For small businesses, the Intuit PaymentNetwork provides a low-cost payment alternative to credit cards for receiving payments - charging 50 cents per payment received irregardless of the amount (subject to certain limits). There are no monthly charges, equipment or set-up costs.
For individuals sending funds, you can send to anyone who is a member of the Intuit PaymentNetwork. If they're not already a member, they can join to receive their funds. At the present time, individuals can't receive funds.
More details available on the Intuit Small Business United blog.
The Times is urging that regulators adopt new rules - currently under consideration by the Fed - that would require consumer opt-in and would require notification in real-time when a debit card charge is going to result in an overdraft fee being charged.
Earlier this summer, Chase had announced the Ultimate Rewards program where Sapphire was initially mentioned.
From the abstract: "The financial crisis has ignited a call for changes in how consumers are protected in markets for financial products. Recently proposed legislation underscores both public sentiment and the government’s commitment to meaningful reform of the existing consumer protection regulatory regime. As an optimal regulatory environment requires a balance between providing consumer protection and consumer choice, careful consideration must be given to the proposed reforms."
FonWallet Transaction Solutions has announced the end of what company founder and CIO, Todd Coulter, refers to as their "stealth" phase. "Our goal," says Coulter, "was to develop the first cohesive m-based platform capable of delivering any transaction uniformly across all four payment interfaces (m-commerce, e-commerce, h-commerce and point-of-sale). This gives FonWallet users a very simple, convenient, and identical purchasing experience while adding greater account security, single-step checkout, and positive customer identification." With FonWallet, consumers will be able to finally leave their wallet at home and conveniently and confidently make purchases using a cell phone.