The Office of the Comptroller of the Currency has released a new Community Developments Insights report, “Reaching Minority Markets: Community Bank Strategies” (PDF), examining a variety of methods that banks are using to target specific minority markets in the United States.

On the Apple Matters blog, James Stoup writes about the new Microsoft Zune Marketplace - where you can't just buy songs with a credit card. Instead, you first have to buy Microsoft Points - using your credit card. Then, you can use the Points stored in your account to buy music. He says "in effect, Microsoft has created a store that only accepts gift cards as the valid method of payments."

PAYjr, a free online money management system for teens, has announced it is now offering a prepaid MasterCard card, issued by MetaBank, as a companion to their online PAYjr service that helps parents teach their teenagers how to manage their allowance and develop better spending habits.

MasterCard Worldwide and VeriFone have announced what they say is "the first U.S. acceptance of MasterCard PayPass™ “Tap & Go” contactless payments in taxicabs, making life easier for busy consumers in one of the country’s largest, fastest-paced cities. The contactless acceptance is expected to roll out to all taxis licensed by the Philadelphia Parking Authority (PPA)."

Bank of America has announced the launch of affinity banking - what the bank describes as a "game-changing innovation" saying it "marks the first time in financial services that a bank offers a broad complement of financial services to partner organizations whose members share a strong common interest or passion -- such as their college or university, favorite cause, or professional affiliation. The model was created by the former MBNA organization 25 years ago, however the monoline business was largely focused on credit cards. In addition to credit card, affinity banking will include deposit and home equity products."

Visa USA has announced the launch of a new mobile payment coupons and rewards pilot at its California headquarters. According to Visa, "following the successful completion of the industry's first large-scale U.S. mobile payment trial at Philips Arena in Atlanta earlier this year, Visa is now testing the delivery of mobile payment coupons and rewards via text message, graphic and bar code images direct to consumers' mobile devices." Visa says a recent online survey it conducted found that 61 percent of respondents between the ages of 25 and 34 are interested in making purchases using their mobile phones.

Robin Sidel reports for the Wall St. Journal on "cool" credit card designs aimed at earning your loyalty at the top of your wallet - including some new scratch and sniff aroma designs. Sidel quotes one supplier who says "Pretty soon, there will be cards that can do everything but get up and walk away."

Firethorn Holdings has announced a strategic alliance with Cingular Wireless to bring mobile banking and payments services to Cingular Wireless customers. Atlanta-based Firethorn says it is the only mobile banking and payments provider Cingular has authorized on its network. Sarmad Ali reports on the Firethorn/Cingular deal for the Wall St. Journal.

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