Oscar Wilde once said “There are many things that we would throw away if we were not afraid that others might pick them up”. The same may be true of interchange fees and margins.

This month the Competitive Enterprise Institute (CEI) published a report called “Payment Card Networks under Assault” which makes the case that capping interchange fees will hurt consumers, charities, community banks and credit unions. One of their primary claims is that retailers would not pass on savings from lower interchange fees to consumers. The CEI points to the GAO report which concluded that “consumers may not experience lower prices and retailers could pocket the entire windfall resulting from any reduction in interchange fees”.  Meanwhile, the Consumers for Competitive Choice (C4CC) called for interchange fee reform stating that reform would spur job growth, and as expressed by one President of a 90 store chain who is paying nearly 3.5 million dollars in interchange fees saying: “lower fees would mean lower costs for consumers”.

 Would a retailer pass on savings to consumers if interchange fees where lowered? Here’s another question: Will retailers use discounts to compete with credit card companies for the consumer’s method of payment? And if they do, what methods are available; price roll back for ACH or cash credit pricing? As the ball goes back and forth on this issue, both sides need to be cognizant that Congress is looking for solutions that benefit the consumer. Unless the retailers can demonstrate that they are willing to provide lower retail prices to consumers for less expensive forms of payment, why should Congress believe that consumers will benefit from a cap on interchange fees?  (http://www.linkedin.com/in/peterguidi)

Well, I missed a payment to Capital One last month (November).  The due date was towards the end of the month and I was a couple of weeks late paying it due to a short paycheck.  I don’t even use this card.  I just have a balance due to some emergencies and no cash flow at the time.

Let me say I am rarely late paying my bills, but things do happen in life that make it impossible to pay something on time.. i.e. short paycheck due to illness (don’t have sick leave where I work).

Well Capital One did NOT send me a reminder that I was late, not even an email.  Instead they sent it straight to a collection agency (owned by them).  Needless to say they were paid double (actually more than double) this month and I sent an email voicing my displeasure at how they handled this situation.  I also told them I would be paying the card off and canceling it ASAP.  I also told them I would be recommending to friends, family and co-workers to pay theirs off and cancel it.

I could understand if I were habitually late or habitually missed a month, but I’m not and I don’t.

So here are my suggestions for handling payments to Capital One:

1.  Don’t be late with a payment.

2.   Pay more than the minimum amount due.

3.  Pay it off and cancel the card.

4.  If life throws you a curve, contact them and tell them you intend to pay, but it will be late and state the reason why.

5.  Never get another Capital One card as long as you live.

New Test: Purchasing 2 (Materials Management). This test was kindly provided by our user Prashant_Kolhatkar.

More and more people are choosing to sell structured settlement payment rather than receive their monthly annuities. Why? Because money today is always worth more than money tomorrow, and some people like the certainty that comes with getting a lump sum of cash in hand.

What is a structured settlement? Essentially it is an agreement reached between an injury claimant and a defendant whereby the injured party is paid a certain amount of money every month for a certain period of time. It is known as a pension, and that money is not the tax at the federal or state. It is usually beneficial to both parties, as the victim receives monthly cash payments, such as medical bills, rehabilitation, in home care, etc. and paying the cover is able to handle the event and spread the payments for a period of months or years to soften the blow.

But for many people sell structured settlement notes makes sense. You could be retired, should be undertakenpurchase a large or trip a great opportunity for investment. As such, a lump sum would be much more useful to them as small amounts of money coming in each month. Although the package may be less than the total settlement to invest the money in, even at a moderate rate of return could produce many times the original amount.

Therefore, selling structured settlements are attractive. Also do not sell the ticket, you can sell a portion of it,as a partial payment and keep the rest for themselves. In this way you will receive a lump sum of money for all that they need and for the rest of the income of the remaining rent. There are other ways to sort them and also having a qualified buyer can specify all the options.

What do you get when you sell structured settlement payment?

Well, on a variety of factors including the buyer notes, depends on the assessment of your retirement.Some of these include the outstanding balance, inflation concerns, time span and financial strength of the payor. Remember, it has to make sense financially for the notebuyer as well. He or she is assuming your risk when you sell structured settlement payment to them…the payor can always default, inflation could decrease its worth, market conditions can take a turn for the worse. You never know what can happen.

