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Coinstar Sells Off E-Payment Business; Trims Outlook |
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Coinstar Inc. (CSTR) trimmed its second-quarter and full-year outlook as the parent of Redbox DVD kiosks sold off its electronic-payment services business to InComm Holdings Inc. and InComm Europe Limited. Shares of Coinstar fell 3.5% to $51.15 in after-hours trading. InComm, which is the nation's largest provider of gift cards and prepaid wireless products and which offers other software and bill payment solutions, agreed to purchase Coinstar's e-payment business for $40 million. With the transaction, InComm acquired a prepaid product portfolio including about 400 individual prepaid-card products. Article |
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New proposal would require identification to buy prepaid cellphones |
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A bipartisan pair of Senate leaders have introduced a first-of-its-kind bill aimed at stopping terrorist suspects such as the would-be Times Square bomber from hiding their identities by using prepaid cellphones to plot their attacks. The legislation sponsored by Sen. Charles E. Schumer (D-N.Y.) and Sen. John Cornyn (R-Tex.) would require buyers to present identification when purchasing a prepaid cellphone and require phone companies to keep the information on file, as they do with users of landline phones and subscription-based cellphones. The proposal would require the carriers to retain the data for 18 months after the phone's deactivation. Article |
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Prepaid calling cards in watchdog's path |
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INTERNATIONAL prepaid phone cards may provide incredible value just a cent or two per minute to speak with family and friends on the other side of the globe from a landline phone. But the Australian Competition and Consumer Commission, which has taken legal action against four providers for misleading advertising, warns there are some "rogue" operators and potential customers should be careful. National consumer group Choice says while industry guidelines that came into force in 2009 were a positive step, full disclosure of fees and charges is still not required at the point of sale and this is far from ideal. Article Here |
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Sprint Nextel expands wireless service for poor in prepaid push |
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Sprint Nextel Corp. has expanded its prepaid wireless service to the poor into two additional states. Assurance Wireless, which provides a free cell phone and 200 free minutes of local and long-distance calling to eligible customers, is launching in Maryland and Texas. The brand already is available in Michigan, New York, North Carolina, Tennessee and Virginia. |
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Blackhawk Network Recognizes Retailers for Excellence in Prepaid Industry |
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PLEASANTON, CA--(Marketwire - May 25, 2010) - Blackhawk Network, leading provider of prepaid and financial payments products for consumers and businesses, announced the results of the fourth annual Hawk Awards. The awards, which are given by Blackhawk Network, honor leaders in the prepaid card industry. Winners were announced at the Annual Hawk Awards Dinner at the JW Marriott Hotel in Phoenix, Arizona. The Hawk Awards are awarded to industry leaders in five key areas: Overall Gift Card Program, Card Design, Marketing and Promotion, Industry Achievement, and Product Innovation. |
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Leap Wireless: Raymond James Upgrades; Bullish On Prepaid Mkt |
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Leap Wireless (LEAP) shares are getting a lift today from Raymond James analyst Ric Prentiss, who this morning raised his rating on the prepaid wireless company to Outperform from Market Perform, setting a $20 price target. “While we expect that competition in the prepaid space will continue to be intense,” he writes, “we believe that it has begun to stabilize, and feel that the macro trends of current wireless subscribers shifting from traditional postpaid to higher value prepaid plans will accelerate.” He says Leap will be a beneficiary of the trend, given an ability to offer lower price plans with maintaining healthy margins “given that its facilities-based busienss was built from the ground up with a low cost structure in mind.” LEAP is up 54 cents, or 3.3%, to $16.84. Article |
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