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March 13, 2012

PayPal Unveils New Digital Wallet at SXSW 2012

PayPal logo 140pxSam Shrauger, VP of global product and experience at PayPal, presented the new PayPal Digital Wallet at SXSW. The full story of what is included is sketched out on the PayPal Blog. For a behind-the-scenes guided tour of the wallet features there are two videos on the eBay ink blog that are worth watching. Targeted availability for PayPal users is late May 2012.

H&R Block and Wipit Partner on Mobile Financial Services for Unbanked

Wipit logo 140pxH&R Block Bank and mobile payments provider Wipit have announced a partnership to provide mobile financial services to "cash preferred customers".
"The underbanked consumer represents an entirely different market opportunity for merchants. We're excited about our partnership with H&R Block and the tremendous value we can jointly offer cash preferred consumers and the merchants who serve them," said Wipit, Inc. CEO Richard Kang.

Wipit also announced an investment by H&R Block. The Wipit website is at http://www.wipit.me/.

CFSI Proposes a Model Fee Disclosure Box for Prepaid Cards

CFSI Logo SmallThe Center for Financial Services Innovation (CFSI) is proposing a standardized fee box for improving the transparency of general purpose reloadable (GPR) prepaid cards.
“Consumers need to be able to easily determine the true cost of a prepaid card and compare different products before deciding which to purchase,” said David Newville, CFSI’s Policy Manager. “A well-designed fee box can help them make informed choices. By developing a simplified and standardized format, companies will ultimately attract more consumers to prepaid cards.”

Three prepaid card providers – Green Dot, Plastyc, and Ready Credit - have committed to adopt or test CFSI’s proposed disclosure box.

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