As such, a lump sum today, even though it is less than the total amount composition structure is a guaranteed payment, which eliminates essentially all of your … the risk that the peace of mind you're not really a prize!

So, if you prefer cash in hand of a bill, you can sell a structured settlement payment today, you will receive a large lump sum of cash. To make sure you can see a qualified, serious buyers you have, you more if you want to sell structured settlementsPensions.

Here are seven ways to help your business be cash flow positive:

1. Pay before you work. Make sure your client pays you for the goods before you hae to pay your supplier. Have a policy for up front payment. As soon as your client places an order, sent an invoice and do not start work on the job until you receive payment. Communication is vital with this, so make sure you tell your client about your policy and explain why it is important for you. That way there are no surprises.
2. Make sure that your bank account details are stated clearly on your invoice so that it is easy for your customer to make electronic payment to you. Be sure the details are fully correct.
3. Pay your suppliers to their payment terms, not before. Be sure you treat everyone professionally and fairly.
4. Take advantage of any cash discounts from your suppliers.
5. Use a credit card to prolong payment, but only if the vendor doesn’t charge fees for credit car payments.
6. Send you customers regular statements showing when payments are due. Be sure to include a summary and reminder to the customer of what is outstanding and of the payment terms.
7. Double check with the accounts payable department of your customer to make sure that they have you and your invoice in their system for payment. Sometimes invoices are on the bottom of a person’s desk, or have not been approved.

I own a mobile phone in an Asian country (hint: not Japan). This phone serves as my texting, calling, music and document management device, in that order.

Every now and then, I glance at an international product/service which requires a credit card/Paypal account/Western Union money order and sigh longingly. Why can’t I handle this just using my mobile, the way they do in Japan?

The mobile ecosystem around is completely fragmented. If a content/solution provider wishes to tap into each country, they have to make individual deals with each telecommunications operator in that country. This brings tons of associated hassle and legalities as well as a very fragmented user experience.

Apple has mitigated the user experience issue somewhat with their App Store, as their popularity and reach makes it possible for them to negotiate a standardized global user experience. However, it’s still infeasible for any significant payment to be made through the iPhone.

On top of that, telcos take a hefty chunk of almost all mobile (micro)payments at present, ranging from 30% to 55%+. This effectively cripples the mobile phone as an open payment platform, since any significant payment will be hobbled with enormous charges.

PayPal transformed online transactions making it extremely simple to transfer money to/fro individual accounts, on a global basis. There are no concerns about credit card numbers being exposed and no issues with cross border transactions.

If a PayPal-like model could be brought to the mobile ecosystem, it would transform the way we use our phones globally. The barriers right now are the closed nature of telcos; which are unlikely to be willing to open up their billing structure. Regulation in each country is also a significant factor.

I postulate a service which bridges telcos and the various credit card/money order/PayPal payment options using the mobile phone as a billing and payment platform. The service would either
a) Charge phone bills directly through telcos if the relevant telcos do not impose prohibitively expensive fees, or
b) Use the mobile as a payment device, implemented through an external account mechanism.

Ultimately, wherever a PayPal/Visa/MasterCard/WU payment is required, it can be initiated by just sending and confirming the transaction via call/SMS. Additional verification and fraud prevention steps would probably be required, but this would bring great value to the mobile ecosystem.

But what do I know, there are probably a ton of reasons which makes this completely infeasible. Thoughts and insights on this topic are solicited and appreciated!

The commercial payment card market has undergone a transformation in recent years as the associations and issuers strive to convince companies of the various benefits. Once a fairly simple market comprising travel and entertainment cards and fuel cards, the commercial payment card universe has become more complex with increased segmentation and functionality. But the lines between products have also blurred resulting in card products that combine several cards into one. Purchasing cards have emerged as the champion of commercial payments with the expectation of eventually replacing a substantial portion of paper-based procurement. The fact that commercial cards capture a mere fraction of total commercial payments highlights the potential of the opportunity at hand.

The financial crisis of 2008 that led to the economic meltdown in 2009 posed both a hurdle and an opportunity for the commercial payment card market. On the one hand, products such as small business cards suffered massive declines in purchase volume and skyrocketing charge-off rates. On the other hand, the consolidation of several major issuers and the weeding out of weaker players, combined with a new drive toward corporate cost control and efficiency, may have set the stage for a quick recovery in 2010.

