A relatively new site called GetDebit provides information about “non-credit” card products.
In the US, debit cards that are linked to a bank account, and prepaid cards that are not, get both categorized as “debit” products and have that word printed on the front of the card. So, GetDebit actually deals with both debit cards and prepaid cards. (In Europe, prepaid cards do not have the word “debit” printed on them, and have other differences like not being necessarily embossed).
GetDebit stands out in its editorial approach: they do write articles about specific products and services without seeking advertising dollars from the companies behind them. This is worth noting in a world where infomercials are almost impossible to distinguish from genuine articles.
Granted, their business model is indeed to advertise products and place the highest bidders at the top of the pages, but they also mention products and do in-depth analysis without asking for ad dollars.
Evidently, we are praising them because they wrote a piece about the API that our company, Plastyc, released last week. And we have never paid them any advertising dollars.
We often get asked by websites and portal operators: “could I offer a prepaid Visa card to my un-banked visitors?”
Until now, we would answer with an offer to link their pages to a prepaid card enrollment site like UPsideCard.
Now the team at Plastyc, headed by Justin Surman, has created aWeb Services API which allows businesses to display and process prepaid Visa card enrollment forms inside their own pages, without sending their visitors somewhere else.
validates the data for obvious formatting or entry errors
passes the user data to a card processing platform to perform the Customer Identification Process (“CPI”) required by law
returns an Identifier for the new cardholder and the ACH routing and account numbers corresponding to the card being newly created
This allows the site hosting the user enrollment form to know immediately if a visitor is eligible for a prepaid re-loadable Visa card, and, if positive, to know which bank transfer number is allocated to the imminent cardholder.
Of course, the actual card will take a few days to reach the cardholder by postal mail. Nevertheless, the card account can be immediately loaded with funds via:
the ACH network, for example for tax refunds and unemployment benefits
Green Dot MoneyPaks which can be purchased in cash at 50,000 locations across the US
even before the card has reached the card holder and been activated.
The Web Service API also offers several methods covering simple prepaid card account management tasks:
Retrieving the complete list of cardholders enrolled via the EnrollCardholder method
Retrieving the details of the cardholder account
Retrieving a list of transactions from a cardholder account, during a set interval of dates
Allowing a cardholder to share money with another cardholder
Letting a cardholder suspend his/her card in case of suspected loss of theft
View the SlideShare above for a more detailed overview.
Two weeks ago, New York City got a chance to celebrate the launch of Like Us Entertainment and enjoy exclusive audio trailers of the new college radio soap opera, The Like Us Show, at Stir Lounge, in mid town Manhattan.
Targeting young adults, Like Us Entertainment has created a radio soap opera dealing with current issues college students face. The Like Us radio show, which started airing February 1, 2010 at college radio stations across the nation, addresses topics such as Abusive relationships, Eating disorders, Finances, Peer pressure, Substance abuse, and, of course money. The episodic radio drama revolves around three college girls, attending the fictional ‘historical black university’ Atlanta University, whose social and personal lives drastically change after an unthinkable tragedy. This is the first coming of age radio drama featuring an all African-American cast.
Like Us Entertainment, a production company specializing in TV, film, and radio, was founded by CEO Shirley Vernae Williams in an effort to fill a void in the African-American and ethnic entertainment industry. She wanted to offer a solution to the lack of minorities in programming and management. Targeting young adults, Like Us Entertainment has teamed up with Kristen V. Carter, former writer of MTV’s “America’s Next Best Dance Crew” and BET’s “The Black Carpet”, to present “Like Us”. Like Us Entertainment is working to accomplish its main mission of addressing the cultural and social issues affecting today’s youth, and maximizing African-American presence in images, roles, and entertainment.
My company, Plastyc, chose to sponsor the launch of the Like Us Show, because money matters are one of the main struggles for African-American students. Even more so now that the Credit CARD Act of 2009 is taking effect, and will restrict access to credit cards to anyone under the age of 21.
