Mobile Payment, Mobile News, Mobile Remittance, Mobile Solutions, Mobile Technology, Mobile Coupons » payment news http://www.ovsea.com Mobile Payment, Mobile News, Mobile Remittance, Mobile Solutions, Mobile Technology, Mobile Coupons Wed, 14 Jul 2010 08:24:10 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Gartner Outlines 10 Mobile Technologies to Watch in 2010 and 2011 http://www.ovsea.com/payment-news/gartner-outlines-10-mobile-technologies-to-watch-in-2010-and-2011/ http://www.ovsea.com/payment-news/gartner-outlines-10-mobile-technologies-to-watch-in-2010-and-2011/#comments Tue, 30 Mar 2010 08:35:45 +0000 mobile news http://www.ovsea.com/?p=144 Gartner, Inc. has identified 10 technologies that will evolve significantly through 2011 in ways that will impact short-term strategies and policies. Investments in applications and technologies will increase through 2011 as organizations emerge from the recession and ramp up both business-to-employee (B2E) and business-to-consumer (B2C) spending.

“We are highlighting these 10 technologies that should be on every organization’s radar screen,” said Nick Jones, vice president and distinguished analyst at Gartner. “These technologies were selected because they will evolve in ways that affect corporate strategies, significant numbers of customers or employees will adopt or expect them, or they will address particular challenges that organizations will face through 2011.”

The 10 technologies to watch in 2010 and 2011 include:

Bluetooth (3 and 4)
Two new Bluetooth versions will emerge by 2011: Bluetooth 3 will introduce 802.11 as a bearer for faster data transmission, and Bluetooth 4 will introduce a new low-energy (LE) mode that will enable communication with external peripherals and sensors. Both versions will include other technical improvements to improve battery life and security. Gartner believes that Bluetooth 3 will facilitate corporate and consumer functions demanding large bandwidth (e.g., downloading images and videos from handsets). Bluetooth LE will enable a range of new sensor-based business models in industries such as fitness, healthcare and environmental control and will be used by handset and PC peripherals to enable new functions, such as PCs that autolock when users move away from them.

The Web
By 2011, over 85 percent of handsets shipped globally will include some form of browser. In mature markets, such as Western Europe and Japan, approximately 60 percent of handsets shipped will be smartphones with sophisticated browsing capability and the ability to render conventional HTML sites in some manner. The growth in smartphones with relatively large and high-resolution screens will encourage greater numbers of people to access conventional websites on devices, and will make it possible to deliver some B2C applications using conventional Web tools without adaptation. In mature markets, the Web, along with associated Web adaptation tools, will be a leading technology for B2C applications through 2012, and should be part of every organization’s B2C technology portfolio.

Widgets
Widgets are installable Web applications that use technologies such as JavaScript and HTML. Many handsets support widgets running on their home screens, where they are easily visible and accessible. Despite the lack of standards, widgets provide a convenient way to deliver simple, connected applications, especially those involving real-time data updates (such as weather forecasts, e-mail notifications, marketing, blogs and information feeds). Because widgets exploit well-understood tools and technologies, they have lower entry barriers than complex native applications, and thus can be a good first step to assess the demand for an application on a specific platform before undertaking expensive native development.

Platform-Independent AD Tools
platforms will become more diverse through 2012 although consolidation will not have started, and, in some markets, five or more platforms may have a significant presence. Therefore, tools that can reduce the burden of delivering installable applications to several platforms will be very attractive. Platform-independent application development (AD) tools cannot deliver a “write once, run anywhere” equivalent to native code; however, they can significantly reduce the cost of delivering and supporting multiplatform applications that provide a more sophisticated experience than the Web and operate outside signal coverage.

App Stores
App stores will be the primary (and, in some cases, the only) way to distribute applications to smartphones and other devices. App stores also provide a range of business support functions, such as processing, that assist smaller organizations. Gartner believes that app stores will play many roles in an organization’s B2C and B2E strategies. They will be a distribution channel for applications and a commercial channel to sell applications and content (especially in international markets), and they will provide new options for application sourcing. Many applications will exploit ecosystem cloud services.

Enhanced Location Awareness
By the end of 2011, over 75 percent of devices shipped in mature markets will include a GPS. GPS will be the primary, but not the only, means of establishing handset location. Wi-Fi and cell ID systems will remain important in situations where GPS is unavailable or unreliable. The popularity of location-aware handsets will enable a wide range of B2E and B2C location-aware applications, and will serve as a foundation for more-sophisticated contextual applications in the future. However, organizations must be sensitive to local privacy regulations, ensure that applications that expose location are “opt in,” and remain on alert for new risks and concerns that will be raised by location awareness.