This Packaged Facts report, which has been renamed from corporate credit cards, presents data and analysis on the global and U.S. market for commercial payment cards. The report presents the size and growth of the market by examining key metrics for the 2005-2009 period and providing forecasts through 2014. Included are discussions and analysis of the various commercial payment card types, trends and factors affecting their growth, and a focused analysis of commercial card end user demographics and preferences. In addition, major card brands and issuers are profiled to provide a competitive landscape.

Methodology

Packaged Facts’ study of commercial payment cards is based on extensive secondary research and interviews with industry and regional experts. Secondary sources include data-gathered from relevant trade, business, and government sources, including card industry journals, trade and general press (print and electronic), annual reports and 10(k) filings, company literature, consultancy publications, Packaged Facts reports, websites and white papers.

Packaged Facts’ analysis of consumer behavior and demographics derives from the spring 2009 Experian Simmons Market Research Bureau’s (New York, NY) adult consumer surveys, which are based on approximately 25,000 respondents age 18 or over.

What You’ll Get in this Report

Commercial Payment Cards makes important predictions and recommendations regarding the future of this market, and pinpoints ways current and prospective players can capitalize on current trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that Commercial Payment Cards offers.

Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.

How You Will Benefit from this Report

If your company is already doing business in the commercial payment card market, or is considering making the leap, you will find this report invaluable, as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for commercial payment cards, as well as projected markets and trends through 2014.

This report will help:

• Marketing Managers identify market opportunities and develop targeted promotion plans for commercial payment cards.
• Research and development professionals stay on top of competitor initiatives and explore demand for commercial payment cards.
• Advertising agencies working with clients in the banking and retail industries understand the product buyer to develop messages and images that compel businesses to use commercial payment cards.
• Business development executives understand the dynamics of the market and identify possible partnerships.
• Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.

For more information, please visit :
http://www.aarkstore.com/reports/Commercial-Payment-Cards-The-U-S-and-Global-Markets-and-Trends-6th-Edition-34624.html
Or email us at press@aarkstore.com or call +919272852585

The payment industry is set to see significant alteration in its value chain with the introduction of online payment. The online payment market which has grown in importance in recent years as a result of boom in the e-commerce market has resulted in the shift of customers from paper based payment mediums to online payment mediums. The consumer preferences are shifting towards transparency and flexibility as they are looking for better, more proactive solutions around life events.

Indian payment industry has witnessed sea change since the introduction of online payment as more and more consumers are shifting from traditional method of making payment i.e. paper based to the new payment methods like online bill payment and card based payment methods. The most preferred payment instrument for online payment in India is credit cards.

Chinese online payment industry has characteristics which are different compared to Indian online payment industry as its most preferred online payment instrument is remittance (debit transfer), collection (credit transfer) and collection with acceptance (debit transfer) market. Also its third party platform is highly competitive with 40 companies operating in it with razor thin margins and most of them are offering homogenous services.

Malaysian online payment industry is more advanced compared to India and China as its market has more advanced instruments like e-money which are not present in India and China at the moment. Also, it has higher internet penetration rate compared to India and China. Its most preferred online payment instrument is credit cards with internet banking being second most preferred medium of online payment.

The shift in the payment method in India, China and Malaysia is the result of increase in e-commerce activities, change in consumer preferences and increase in internet penetration as more and more population becomes tech savvy. Also, there are certain advantages of the online payment method over the traditional methods like low cost, time saving and ease of usage which have contributed towards this payment method shift.

This report analyzes the trends in online payment market in India, China and Malaysia. It analyzes the regulatory structure, competitive landscape and outlook in these countries. The report also discusses the demographic trends, online shopping patterns and online bill payment segment. The scope of study has been kept limited to the B2C and C2B segments of the online payment market therefore excluding segments like B2B.

For more information, please visit :
http://www.aarkstore.com/reports/Trends-in-Online-Payment-Market-in-India-China-Malaysia-34618.html
Or email us at press@aarkstore.com or call +919272852585

I came across this interesting, weird, funny but, serious article at http://www.wisebread.com

Actually it seems so true that most of the tax payers indulge into such weird tactics in order to save whatever chunk of tax they can. Its amazing, to what an extent a mind can imagine various creative ways. Its a pleasure to share the reading here.

