An Internet gambler from Massachusetts recently sued NetSpend Corporation in Federal District Court seeking to recover $8,000 he lost gambling plus an extra $16,000 in damages for the emotional distress he allegedly suffered. The claim? That NetSpend “violated the 2007 gambling enforcement act of 2007 [sic] by putting through gambling transactions totaling $15,500 on the plaintiff’s credit card.” Read More
Prepaid Debit Card News
Keep up to date on the latest and greatest in the world of prepaid debit cards with our prepaid debit card news. Check out our Debit News Archives to read our older news.
Disgruntled Gambler Sues NetSpend, Claims UIGEA Violation
15 Must Read Prepaid Debit Card Research Reports
Thanks to the recent IPO of Green Dot Corp. (NYSE: GDOT), the upcoming NetSpend IPO, and the tightening of consumer credit, public awareness of prepaid card products has grown. Investors, researchers, and journalists frequently ask GetDebit.com for information about the prepaid debit card market. There is plenty of excellent information available as background, but some of it can be difficult to find. We’ve pulled together a list of our favorite research reports about the prepaid debit card industry. Read More
Green Dot Earnings Call: A Prepaid Card Tutorial
On August 12, 2010, Green Dot Corporation (NYSE:GDOT) had its first earnings conference call. The conference call, of course, included lots of discussion about Green Dot’s second quarter 2010 earnings and outlook. The call also included some excellent information about the prepaid debit card industry. Analysts, investors and others who are interested in covering or better understanding this relatively new industry should listen to the Green Dot Q2 earnings call. Read More
Hey FDIC: Many Prepaid Debit Cards Already Meet Your Needs
Yesterday, the FDIC issued a press release announcing they are embarking on a pilot program to evaluate the feasibility of insured depository institutions offering safe, low-cost transactional and savings accounts. The FDIC wants banks to participate in the program to offer electronic deposit accounts with certain product features. We applied the FDIC’s wish list to a number of existing prepaid debit card products on the market to see how they stack up. Here’s what we found. Read More
Winners if Gambling Law Passes: Casinos, Taxpayers and Prepaid Debit Card Companies
It’s only been a few weeks since the delay in enforcing provisions of the Unlawful Internet Gambling Enforcement Act of 2006 was lifted, and prepaid debit card issuers (such as NetSpend, and others) shut off the ability for U.S. gamers to fund their gambling accounts at Internet poker rooms. If HR 2267 succeeds, U.S. gamers will be able to ante up again, using funds from debit card accounts (but not credit card accounts). Read More
Visa CEO: Prepaid is a $3 Trillion Market
Visa, Inc. (NYSE:V) announced their third quarter earnings yesterday, once again beating Wall Street estimates. Visa reported an Earning Per Share of $0.97 and revenue of $2.03 billion during its fiscal third quarter which ended June 30, 2010. While Visa does not break out the prepaid debit category in its financial results (although it has previously been suggested that Visa will start reporting separate prepaid debit numbers), they did spend time discussing the prepaid market in their earnings call. Read More
Using Prepaid Cards to Minimize Risk of Shopping Online
Have you ever had to cancel your credit card or debit card because it was lost or stolen, or because you received a message from your bank about a transaction you didn’t make? How much time and effort did it take for you to deal with the issue? Sure, the payment card associations and banks provide their “Zero Liability” promises, but that doesn’t help compensate for the time, effort and frustration involved in canceling and changing your payment card after it is lost or stolen. One possible solution is to use prepaid debit cards for some, or all, of your online shopping. Read More
Green Dot Hits the Mark
The Green Dot Corp. share offering is off to a strong start. The Monrovia, CA provider of prepaid debit cards and prepaid debit card reloading services offered 4,558,050 shares of its Class A common stock to the public today under the symbol NYSE:GDOT. As of midday, the issue is trading well above its offering price of $36.00 per share. Read More
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