Cellular Broadband
During 2010 and 2011, the availability of multimegabit wireless broadband performance will continue to grow as networks enhance their broadband performance. Continuous improvements in wireless broadband performance will increase the range of applications that no longer require fixed networking, and make cellular broadband a more effective fallback when fixed connections fail. Embedded cellular networking will become a standard feature of many corporate laptops, and will enable new types of network-connected devices and business models, such as e-books and media players.

Touchscreens
Touchscreens are emerging as the dominant user interface for large-screen handsets, and will be included in over 60 percent of devices shipped in Western Europe and North America in 2011. Touch-enabled devices will also make increasing use of techniques such as haptics to enhance user experience. Organizations developing native handset applications may need to exploit single and multitouch interfaces and haptics to give their applications a compelling and competitive user experience.

M2M
Many network service providers increased their commitment to machine to machine (M2M) in 2009, so a good range of both national and multinational M2M service options will be available in mature markets during 2010 and 2011. Although the M2M market is very fragmented, it’s growing at over 30 percent per year. Low-cost M2M modules will enable a wide range of new networked devices and business models. Key applications include smart grid, meter reading, security/surveillance, automotive systems, vending and point of sale, remote monitoring, and track and trace.

Device-Independent Security
This isn’t strictly a single technology, but refers to a collection of security technologies, application technologies and sourcing options that enable the provisioning of applications that are secure, but less tightly tied to specific devices and platforms, and that, in many cases, do not require security tools to be installed on the client. It includes thin-client architectures, applications as a service, platform-independent forms of network access control (NAC), portable personality, virtualization, and hosted security services, such as “in the cloud” virus scanning. Device-independent tools cannot provide the rigor of fully installed security, but a blend of several of these tools can enable CIOs to deliver applications that can run on a wider range of devices while reducing security risks.

Additional information is available in the report “Ten Technologies to Watch in 2010 and 2011″ which is available on the Gartner Web site at http://www.gartner.com/resId=1311324.

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]]> http://www.ovsea.com/payment-news/gartner-outlines-10-mobile-technologies-to-watch-in-2010-and-2011/feed/ 0 Gartner Reveals Five Social Software Predictions for 2010 and Beyond http://www.ovsea.com/payment-news/gartner-reveals-five-social-software-predictions-for-2010-and-beyond/ http://www.ovsea.com/payment-news/gartner-reveals-five-social-software-predictions-for-2010-and-beyond/#comments Tue, 30 Mar 2010 08:34:12 +0000 mobile news http://www.ovsea.com/?p=142 Gartner, Inc. has revealed its key predictions on the use of social software and collaboration in the enterprise. These predictions focus on offerings ranging from team collaboration to dynamic social networking applications that offer rich profiles and activity streams.

“A lot has happened in a year within the social software and collaboration space. The growing use of platforms such as Twitter and Facebook by business users has resulted in serious enterprise dialogue about procuring social software platforms for the business,” said Mark R. Gilbert, research vice president at Gartner and co-chair of the Portals, Content and Collaboration (PCC) Summit. “Success in social software and collaboration will be characterized by a concerted and collaborative effort between IT and the business.”

Gartner offers five key predictions for social software:

By 2014, social networking services will replace e-mail as the primary vehicle for interpersonal communications for 20 percent of business users.

Greater availability of social networking services both inside and outside the firewall, coupled with changing demographics and work styles will lead 20 percent of users to make a social network the hub of their business communications. During the next several years, most companies will be building out internal social networks and/or allowing business use of personal social network accounts. Social networking will prove to be more effective than e-mail for certain business activities such as status updates and expertise location.

“The rigid distinction between e-mail and social networks will erode. E-mail will take on many social attributes, such as contact brokering while social networks will develop richer e-mail capabilities,” said Matt Cain, research vice president at Gartner. “While e-mail is already almost fully penetrated in the corporate space, we expect to see steep growth rates for sales of premises- and cloud-based social networking services. “

Gartner recommends that organizations develop a long-term strategy for provisioning and consuming a rich set of collaboration and social software services, and develop policies governing the use of consumer services for business purposes. Companies should also solicit input from the business community on what collaboration tools would be most helpful.