Imagine the Tax Fraud Tactics: 20 amazing, outrageous and just plain weird tax deductions

Tax Fraud Tactic

Well, it’s that time again. The tax deadline is just around the corner. If you’re like me, you will have taken care of your taxes months ago and already be enjoying the cash your high-interest savings account is giving you on your return.

If you’re smarter than me, you won’t have any tax return at all. It’s best to come out owing nothing and getting nothing. Evens is best here. But if you still haven’t done your return, take a look at the top 20 funky, strange and outrageous deductions that folks have tried, and sometimes failed, to get away with.

It’s ironic that I was sweating over the deduction of office supplies for my home business, when some folks out there are deducting breast implants and beer. As I’m often told, God Bless America.

1 – Free beer – YES
Strange but true. A gas station owner gave his customers free beer (brand unknown…I doubt it was Stella Artois though) in lieu of trading stamps. And the Tax Courts said yes, this is a legitimate business expense and tax deductible. Which makes the next entry even stranger…

2 – Free whisky – NO
How ironic. A cunning fella thought a case or two of whisky would make nice client gifts, and thus tried to deduct them on his annual tax return. The category he chose was client entertainment. However, not only was it not allowed, it was a gift that violated state laws. Ouch.

3 – Cost of hiring an arsonist – NO
Hard to believe, right? A man with a failing furniture business decided to hire someone to burn it down. The store-owner’s plan was not only to collect the $500,000 insurance money, but also to deduct the $10,000 expenses of hiring the arsonist! He was denied. I’m sure it wasn’t too long before the police were also looking carefully at his return. Not a smart man.

4 – Fake Boobs – YES
This one is infamous. A stripper going by the name of CHESTY LOVE used her hard-earned savings to boost the size of her boobs, to the eye-popping size of 56-FF (do they even make bras in that size?) She figured it would get her more tips. And the write-off was allowed, being considered a stage prop essential to her act. Ha!

5 – Prostitution expenses – NO
Maybe in Amsterdam or at the Bunny Ranch in Nevada, but you can’t deduct expenses of illegal professions. Trying to deduct 4000 condoms or push-up bras are no good if you put down “prostitute” as your career. Similarly, drug dealers can’t deduct the cost of baggies or soil for Marijuana plants.

6 – Cat food – YES
Junkyard owners set out bowls of pet food nightly to attract wild cats. The wild cats also took care of their nasty snake and rat problem, making the junkyard safer for customers and providing a useful business service. Yep, you guessed it…the pet food is a business expense, it was allowed. I need to get the number of their tax attorney.

7 -Your own racehorse – NO
I can see how this would be a business expense to some people. But if you just go out and buy your own prize-winning horse, name it after yourself (the ego on some folks) and then take clients out to see your horse run, you cannot deduct this. It’s not a business expense, it’s a personal expense. But hey, if you can afford a racehorse and stables, why are you worried about the deduction in the first place?

8 – A fabulous African Safari – YES
If the IRS considers a business trip “ordinary and necessary”, you can take it as a deduction. For the owners of a dairy business, this included a wonderful African Safari, because many of the activities on the trip were focused on wild animals. Please note – going to see adult shows in Vegas would not count as viewing exotic wildlife.

9 – The costs of moving…the family pet – YES
Whether you’ve got a Great Dane or a Great White Shark, your pet is considered a personal effect. And that’s great news for you. When it comes to any expenses relating to any kind move associated with a job, the tax man says yes. But I suspect hiring a Hummer Limo to move your gerbil across the state may not be looked upon favorably.

10 – A Trip to Bermuda – YES, YES, YES
I love this one. I have to find a way to do it. ANY business convention held in Bermuda can be written off without even showing there was a special reason to hold your business meeting in paradise. And it’s not the only place. Barbados, Costa Rica, Dominica, the Dominican Republic, Grenada, Guyana, Honduras, Jamaica, Saint Lucia, Trinidad and Tobago, Canada, Mexico and all U.S. possessions also fall into this special tax treatment. But outside the U.S. is a different story. I guess I can’t hold a board meeting in England so I can go see my folks then

11 – Body Oil – YES
If you’re a regular Joe, body oil is a once in a blue-moon splurge. Maybe something to spice up an evening with your partner, but certainly not a write-off. However, if you’re a pro bodybuilder and need gallons of body oil to make your muscles glisten, then it is a genuine tax write-off. Just don’t turn up at a client meeting covered in oil, wearing nothing but a thong and a smile. It won’t be considered “ordinary and necessary.”

