American Express is going for a different set of consumers in its newest prepaid card campaign. The card issuer plans to offer prepaid debit cards linked to an extremely popular PC video game, and attempt to capture a large consumer group made mostly of younger gamers.
- PayPal is testing a facial recognition feature in London. Shoppers “check in” to participating retailers through their smartphones. Merchants will see the customer’s face in the system. The customer agrees to the item and the clerk selects the customer’s face in the system to complete the payment.
- On Monday, U.S. Bank will change the direct deposit fee-waiver requirement for two of its low-tier checking accounts. But, the bank’s Gold Checking account will have a more consumer-friendly way of avoiding its monthly fee, allowing more customers to have a feature-backed checking account.
- Also on Monday, BB&T will also make a significant change to its fee-waiver requirement for its basic checking account. Customers will need total direct deposits of $500 as opposed to a single $100 direct deposit to avoid the monthly fee. Depending on the customer’s financial situation, this is could be a good or bad change.
- On Wednesday, American Express plans to issue prepaid cards for League of Legends by Riot Games, currently one of the most popular online video games in the world. The line of prepaid cards will offer various ways to earn points that can be used to redeem for in-game extras. The partnership is targeted at 32 million players worldwide, who play a combined one billions hours per month.
- EverBank, one the leading online banks, is expected to introduce a new market-linked certificate of deposit (CD) product this week. The online bank is known for non-traditional, FDIC-insured CD accounts that offer returns based on the performance on a basket of investments, including commodities and foreign currencies. These accounts are often limited-time offerings.