By 2012, over 50 percent of enterprises will use activity streams that include microblogging, but stand-alone enterprise microblogging will have less than 5 percent penetration.

The huge popularity of the consumer-microblogging service Twitter, has led many organizations to look for an “enterprise Twitter,” that provides microblogging functionality with more control and security features to support internal use between employees. Enterprise users want to use microblogging for many of the same reasons that consumers do to share quick insights, to keep up with what colleagues are doing, to get quick answers to questions and so on.

“However, it will be very difficult for microblogging as a stand-alone function to achieve widespread adoption within the enterprise. Twitter’s scale is one of the reasons for its popularity,” said Jeffrey Mann, research vice president for Gartner. “When limited to a single enterprise, that same scale is unachievable, reducing the number of users who will find it valuable. Mainstream enterprises are unlikely to adopt standalone, single-purpose microblogging products.

Through 2012, over 70 percent of IT-dominated social media initiatives will fail.

When it comes to collaboration, IT organizations are accustomed to providing a technology platform (such as, e-mail, IM, Web conferencing) rather than delivering a social solution that targets specific business value. Through 2013, IT organizations will struggle with shifting from providing a platform to delivering a solution. This will result in over a 70 percent failure rate in IT-driven social media initiatives. Fifty percent of business-led social media initiatives will succeed, versus 20 percent of IT-driven initiatives.

Enterprises will need to develop entirely new skill sets around designing and delivering social media solutions. Until this happens, failure rates will remain high. A dearth of methods, technologies and tools will impede the design and delivery of social media solutions in the near term. But long term, enterprises will realize that social media is not a “hit or miss” activity naturally prone to high failure rates, and that a calculated approach to social media solution delivery must be an IT competency. At that point, post 2012, the social software market growth will accelerate as will the overall impact of social media on business and society.

Within five years, 70 percent of collaboration and communications applications designed on PCs will be modeled after user experience lessons from smartphone collaboration applications.

As we move toward three billion phones in the world serving the main purpose of providing communications and collaboration anytime anywhere, Gartner expects more end users to spend significant time experiencing the collaborative tools on these devices. For some of the world, these will be the first or the only applications they use. The experience with these tools for all who use them will enable the user to handle far more conversations within a given amount of time than their PCs simply because they are easier to use. Just as the iPhone impacted user interface design on the desktop, the lessons in the collaboration space will dramatically affect PC applications, many of which are derivatives of decades-old platforms based on the PBX or other older collaboration paradigm.

“IT organizations should continue to procure leading-edge smartphones for testing and to accumulate knowledge on how the collaboration applications on such devices accomplish business tasks,” said Ken Dulaney, vice president and distinguished analyst at Gartner. “As more organizations consider replacing deskphones with cell phones, they may wish to anchor their collaboration tools also on the cell .”

Through 2015, only 25 percent of enterprises will routinely utilize social network analysis to improve performance and productivity.

Social network analysis is a useful methodology for examining the interaction patterns and information flows that occur among the people and groups in an organization, as well as among business partners and customers. However, when surveys are used for data collection, users may be reluctant to provide accurate responses. When automated tools perform the analysis, users may resent knowing that software is analyzing their behavior. For these reasons, social network analysis will remain an untapped source of insight in most organizations.

Before undertaking a social network analysis, Gartner recommends that the organization ensure that it has the trust and buy-in of the people it hopes to include in the analysis in advance. Issues of privacy and confidentiality must be addressed and a determination needs to be made regarding how the information will be used and communicated. Establishing the ground rules upfront will encourage more open and honest participation and reduce the resistance to ongoing relationship monitoring.

More information can be found in the report “Predicts 2010: Social Software Is an Enterprise Reality” which is available on Gartner’s Web site at http://www.gartner.com/resId=1243515.

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]]> http://www.ovsea.com/payment-news/gartner-reveals-five-social-software-predictions-for-2010-and-beyond/feed/ 0 Gartner Key Predictions for IT Organizations and Users in 2010 and Beyond http://www.ovsea.com/payment-news/gartner-key-predictions-for-it-organizations-and-users-in-2010-and-beyond/ http://www.ovsea.com/payment-news/gartner-key-predictions-for-it-organizations-and-users-in-2010-and-beyond/#comments Tue, 30 Mar 2010 08:32:37 +0000 mobile news http://www.ovsea.com/?p=140 Gartner, Inc. has highlighted the key predictions that herald long-term changes in approach for IT organizations and the people they serve for 2010 and beyond. Gartner’s top predictions for 2010 showcase the trends and events that will change the nature of business today and beyond.