12 – A trip to the Super bowl – NO
I’d like to put this one in the ‘nice try’ category. Someone decided to take clients and their spouses to the Super bowl, but just could not prove that the shindig was in any way related to business. And even if it was, it’s an extravagant expense for a meeting and would have been disallowed anyway. Sorry bud.

13 – A Private Airplane – YES
A couple with a rental condo didn’t fancy the hassle of driving up to 7 hours to check on it. They didn’t want to be stuck to the schedule of the only daily flight available. So, they did what you ore I would do. They bought their own jet! They were allowed to deduct all expenses on the jet relating to the condo, including the high costs of fuel. That must have been some

14 – A Mink Coat – NO
And thank goodness, because I hate fur. Claiming that the Mink coat was a conversation piece when visiting clients with his wife (what was the topic…blood on the runway?) a man tried to deduct the garment. Fortunately, he was denied.

15 – Babysitting costs – YES
Believe it or not, you can deduct the cost of a babysitter as a charitable deduction, if the mother of the child is leaving the house to do volunteer work for a charity. Which, of course, we all do on a daily basis.

16 – A ‘Playmate’ Party – YES!
How he got away with this one is beyond me. The owner of a nightclub promotions firm decided that a regular party wasn’t good enough for his clients. So, he brought in a bunch of scantily clad “bunnies” as decoration. The tax man said sure, it’s a valid expense. Whether or not pictures of the bunnies were attached to the return is unknown at this time.

17 – A Nuclear Fallout Shelter – NO
This one bombed (ouch, sorry…bad pun). Yup, way back in the days of the cold war and the threat of nuclear meltdown, one clever chap built a nuclear fallout shelter on his property and then decided to list it as “preventative medicine.” The IRS gave that one a big thumbs down. But who’ll be laughing if Word War 3 does happen?

18 – A beautiful swimming pool – YES
This one’s a great example of lateral thinking. After being told by his doctor that he needed to exercise (after developing emphysema), the smart fella put in a swimming pool. The deduction was put down as a necessary MEDICAL EXPENSE and was allowed, along with the various chemicals, heating, cleaning and general upkeep of the pool. Now that’s using your head.

19 – Dancing lessons – NO
Dancing With The Stars may be popular, but it’s not going down well with the IRS as the subject of a deduction. You CANNOT take dancing as a deduction for medical expenses, and the following reason are outlawed – dancing to relive varicose veins, dancing to cure arthritis and finally, dancing to alleviate nervous disorders. Try any of these and you’ll be dancing all the way to the tax courts.

20 – Sperm donation as a loss – NO
It’s one thing to make a little extra cash as a sperm donor. It’s quite another to try and claim a depletion loss on the aforementioned sperm. Unless you’re an oil well, that kind of depletion is not really going to make much of an impact.

To have a merchant account with Credit Card Processor (CCP) is trouble-free.  A program specifically intended to accept credit cards, which any business can afford, has been designed to make this a reality.  Be it a MasterCard, Discover, Visa, American Express or ATM, you can receive payments to your own bank account directly.

We all know that there is a faster way of buying what you want.  Customers have preferred ordering online, by phone or by mail to avoid the hassle of commuting aside from saving them time.  And how do they pay for every purchase?  With their credit cards.

If your business cannot provide this service, then you definitely will incur major losses.  Having an e-commerce merchant account is necessary for you to process credit cards for telephone, internet or mail order transactions.  Doing your business with these types of transactions limits you to hold on to the credit card and swipe it through a magnetic strip reader.  This is where Credit Card Processor (CCP) can assist you.  Open a credit card processing merchant account with them and within a few days, the whole operation with all of the benefits will be available for your business.

To set up your e-commerce merchant account,

1. Choose how you would want to receive credit card payments (software, virtual terminal or equipment)
2. Then, apply online.

So easy, yet so important to your business!

info@creditcardprocessor.com

Processing credit card transactions has now helped a lot of business to thrive.  One such company is Credit Card Processor (CCP).  Having been in the business of credit card processing for 15 years, it has earned the reputation of providing good standards in processing solutions.

