A First Look at GratisCard
Brian Grow writes for Business Week about GratisCard - backed by former AOL Chairman Steve Case and scheduled for an April launch. According to Grow, GratisCard intends to stimulate merchant acceptance by charging only 50 basis points in merchant acceptance fees. Whether they can incent bank issuance at that level remains to be seen.
Robin Sidel reports for the Wall St. Journal on Gratis - quoting Jason Hogg, president and chief executive of GratisCard LLC, as saying that "the current [payment card] infrastructure is inefficient and costly."
For more information, see the GratisCard web site.
The GratisCard is issued by First Bank & Trust, Brookings, South Dakota (www.bankeasy.com).
Posted by: Josh | March 13, 2007 at 06:06 PM