These predictions were selected from across Gartner’s research areas as the most compelling and critical predictions. The trends and topics they address this year speak to the changing balance of power and focus in IT. Gartner analysts said last year’s themes of shifting ownership and revenue flows continue, becoming more pronounced and more sharply focused. As the macro-economic environment adjusts to a new balance between supply, consumer demand and regulation, the focus of this year’s top predictions has expanded to encompass shifts in the way that users interact with IT.

“As organizations make plans to navigate the economic recovery and prepare for the return to growth, our predictions for 2010 focus on the impact of critical changes in the balance of control and power in IT,” said Brian Gammage, vice president and research fellow at Gartner. “With greater financial and regulatory oversight for all IT investment decisions, few organizations will be unaffected.”

“For many organizations, the economic and budgetary challenges of 2009 drove important changes in the general governance of IT investment decisions, accelerating the trend toward greater accountability and transparency,” said Daryl Plummer, managing vice president and chief Gartner fellow. “With a strong emphasis on business-case justifications, chief financial officers (CFOs) assumed a more active role. Although most organizations enter 2010 preparing for a return to growth, this financial oversight is unlikely to be lifted anytime soon. For IT leaders, greater fluency in the language of business has become a requirement.”

Gartner’s top predictions are intended to compel readers to action and to position themselves to take advantage of coming changes, not to be damaged by them. Gartner’s top predictions for 2010 and beyond include:

By 2012, 20 percent of businesses will own no IT assets. Several interrelated trends are driving the movement toward decreased IT hardware assets, such as virtualization, cloud-enabled services, and employees running personal desktops and notebook systems on corporate networks.

The need for computing hardware, either in a data center or on an employee’s desk, will not go away. However, if the ownership of hardware shifts to third parties, then there will be major shifts throughout every facet of the IT hardware industry. For example, enterprise IT budgets will either be shrunk or reallocated to more-strategic projects; enterprise IT staff will either be reduced or reskilled to meet new requirements, and/or hardware distribution will have to change radically to meet the requirements of the new IT hardware buying points.

By 2012, India-centric IT services companies will represent 20 percent of the leading cloud aggregators in the market (through cloud service offerings). Gartner is seeing India-centric IT services companies leveraging established market positions and levels of trust to explore nonlinear revenue growth models (which are not directly correlated to labor-based growth) and working on interesting research and development (R&D) efforts, especially in the area of cloud computing. The collective work from India-centric vendors represents an important segment of the market’s cloud aggregators, which will offer cloud-enabled outsourcing options (also known as cloud services).

By 2012, Facebook will become the hub for social network integration and Web socialization. Through Facebook Connect and other similar mechanisms, Facebook will support and take a leading role in developing the distributed, interoperable social Web. As Facebook continues to grow and outnumber other social networks, this interoperability will become critical to the success and survival of other social networks, communication channels and media sites.

Other social networks (including Twitter) will continue to develop, seeking further adoption and specializations with communication or content areas, but Facebook will represent a common denominator for all of them.

By 2014, most IT business cases will include carbon remediation costs. Today, server virtualization and desktop power management demonstrate substantial savings in energy costs, and those savings can help justify projects. Incorporating carbon costs into business cases provides a further measure of savings, and prepares the organization for increased scrutiny of its carbon impact.

Economic and political pressure to demonstrate responsibility for carbon dioxide emissions will force more businesses to quantify carbon costs in business cases. Vendors will have to provide carbon life cycle statistics for their products or face market share erosion. Incorporating carbon costs in business cases will only slightly accelerate replacement cycles. A reasonable estimate for the cost of carbon in typical IT operations is an incremental one or two percentage points of overall costs. Therefore, carbon accounting will more likely shift market share than market size.

In 2012, 60 percent of a new PC’s total life greenhouse gas emissions will have occurred before the user first turns the machine on. Progress toward reducing the power needed to build a PC has been slow. Over the course of its entire lifetime, a typical PC consumes 10 times its own weight in fossil fuels, but around 80 percent of a PC’s total energy usage still happens during production and transportation.

Greater awareness among buyers and those that influence buying, greater pressure from eco-labels, increasing cost pressures and social pressure have awoken the IT industry to the problem of greenhouse gas emissions. Requests for proposal (RFPs) now frequently look for environment-related criteria of both product and vendor. Environmental awareness and legislative tightening will increase recognition of production as well as usage-related carbon dioxide emissions. Technology providers should expect that they will be required to provide carbon dioxide emission data to a growing number of customers.