One such benefit of getting a merchant account with them is its Merchant Cash Advance Service.  The company aims to help you get that business push you wanted and is willing to assist you with your cash out difficulties.  You can get as much as $ 2,500 to $500,000 business cash advance.

Availing this benefit is easy.  Check if your business:

• accepts visa and/or MasterCard
• can process a minimum of  $2,500/month in visa or MasterCard transactions
• has been existing for 9 months
• can supply 4 months credit card dispensation statements (12 months if seasonal)

Credit Card Processor (CCP) has been voted as an option to financing a merchant.  It provides you your needs for which banks and other business finance assistance companies cannot extend.  It has helped a lot of businesses to exchange their Visa and MasterCard sales into instant cash.

So, grab this terrific opportunity of letting your business grow and get more chance of hitting your target.  Allow Credit Card Processor (CCP) help you expand your business.

info@creditcardprocessor.com

In business you have to accept the type of payments your customers what to use. You might think credit cards are a hassle. There are so many fees involved. Cash is just so much easier.  Credit Card Processor (CCP) can change that way of thinking. They provide excellent merchant account services for the lowest rates and fees in the industry.

People don’t like to carry cash. Accepting credit cards will boost your sales. It may sound simple but accepting credit cards can realistically increase your sales by approximately 70%.  Think about missing out on 70% of your business because you don’t take the kind of payment that your customers are using the most.

Credit Card Processor (CCP) is the best credit card processor in the market. Why? They offer the lowest fees of any credit card processing company GUARANTEED! If you find a cheaper fee with any other credit card processor, Credit Card Processor (CCP) will give you $500 cash! Talk about being the best. When was the last time your bank offered to give you $500 if they charged you more than another bank? Probably never. Nor has your bank ever made an offer like that for anyone else. Take advantage of this great opportunity. Check out Credit Card Processor (CCP) today!

info@creditcardprocessor.com

Accepting credit cards has a great many benefits to all merchants, and Credit Card Processor (CCP) can help you get the most out of them. Before the days of credit cards, merchants had to evaluate a customer’s ability to pay, do a credit check and verify employment before extending credit or accepting a payment plan. Banks now assume those duties, and the risks involved. And, based on a person’s credit score, may or may not issue a credit card.

Therefore, if your customer does have a credit card, it is your best interest to get a credit card merchant account. Whether or not he can repay the bank is no longer your concern. You are guaranteed payment. Your customer can enjoy a hassle free transaction, and buy more of your goods or services. On-line shopping is nearly impossible without credit cards, but brick and mortar stores also realize more sales by having the ability to do credit card processing.

Credit Card Processor (CCP) offers low monthly and per transaction fees, making it easy and affordable for you accept credit card payments. Don’t miss out on holiday shoppers! Start accepting credit cards today.

info@creditcardprocessor.com

Credit Card Processor (CCP) provides credit card processing equipment and merchant account services to on-line and off line businesses. Accepting credit cards is essential in today’s market and having reliable merchant account services and secure transactions makes every thing run smooth.

Credit cards are becoming more and more popular everyday. Everyone carries at least one since it is an easier way to pay and safer than carrying cash. On-line purchases are almost exclusively paid for with credit cards. Businesses don’t want to accept checks and take the chance that the check will not clear. This will make it almost impossible to collect your money. With a credit card merchant account, you are guaranteed to be paid, even if the customer defaults on his credit card, you still get your money.

So in today’s business if you don’t accept credit cards you are potentially missing out on 75% of your sales. Sign up at Credit Card Processor (CCP) for secure transactions and the lowest fees.

info@creditcardprocessor.com

So what on earth is prizeKing all about I hear you ask?…

prizeKing was built on a simple premise : Customers paying for virtual good deserve better value. Loyal customers deserve to be rewarded and applauded.

So much of the Virtual goods industry that has evolved over the last few years has been built on a delicately balanced value proposition. Merchants have a strong desire to monetize effectively but carefully. End users too, wish to get the most enriched experience, the most fun, excitement and delight out of their virtual purchases as possible. But this isn’t always easy.

This delicate balancing act often resulted in additional sweeteners being added into the mix in the forms of ‘Cost per Acquisition’ advertising deals to enhance the value for the merchant and give their users additional avenues to accumulate value. But at what cost? Many users were burned subscribing to questionable offers. Advertisers too were experiencing decreasing conversion rates due to deliberately deceptive users scamming the system.

