For years, you filed your tax return, waited a few weeks, then got a check in the mail. If you're expecting a return on state income taxes in Oklahoma, there will be something different showing up in your mail box.
"Oklahoma has issued a new debit card. It's for people who do no have a banking account," explained tax professional Jamie Burkhart.
If you do have a bank account, the money will be deposited directly into your account, but Oklahoma hopes the option of a debit card will take care of everyone.
"They're feeling that this is more convenient for the taxpayers. They don't have to worry about issuing checks, checks getting lost, and you can replace your debit card for four dollars," said Burkhart.
Jamie Burkhart prepares taxes at Liberty Tax Services in Ardmore. She has already seen the plastic option gain popularity.
"There are a lot of people who don't have or choose not to have a debit card. Students, stuff like that, it's easier to just take a debit card with them, that way they don't have to worry about mom and dad cashing their check for them," Burkhart said.
For added convenience, multiple cards can be issued for one return.
"Each individual gets a card, so if they choose to do married filing jointly and they have that deduction, they both will get a card," Burkhart explained.
Unlike check cashing services that charge extra for putting money on a prepaid debit card, there is no initial cost for choosing plastic. Of course, like all cards, there can be extra charges.
"It's just like a check, but they issue it on a card. The only charge is the standard merchant charge for using a debit or master card, which is usually around a dollar fifty," said Burkhart.
The State of Oklahoma is hoping the new program cuts down on waste as well as hassle.
2012年2月20日 星期一
2011年12月14日 星期三
Senate Agriculture, Nutrition and Forestry Committee Hearing
Recognizing the enormous impact on many peoples' lives resulting from the events surrounding the MF Global bankruptcy, I appear at today's hearing with great sadness. My sadness, of course, pales in comparison to the losses and hardships that customers, employees and investors have suffered as a result of MF Global's bankruptcy. Their plight weighs on my mind every day - every hour. And, as the chief executive officer of MF Global at the time of its bankruptcy, I apologize to all those affected.
Before I address what happened, I must make clear that since my departure from MF Global on November 3, 2011, I have had limited access to many relevant documents, including internal communications and account statements, and even my own notes, all of which are essential to my being able to testify accurately about the chaotic, sleepless nights preceding the declaration of bankruptcy. Furthermore, even when I was at MF Global, my involvement in the firm's clearing, settlement and payment mechanisms, and accounting was limited.
The Members should also understand that the Committee turned down my request to testify voluntarily in January. I had hoped that, by that time, I would have obtained and reviewed relevant records so that I could be more helpful to the Committee.
As a consequence of my situation, not every fact of which I am or may have been aware that may be relevant to your inquiry is contained in this statement. While I intend to be responsive to the best of my ability today, without adequate time and materials to prepare, I may be unable to respond to various questions members might pose. Other questions, given my specific role in the company, will be questions for which I simply have no personal knowledge. Many of your questions may well be ones I myself have.
Considering the circumstances, many people in my situation would almost certainly invoke their constitutional right to remain silent - a fundamental right that exists for the purpose of protecting the innocent. Nonetheless, as a former United States Senator who recognizes the importance of congressional oversight, and recognizing my position as former chief executive officer in these terrible circumstances, I believe it is appropriate that I attempt to respond to your inquiries.
I was born in 1947 and raised in the rural community of Taylorville, Illinois. After high school graduation in 1965, I attended the University of Illinois, from which I graduated in 1969. In the summer of 1969, I joined the United StatesMarine Corps Reserve, in which I served until 1975. In 1970, I enrolled in the University of Chicago Business School. I took classes at night while working at a bank during the day, and I and received my MBA in 1973.
Before I address what happened, I must make clear that since my departure from MF Global on November 3, 2011, I have had limited access to many relevant documents, including internal communications and account statements, and even my own notes, all of which are essential to my being able to testify accurately about the chaotic, sleepless nights preceding the declaration of bankruptcy. Furthermore, even when I was at MF Global, my involvement in the firm's clearing, settlement and payment mechanisms, and accounting was limited.
The Members should also understand that the Committee turned down my request to testify voluntarily in January. I had hoped that, by that time, I would have obtained and reviewed relevant records so that I could be more helpful to the Committee.
As a consequence of my situation, not every fact of which I am or may have been aware that may be relevant to your inquiry is contained in this statement. While I intend to be responsive to the best of my ability today, without adequate time and materials to prepare, I may be unable to respond to various questions members might pose. Other questions, given my specific role in the company, will be questions for which I simply have no personal knowledge. Many of your questions may well be ones I myself have.
Considering the circumstances, many people in my situation would almost certainly invoke their constitutional right to remain silent - a fundamental right that exists for the purpose of protecting the innocent. Nonetheless, as a former United States Senator who recognizes the importance of congressional oversight, and recognizing my position as former chief executive officer in these terrible circumstances, I believe it is appropriate that I attempt to respond to your inquiries.