Internet marketing will be regulated by 2015, controlling more than $250 billion in Internet marketing spending worldwide. Despite international efforts to eliminate “spam,” marketing “clutter” is abundant in every marketing channel. Pressure for greater accountability means the backlash from annoyed consumers will eventually drive legislation to regulate Internet marketing. Companies that focus primarily on the Internet for marketing purposes could find themselves unable to market effectively to customers, putting themselves at a competitive disadvantage when new regulations take effect. Although experiencing high growth, vendors who focus solely on, and sell predominately to, Internet marketing solutions could find themselves faced with a declining market, as companies shift marketing funds to other channels to compensate.

By 2014, over 3 billion of the world’s adult population will be able to transact electronically via or Internet technology. Emerging economies will see rapidly rising and Internet adoption through 2014. At the same time, advances in , commerce and banking are making it easier to electronically transact via or PC Internet. Combining these two trends creates a situation in which a significant majority of the world’s adult population will be able to electronically transact by 2014.

Gartner research predicts that by 2014, there will be a 90% penetration rate and 6.5 billion connections. Penetration will not be uniform, as continents like Asia (excluding Japan) will see a 68% penetration and Africa will see a 56% penetration. Although not every individual with a or Internet access will transact electronically, each will have the ability to do so. Cash transactions will remain dominant in emerging markets by 2014, but the foundation for electronic transactions will be well under way for much of the adult world.

By 2015, context will be as influential to consumer services and relationships as search engines are to the Web. Whereas search provides the “key” to organizing information and services for the Web, context will provide the “key” to delivering hyperpersonalized experiences across smartphones and any session or experience an end user has with information technology. Search centered on creating content that drew attention and could be analyzed. Context will center on observing patterns, particularly location, presence and social interactions. Furthermore, whereas search was based on a “pull” of information from the Web, context-enriched services will, in many cases, prepopulate or push information to users.

The most powerful position in the context business model will be a context provider. Web, device, social platforms, telecom service providers, enterprise software vendors and communication infrastructure vendors will compete to become significant context providers during the next three years. Any Web vendor that does not become a context provider risks handing over effective customer ownership to a context provider, which would impact the vendor’s and classic Web businesses.

By 2013, phones will overtake PCs as the most common Web access device worldwide. According to Gartner’s PC installed base forecast, the total number of PCs in use will reach 1.78 billion units in 2013. By 2013, the combined installed base of smartphones and browser-equipped enhanced phones will exceed 1.82 billion units and will be greater than the installed base for PCs thereafter.

Web users are typically prepared to make fewer clicks on a website than users accessing sites from a PC. Although a growing number of websites and Web-based applications offer support for small-form-factor devices, many still do not. Websites not optimized for the smaller-screen formats will become a market barrier for their owners — much content and many sites will need to be reformatted/rebuilt.

Additional information is in the Gartner report “Gartner’s Top Predictions for IT Organizations and Users, 2010 and Beyond: A New Balance.” The report examines the impact these long-term changes will have in combination with the ongoing trend toward the democratization of IT capabilities. The report is available on Gartner’s website at http://www.gartner.com/resId=1268513.

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]]> http://www.ovsea.com/payment-news/gartner-key-predictions-for-it-organizations-and-users-in-2010-and-beyond/feed/ 0 Microsoft partners with arvato to deliver global business process outsourcing efficiencies http://www.ovsea.com/payment-news/microsoft-partners-with-arvato-to-deliver-global-business-process-outsourcing-efficiencies/ http://www.ovsea.com/payment-news/microsoft-partners-with-arvato-to-deliver-global-business-process-outsourcing-efficiencies/#comments Wed, 27 Jan 2010 20:27:49 +0000 mobile news http://www.ovsea.com/?p=118 Microsoft has signed a global business process outsourcing partnership with arvato AG, one of the world’s largest internationally networked media and communication services providers.

The five-year agreement – which sees Microsoft consolidating operational activities for several key business lines previously handled by multiple suppliers with one vendor – commences in January 2010.Arvato will support this business globally from their operations based in Dublin, Singapore, Reno (Nevada) Fargo (North Dakota), Manila and Buenos Aires.

In its new role as a key global business process outsourcing partner, arvato will manage services for Microsoft Dynamics (formerly known as Microsoft Business Solutions), Commercial Operations, Services and OEM (Original Equipment Manufacturer) divisions.