The whole practice has came under the spotlight recently, with the influential blogger Michael Arrington from TechCrunch ambushing Offerpal Media CEO Anu Shukla at a recent Virtual Goods conference on the practice.

We believe Michael Arrington was right to raise this as an issue. Each user that is burned in this way can only damage the entire virtual goods and mobile payments industry as a whole. End user trust and loyalty is paramount for the healthy development of the industry.

We at prizeKing believe there is a better way. We bring an easy to use, safe and robust transaction platform and combine it with innovative loyalty marketing initiatives to build a better value proposition for both sides.

1. Users get a better deal through added layers of value added on top of their existing purchase available in the forms of prizes and auctions. Our most regular customers are rewarded and applauded accordingly.
2. Merchants can expect more paying customers with PrizeKing mobile payments and greater spend per user with innovative loyalty incentives.

It’s a win win – and means that with prizeKing merchants can employ a powerful combination of mobile billing and loyalty incentives to give their users great value.

We’ve assembled a global team with decades of collective experience in the mobile payments industry who believe in the vision for a better value proposition for the virtual goods industry.

Formed in 2009, we’ve got some exciting project news which we will be announcing shortly, so stay tuned.

From: David Thorne
Date: Wednesday 8 Oct 2008 12.37pm
To: Jane Gilles
Subject: Re: Overdue account

Dear Jane,
I do not have any money so am sending you this drawing I did of a spider instead. I value the drawing at $233.95 so trust that this settles the matter.

Regards, David.

Read the full conversation at : http://news.ninemsn.com.au/article.aspx?id=665847

We’re a culture of do-it-yourselfers – that’s part of what makes America great!  We get stuff done the way we want it – when we want it.  That’s the way we are.  When it comes to your home loan modification though, I’d like to suggest you take a different strategy – leave it to the professionals!

I have one of those really cool four door Jeeps.  I love my Jeep.  I drive it every day.   But, when it breaks I don’t do the repairs, I take it to the dealership and let them repair it correctly.  I’m not a mechanic, I went to school for business management and finance – not to fix engines, fuel injectors, air conditioning systems, transmissions etc.. I leave it to the professionals – people that are trained on how to fix those particular parts.  This way I know the job is done right and I can sleep well at night knowing the Jeep’s not going to blow up tomorrow because I didn’t connect something right.

Your home mortgage works in very much the same way.  Unless you are well versed in mortgage banking, finance, negotiation strategies, and the law surrounding home loan lending – you’re definitely going to come out thousands of dollars ahead by engaging the services of a professional loan modification company.

It is true that you will have to pay the company for their services BUT I promise you, if you have chosen a quality loan modification firm, it will be worth every penny.  Even a 1% difference in interest rate of the life of your loan will wildly trump the investment you make in hiring an expert that deals with mortgage modifications day in and day out.

Let’s say you worked with your lender on your own and got them to agree to an interest rate of 5.5% on a loan balance of $200,000 for 30 years – your monthly payment is $1,135.58.  On the other hand, if you’d used an expert loan modification company they would have known that most loans similar to yours are being set at 4.5% interest (non 5.5%) and they fight for that and get it… you’re new monthly payment would be $1,013.37.

The difference between the two monthly payments over a 30 year time frame would be a total of $43,995.38!  And this is just with a 1% difference in interest rate.  What about waiving fees, forbearance of principle, even forgiving principle balances… there’s all kinds of financial benefits you get when you use a professional modification service.

I can promise you this…. The banks are playing for their own self interest.  I’ve seen some really ugly homeowner negotiated mortgage.   They’ve ended up with a temporary band aid and I’m willing to bet they will be right back in the same situation in a few years.

From one perspective you could say that, yes, the author is biased because I am consultant for an expert loan modification company, but on the other hand that gives me a unique perspective of  talking to hundreds of homeowners about what their banks have told them… and what their banks have offered them – and it’s not pretty out there!  Most of our clients are homeowners that tried to modify their home loan on their own.

Please heed my advice… from someone on the inside… use a professional firm with expertise in this area.  It will be worth every penny you have to beg, borrow, and scrape up to make it happen!

Updated Dec 2, 2009 (Previous Post Here)

http://squareup.com/

Twitter founder Jack Dorsey. Card swipe on iPhone.