I was born in 1947 and raised in the rural community of Taylorville, Illinois. After high school graduation in 1965, I attended the University of Illinois, from which I graduated in 1969. In the summer of 1969, I joined the United StatesMarine Corps Reserve, in which I served until 1975. In 1970, I enrolled in the University of Chicago Business School. I took classes at night while working at a bank during the day, and I and received my MBA in 1973.
2011年10月13日 星期四
DaCast Introduces Streaming as a Service
DaCast announced today the release of "Streaming as a Service," a totally automated, integrated and flexible solution for professional online broadcasting.
"Broadcasters no longer need to focus on the technical or resource heavy-aspects of streaming, but rather on their business", said Stephane Roulland, CEO of DaCast. "Using the DaCast cloud, users can access all the services they need to start streaming and to begin making money immediately. Through Streaming as a Service, we are bringing high-quality broadcasting to a broader population where thousands of professionals can stream and monetize their content with minimal investment, thereby engineering a solution that does for streaming what Salesforce and Adwords did for their respective markets".
With the Streaming as a Service approach, charges are linear to the broadcaster's requirements, enabling a cost-effective solution where content creators only pay for what they need in a one-size-fits-all model that gives access to all the same tools and features.
The scalable and self-serve nature of the platform drastically reduces the cost of customer acquisition and management for broadcasters. It also gives them complete control of their environment, allowing them to substantially increase their performance.
DaCast offers a complete range of instantaneous broadcasting services all available through a cloud with no downloads required. This includes live streaming, playlists, a Flash player, Facebook embedding, multi-devices capability, transcoding, deep analytics, merchant account, and Pay-Per-View system.
Content owners also have the ability to develop their own paywalls with a completely automated and interconnected service without any license fees. Transactions are handled from an integrated merchant account and payment system called Pay-in-Play™, which registers purchases from inside a media player.
DaCast has launched its public API for live streaming into beta for interested partners. The public API lets media service providers offer DaCast technology to their own clients through a pure white label interface.
"Broadcasters no longer need to focus on the technical or resource heavy-aspects of streaming, but rather on their business", said Stephane Roulland, CEO of DaCast. "Using the DaCast cloud, users can access all the services they need to start streaming and to begin making money immediately. Through Streaming as a Service, we are bringing high-quality broadcasting to a broader population where thousands of professionals can stream and monetize their content with minimal investment, thereby engineering a solution that does for streaming what Salesforce and Adwords did for their respective markets".
With the Streaming as a Service approach, charges are linear to the broadcaster's requirements, enabling a cost-effective solution where content creators only pay for what they need in a one-size-fits-all model that gives access to all the same tools and features.
The scalable and self-serve nature of the platform drastically reduces the cost of customer acquisition and management for broadcasters. It also gives them complete control of their environment, allowing them to substantially increase their performance.
DaCast offers a complete range of instantaneous broadcasting services all available through a cloud with no downloads required. This includes live streaming, playlists, a Flash player, Facebook embedding, multi-devices capability, transcoding, deep analytics, merchant account, and Pay-Per-View system.
Content owners also have the ability to develop their own paywalls with a completely automated and interconnected service without any license fees. Transactions are handled from an integrated merchant account and payment system called Pay-in-Play™, which registers purchases from inside a media player.
DaCast has launched its public API for live streaming into beta for interested partners. The public API lets media service providers offer DaCast technology to their own clients through a pure white label interface.
2011年10月10日 星期一
Sore throat? No doctor? Run out to the store
As the health reform law takes effect, 30 million uninsured people will gain coverage, creating unprecedented demand for services from an already overburdened system. Indeed, a new report from Medicare estimates that health care expenditures will increase more than $2 trillion by 2020, consuming 20 percent of the U.S. economy.
To meet that demand, we must ramp up the supply of medical services. Retail health clinics and pharmacies are one of the best ways to do this. Treatments delivered in this setting can provide quality care at low cost and benefit patients, physicians, employers, taxpayers and the government.
In 2009, more than 1,000 retail clinics were operating in the U.S. According to clinic tracker Merchant Medicine, the number could almost triple by 2015. These clinics provide treatment for many common ailments, like sore throats and earaches. They also provide preventive care, including vaccinations and cholesterol screenings.
These clinics aren't designed to replace primary care physicians; they're designed to complement them. They offer a unique combination of low prices, convenience and accessibility. That set-up is extremely attractive, particularly for Americans who don't have a regular doctor.
It's no wonder that use has nearly doubled over the past three years, according to PricewaterhouseCoopers. A 2009 study in the Journal of the American Academy of Nurse Practitioners found that 96 percent of retail-clinic users were satisfied or very satisfied with their care.
