MasterCard Worldwide has announced the launch of the World Debit MasterCard card, calling it "a premium debit card that provides U.S. consumers with unique rewards and savings opportunities, purchase protection, and security benefits. KeyBank today became the first financial institution to introduce World Debit MasterCard to its customers." The new card includes MasterCard PayPass contactless payment functionality. READ MORE »

Jim Bruene blogs about Key Bank's new checking account promotion - "Open a Key Bank free checking account. Make two automated deposits of $100 or more and take home an Apple iPod nano worth $150." He notes that TD Canada Trust is doing something similar.

A paper titled “The Power of Experience in Understanding the Underbanked Market” (PDF) issued today by The Center for Financial Services Innovation (CFSI) and sponsored by Key Bank concludes that "underbanked consumers want traditional financial services relationships."