American Express announced a partnership with the developer of League of Legends, Riot Games, to release a line of prepaid debit cards geared specifically towards the game’s many devoted fans. According to a report in The New York Times, the collaboration is a way for American Express to capture the much- coveted attention of the mostly male, 18 to 24-year-old players while providing Riot Games with the kind of financial resources it needs to expand.
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Retailers Celebrate Swipe Fee Ruling – Federal Reserve Caps Swipe Fees
According to a report in Bloomberg, U.S. District Judge Richard Leon in Washington ruled on July 31 that the Federal Reserve considered information it shouldn’t have in arriving at its cap of 21 cents. Additionally, Bloomberg reporter Tom Schoenberg writes that Leon’s ruling determined that the Fed did not sufficiently foster competition among the card networks that levy the fees. “The board’s final rule not only fails to carry out Congress’s intention; it effectively countermands it!” wrote Leon in his ruling.
The Occupy Movement Takes On Prepaid Cards
Recently, BestPrepaidDebitCards.com spoke via email with Carne Ross, a founding board member of The Occupy Moneyhttps://www.bestprepaiddebitcards.com/wp-admin/post-new.php# Cooperative, about the Occupy Card , why it chose to issue a prepaid debit card and how the group aims to change the financial services industry.
A Card Level View Of The Economy Indicates Consumer Confidence On Upswing
The most recent version of the Chase Freedom Lifestyle Index, which measures spending from the second quarter of 2013, indicates that consumer confidence is on the upswing, albeit ever so slightly. Indeed, the index reports that year-over-year spending ticked up one percent from the second quarter of 2012 compared to the same time period this year.
Green Dot Posts Solid Results Despite Increased Competition
For prepaid debit card consumers, the attention of big financial players has been an undeniably good thing: fierce competition among rivals, some of whom are willing to forgo chunks of revenue in the short-term in order to gain market share, have put much needed downward pressure on fees and increased overall transparency. But longstanding
industry players like Green Dot could be forgiven for not being thrilled with the prospect of tough competition that threatens to eat away at their profits.
On The Hook? – The Advantages and Loopholes of Zero Liability.
When you carry a credit, debit or prepaid debit card with a Visa or MasterCard logo, you’re entitled to zero liability protection should a thief make unauthorized purchases with your card