Russell Simmons’ Rush Card prepaid Visa card has been pretty much the only offering so far, targeted at African-Americans.
It turns out that the Rush Card is in fact one of the most expensive ways to manage money. It comes loaded with fees, either for each payment transaction or for monthly maintenance, at rates that are astoundingly high.
Check my previous post entitled “Not Quite Robin Hood…” to know more about which services have which fees
Amar’e Stoudemire makes the 2010 All-Star and expands Each One Teach One national campaign
Busy week for Amar’e Stoudemire who was voted center for the West starting lineup for the the All-Star Game to be played Feb. 14 at Cowboys Stadium in Arlington, Texas.
Earlier in the week, Stoudemire was in Memphis, where he partnered with City Councilman Myron Lowery to bring attention to the Amar’e Stoudemire Each One Teach One Foundation National Financial Literacy Program.
“Teenagers have to be financially responsible. We created this education program to give youth tools and an interesting place to learn how to make good decisions. Councilman Lowery’s great leadership helps create solutions and opportunities for students today and in the future”
said Amar’e Stoudemire.
Stoudemire and Councilman Lowery announced their efforts to bring Financial Education to the youth of Memphis from the National Civil Rights Museum on January 17. “I enjoyed learning more about such an important time in history. It was inspiring to be reminded that each person can make a positive impact in the life of a person, community or country. I hope this Financial Literacy Program will help teenagers and their families improve their lives,”
said Stoudemire after his first visit to the museum.
Here is a brief outline of Amar’e Stoudemire Each One Teach One Foundation National Financial Literacy Program:
PART ONE: ONLINE CLASSES
Students and their parents can walk through the Free Financial Literacy Classes that are geared toward education 13-18 year olds on topics ranging from “Car Buying 101,” “Credit and Debit,” “Financial Aid,” “Home Buying,” “Savings and Investing,” “Understanding Insurance” and “Budgeting for College.” Teenagers receive certificates at the end of each on of the classes.
PART TWO: FINANCIAL TOOLS
Frustrated with bank fees and the opportunist nature of credit cards, Mr. Stoudemire sought out a financial partner, Plastyc, Inc., which shared the common goal of helping people learn financial responsibility. Together, they created a unique Visa prepaid debit card that provides a safe place for youth to learn about budgeting and money management with out risk of overdraft or high interest rates. By leveraging Mr. Stoudemire’s celebrity, this team has been able to successfully get the attention of an underserved market of at-risk consumers.
Under the new federal Credit C.A.R.D. (Accountability Responsibility and Disclosure) Act of 2009 taking effect on February 22, 2010, people under the age of 21 will have limited ability to get a credit card in their name, making the importance of a prepaid debit card even greater for teenagers and young adults.
PART THREE: IN SCHOOL INSTRUCTION
For the past year, Mr. Stoudemire has focused on getting both public and private schools to integrate financial education into their curriculum. By creating lesson plans and easy to follow steps, administrators and teachers have been able to get their students inspired to learn these important life skills. In addition, youth who are interested in getting involved on their own can do so free of charge.
For more information about this program or to get involved, please go to AmareStoudemire.com.
Not very many celebrities make good role models, when it comes to handling money. Amar’e Stoudemire, who plays for the NBA’s Phoenix Suns is one notable exception.
Besides his general interest in education through the Each One Teach One foundation, Amar’e is also sponsoring a prepaid card available to both teenagers and young adults. Check The Amare Card website. The card is intended to let fans of Amar’e (and others) develop sound money management skills and spend responsibly.
Often, sponsored products cost more money (then regular products) , because the sponsoring celebrity wants to extract more dollars from his or her fans. Not so with Amar’e: the Amare Card costs even less than the WalMart Moneycard!
This is the time of the year when it is critical for players like him to receive enough votes to be part of the NBA All Stars team for the 2010 game in Dallas, Feb 11-14.
A relatively new site called GetDebit provides information about “non-credit” card products.