• Venture Beat (Today 2 Dec 09)
• http://www.finextra.com/fullstory.asp?id=20618
• http://www.engadget.com/2009/10/17/twitter-founder-jack-dorseys-squirrel-project-revealed-as-th/

More info today (Dec 2, 2009) from Venture Beat. The updates are based upon business model of card-card vs. Card to existing POS (or receiver registering as a “merchant”). Will I see my local ticket scalpers and hot dog vendors taking credit cards on their iPhone? Data we know:

• Plug in Card reader into Audio input Jack
• Pilot with a couple small merchants
• Not open for business yet (as of 12/2/09)
• Mind behind it is Dorsey
• Khosla is Seed Investor.
• Very US centric.. no EMV (Chip and Pin)
• “Picture” for risk management
• Unclear whether model is Card-Card or SquareUp is acting as a merchant aggregator (see IPSG in Here)

Updated Analysis:

• US Centric Consumer play (no EMV)
• Credit Card transactions with 350bps… not the greatest for a “cash replacement” value proposition (PIN Debit is 150)
• Issuing Banks have control over card-card transactions. Pilot likely used SquareUp as merchant.
• If SquareUp is acting as a Merchant Aggregator, then they will own all fraud losses (CNP Transaction). Assuming that the  “merchant”  swipes the card, it is assumed that the “merchant” did not sign the merchant agreement (ie. visa/Mastercard), SquareUp would be the Merchant in this case and the card was not present at SquareUp’s POS for inspection.
• Consumer population is limited (how many of your phones have an “audio input jacks”?
• Model competes heavily with both bank initiatives (in mobile) and those within Visa/MasterCard. (MasterCard MoneySend, Visa Money Transfer)
• Merchant incentives are weak vs. Cash or PIN Debit.
• Issuers will not jump on board with this one. 1) competes with other projects 2) fraud controls are not proven, 3) Consumer demand, 4) Issuers want to own the consumer experience,
• MNOs will likely also resist, as they have no incentives to support.
• Revenue model in card-card is challenged as SquareUp would not participate in interchange. More effective model would be for SquareUp to act as Merchant. Capital requirements would be driven by marketing costs, as card business is well understood.

My guess is that squirrel has the technology working.. but haven’t figured out the “banking side” and how to expand beyond the cards that they can directly control. This team should have partnered with either a bank or an MNO as it will require some significant marketing dollars to move customer adoption.. even for a pioneer in social networking like Jack.  Differentiate this approach, with the “partnership” approach taken by teams like BlingNation (see post here)

In addition to BlingNation’s partnership model, integration of NFC into existing handsets will presents a much larger “global” opportunity. See

• www.tyfone.com
• www.bladox.com

Innovation in payments is tough… if I were going to add something the Steve Job’s product plan for the iPhone what would it be?
• Global
• Ubiquitous
• Unique to every person
• Globally Accepted for use in Payment and Authentication, by merchants, banks, networks, regulators
• Low error rate
• Impossible to clone
• Difficult to crack
The answer is… ( ). OK so nothing fits my criteria, but any appendage on my iPhone must certainly seek to optimize the goals above. Only item I’ve seen that comes close it IRIS scanning.. now being miniaturized to fit on a chip the size of your thumbnail (below). Just for fun.. I bought “paybyiris.com” domain as I finished this article (today).

http://www.nydailynews.com/archives/news/2002/01/07/2002-01-07_credit_card_cloners___1b_sca.html

http://4g-wirelessevolution.tmcnet.com/news/2009/08/19/4331395.htm

CLARINGTON/ December 2, 2009 – Effective today, the Operations Department now accepting debit payments at the Hampton office.

Customers will be able use debit to pay for:

• blue box, green bin or garbage tags
• Rental fees for sports fields
• Sign By-law fines
• Senior and Disabled Snow Clearing Program

For additional details contact the Operations Department at 905-263-2291.

Remove December 11, 2009

> RESERVAR AHORA

Salidas especiales:

Diciembre 7-10
3 Noches/4Dias
Desde USD: $ 1,230

Diciembre 3-7
4 Noches/5Dias
Desde USD: $1,660

Diciembre 3-10 / 7-14
7 Noches/8Dias
Desde USD: $2,890

( incluye ticket aéreo desde/hacia las islas ahorre hasta USD 400.00 )