The Green Sheet Online Edition
December 12, 2010 • 10:12:01
Prepaid in brief
NEWS
Breakage targeted by N.J.
A battle has begun over unclaimed property in New Jersey, with the unused balances on prepaid cards front and center in the controversy. A state assembly bill signed into law in June 2010 targeted for state coffers the breakage on gift cards and other financial instruments. But a federal judge temporarily blocked implementation of the law on the grounds that it may be unconstitutional.
The law, if implemented, would have reportedly netted the state government $80 million in unused gift card, calling card and money order funds. On Nov. 22, 2010, the New Jersey Assembly passed a bill that "exempts gift cards or gift certificates usable solely for telephone services from the escheatment processes imposed by the budget signed into law," said a post on the New Jersey Assembly Democrats' Facebook page.
iCARD Systems offers incentives for wounded vets
Gift card issuer iCARD Systems recently renewed its partnership with Prevail Health Solutions LLC to offer incentive cards to wounded veterans of the U.S. armed forces as a way to help prevent Post Traumatic Stress Disorder (PTSD).
Through Prevail Health Solutions' Vets Prevail program, iCARD Systems offers vets $25 and $50 Visa Inc.-branded gift cards as incentives to complete online training courses that provide education on the signs of PTSD, which results from post-deployment combat stress.
ANNOUNCEMENTS
BillingTree branches out
On-demand payment processor BillingTree Inc. reported it plans to offer prepaid stored-value accounts under its Pre-fund brand as an alternative to upfront payments and to allow for service extensions to less creditworthy prospective customers at reduced risk of default.
First Data enables e-gifting via Facebook
First Data Corp. reported that Sears Holding Corp.'s Sears and Kmart have become the first national mass merchant retailers to launch Facebook gifting programs using First Data's eGift Social solution, which allows Facebook users to send, receive and redeem the retailers' virtual gift cards.
Plastic Jungle scores $10 million in funding
Online gift card exchange Plastic Jungle Inc. closed on $10 million in Series C financing. The company expects to transact more than $10 million in gift card value in 2010.
Blackhawk's Roche named Stevie finalist
Talbott Roche, the newly appointed President of Safeway Inc.'s prepaid card subsidiary Blackhawk Network, was named a finalist in the Best Executive – Service Businesses – with up to 2,500 Employees category in the seventh annual Stevie Awards for Women in Business.
ServeNation enters payroll sector
Advanced Content Services Inc. reported that its prepaid card subsidiary ServeNation Inc. will enter the prepaid payroll market, with a focus on corporate payroll solutions.
TransCard waives conversion fee
Prepaid card processor TransCard LLC said it waived the implementation fee for program managers and ISOs that switch to TransCard for processing prepaid card payments.
PARTNERSHIPS
ABSA Bank taps Oberthur for South Africa initiative
ABSA Bank chose Oberthur Technologies Inc. as the supplier of MasterCard Worldwide-branded contactless cards for the South African market.
Co-operative Bank, APS to service public sector
Advanced Payment Solutions Ltd. and Co-operative Bank partnered to provide public sector organizations with prepaid card programs, primarily to help public entities cut costs, APS said.
AmEx enters the Australia Post
American Express Co. selected Australia Post as the Australian distribution partner for AmEx's GlobalTravel Card, a new prepaid, reloadable foreign currency card.
Hello Kitty gets new player
Prepaid card distributor InComm teamed with Sanrio Digital, publishers of Hello Kitty Online, to offer game cards for the massively multiplayer online role playing game.
A new pair for unclaimed property reporting
The Keane Organization, a compliance and risk management specialist for unclaimed property reporting, made a pact with Card Compliant LLC for automated solutions that maximize gift and stored-value card revenues for businesses and minimize the risk of noncompliance with unclaimed property laws.
MTN Group, Western Union join for expansion
MTN Group, a mobile telecommunication company in Africa and the Middle East, partnered with Western Union to introduce mobile transfer services in the 21 countries where MTN operates.
Orascom Telecom, Obopay team for Pakistan relief
Orascom Telecom Holding SAE, the parent company of Pakistan telecom Mobilink, inked a deal with mobile money transfer company Obopay to establish a short message service-based text-to-donate relief effort to provide funds to the flood ravaged region.
T-Cash for Haiti
Wireless operator Voilá, the Haiti-based subsidiary of Seattle-based Trilogy International Partners LLC, signed an agreement with Haiti bank Unibank SA to launch a mobile money service in the island nation. The commercial name of the venture is T-Cash.
ACQUISITIONS
Flint Telecom expands with prepaid purchases
International telecommunication technology company Flint Telecom Group Inc. acquired Ingedigit International Inc., an ISO that specializes in prepaid card programs, and its processing affiliate, Gotham Ingedigit Financial Processing Corp., which will be renamed Power2Process Inc.
APPOINTMENTS
Vindicia taps Booth as Regional VP of Sales
Steve Booth joined on-demand biller Vindicia Inc. as a Regional Vice President of Sales.
Raja to helm ServeNation
Jasmine Raja was named Chief Executive Officer at Mike the Pike's Venture's ServeNation Inc., a company that facilitates fundraising using prepaid cards.
Blackhawk makes promotions
Blackhawk Network promoted Talbott Roche to President and Dan Dmochowski to President of International.
Oberthur exec appointed to SCA board
Garfield Smith, Vice President, Marketing, Americas Region, for Oberthur Technologies Inc., was appointed to The Smart Card Alliance executive committee as Secretary.
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