The teams will be using the latest BPM (Business Process Mapping), CRM and data management technology to handle operations including software licensing and distribution, partner reward schemes, day-to-day invoice processes for Microsoft distributors, technology deployment, technical support and customer services.

arvato will also be developing an enhanced managed services model to simplify, globalize and standardize processes across the four business lines and significantly reduce costs.

Microsoft and arvato have worked together as strategic partners since 1994, collaborating on a number of major global projects.

Matthias Mierisch, Head of arvato’s Global BPO Unit for Microsoft and CEO of arvato UK & Ireland, said: “Over the last fifteen years, arvato has been successfully delivering against Microsoft’s growth objectives.

“This agreement is testament to the hard work and dedication of our employees over this time and the quality of service we provide every day to some of the world’s most trusted brands.

“We will now be focusing on ensuring Microsoft realises the true benefits from this latest substantial investment in arvato.”

“Moving from many to a single vendor with such extensive international reach will not only be more efficient, but also help ensure global consistency in the way we do business,” said Matt Rossmeissl, Microsoft Vice President Commercial Operations. “We’re looking forward to collaborating with arvato to create new opportunities, greater convenience and enhanced value to our partners and customers around the world.”

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]]> http://www.ovsea.com/payment-news/microsoft-partners-with-arvato-to-deliver-global-business-process-outsourcing-efficiencies/feed/ 0 NFC mobile payments to exceed $30 billion by 2012 http://www.ovsea.com/payment-news/nfc-mobile-payments-to-exceed-30-billion-by-2012/ http://www.ovsea.com/payment-news/nfc-mobile-payments-to-exceed-30-billion-by-2012/#comments Tue, 10 Nov 2009 10:44:30 +0000 mobile news http://www.ovsea.com/?p=65 The study, “NFC Payments & Marketing Opportunities: Forecasts & Analysis 2009 – 2014,” (source) predicts NFC payments will exceed $30 billion within three years:

  • The first NFC devices will be shipped commercially later in 2009 and the market will ramp up from 2011.
  • NFC/Felica payments are already established in Japan but by 2014 North America and Western Europe will be experiencing high growth.
  • By 2012, NFC global gross transaction value will exceed $30 billion.
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]]> http://www.ovsea.com/payment-news/nfc-mobile-payments-to-exceed-30-billion-by-2012/feed/ 0 Mobile payments 2010 – Market analysis and overview – Innopay http://www.ovsea.com/mobile-payment/mobile-payments-2010-%e2%80%93-market-analysis-and-overview-innopay/ http://www.ovsea.com/mobile-payment/mobile-payments-2010-%e2%80%93-market-analysis-and-overview-innopay/#comments Mon, 09 Nov 2009 14:10:59 +0000 mobile news http://www.ovsea.com/?p=63 payments 2010: Market analysis and overview – ‘ payments 2010’ is written and published by Innopay in cooperation with Telecompaper, elaborates on the trends, developments and issues, and provides an overview of more than 150 initiatives from around the world.

The report consists of two parts:
Part 1: on the trends, developments and issues in the field of payments
Part 2: overview of more than 150 initiatives from around the world

Download free copy of The Payments Report 2010 here

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]]> http://www.ovsea.com/mobile-payment/mobile-payments-2010-%e2%80%93-market-analysis-and-overview-innopay/feed/ 0 Bank of America Introduces BankAmericard Visa Card http://www.ovsea.com/payment-news/bank-of-america-introduces-bankamericard-visa-card/ http://www.ovsea.com/payment-news/bank-of-america-introduces-bankamericard-visa-card/#comments Mon, 21 Sep 2009 08:49:32 +0000 mobile news http://www.ovsea.com/?p=34 Bank of America has announced the BankAmericard Basic™ Visa card. “The new card features one basic rate for all types of transactions, including balance transfers and cash advances. That rate, which is tied to the U.S. Prime Rate, will not change over the life of the account.” The new card will be available online at bankofamerica.com in October.

Key features of the BankAmericard Basic Visa card include:

  • The interest rate is the same for all transactions, including purchases and cash advances, making it easy for customers to keep track of their interest rate at any given time.
  • One interest rate — U.S. Prime plus a margin of 14 percent — that never changes for the life of the account. Rate increases and decreases will only occur if the Prime Rate changes.
  • No over-the-limit fee.
  • Easy- to-understand, single-page disclosure explains terms and conditions.
  • One flat fee of $39 for late payments.
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