The popularity of these clinics shouldn't be surprising. Prices are low and publicly advertised. Nearly all accept insurance, and patients can visit at their convenience. But not everyone is a fan. This summer, the American Medical Association came out against retail clinics, saying it would lobby insurers not to provide incentives for patients to visit retail outlets.
The AMA claims that it is solely concerned with quality and continuity of care. But research shows that care provided by retail clinics is consistently comparable, and in some cases superior, to that provided by conventional medical clinics.
In 2009, independent researchers at the Rand Corp. compared cost, quality, and accessibility at retail clinics, urgent-care centers and emergency rooms. On a quality scale, with 100 percent being perfect, the clinics finished first with 63.6 percent. Urgent-care centers and physicians' offices followed closely. Overburdened ERs finished last, at 55.1 percent.
Furthermore, a 2010 Rand study of three common illnesses found that the average visit to a retail clinic cost $110, compared with $156 for urgent-care centers, $166 at a physician's office and $570 at an ER. At the retail clinics of Target, my employer - which has two in Palm Beach County - minor illness exams run as low as $59, while a wellness visit is $25 to $64.
Across clinics, young adults in general good health account for a third of users. This makes sense; evidence suggests that about 30 percent of clinic patients don't have a source of primary care, and about 25 percent of patients who show up at clinics would have gone to an ER if not for the retail clinic.
To meet that demand, we must ramp up the supply of medical services. Retail health clinics and pharmacies are one of the best ways to do this. Treatments delivered in this setting can provide quality care at low cost and benefit patients, physicians, employers, taxpayers and the government.
In 2009, more than 1,000 retail clinics were operating in the U.S. According to clinic tracker Merchant Medicine, the number could almost triple by 2015. These clinics provide treatment for many common ailments, like sore throats and earaches. They also provide preventive care, including vaccinations and cholesterol screenings.
These clinics aren't designed to replace primary care physicians; they're designed to complement them. They offer a unique combination of low prices, convenience and accessibility. That set-up is extremely attractive, particularly for Americans who don't have a regular doctor.
It's no wonder that use has nearly doubled over the past three years, according to PricewaterhouseCoopers. A 2009 study in the Journal of the American Academy of Nurse Practitioners found that 96 percent of retail-clinic users were satisfied or very satisfied with their care.
The popularity of these clinics shouldn't be surprising. Prices are low and publicly advertised. Nearly all accept insurance, and patients can visit at their convenience. But not everyone is a fan. This summer, the American Medical Association came out against retail clinics, saying it would lobby insurers not to provide incentives for patients to visit retail outlets.
The AMA claims that it is solely concerned with quality and continuity of care. But research shows that care provided by retail clinics is consistently comparable, and in some cases superior, to that provided by conventional medical clinics.
In 2009, independent researchers at the Rand Corp. compared cost, quality, and accessibility at retail clinics, urgent-care centers and emergency rooms. On a quality scale, with 100 percent being perfect, the clinics finished first with 63.6 percent. Urgent-care centers and physicians' offices followed closely. Overburdened ERs finished last, at 55.1 percent.
Furthermore, a 2010 Rand study of three common illnesses found that the average visit to a retail clinic cost $110, compared with $156 for urgent-care centers, $166 at a physician's office and $570 at an ER. At the retail clinics of Target, my employer - which has two in Palm Beach County - minor illness exams run as low as $59, while a wellness visit is $25 to $64.
Across clinics, young adults in general good health account for a third of users. This makes sense; evidence suggests that about 30 percent of clinic patients don't have a source of primary care, and about 25 percent of patients who show up at clinics would have gone to an ER if not for the retail clinic.
2011年6月29日 星期三
Making it Even Easier for Merchants to Reduce the Risk of Fraud
It use to be that merchants that accepted card-not-present (CNP) transactions were at significantly higher risk of fraud, chargebacks and cybercrime. The fraud prevention strategies required to protect their businesses from this kind of mischief were largely ineffective, often expensive and caused hassles in the customer experience or processing flow. Knowing this, Instamerchant.com, a progressive merchant account and credit card processing service, is proud to announce their newest add-on security solution that aims to remove the difficulties and limitations of existing fraud tools to further reduce the risk of fraud.
“We are constantly on the lookout to help our merchants fight fraud. This scoring tool will be a great tool for any merchant that wants to take their fraud prevention to the next level,” says David Standage, the owner of InstaMerchant.com.
Built in collaboration with their industry-leading fraud detection partner, Instamerchant.com’s latest fraud detection solution offers merchants of all sizes access to a sophisticated and comprehensive technology and, because it’s an add-on to their already expansive offering, merchants can avoid tedious and complex integration efforts.
This best-in-class fraud detection technology will help to identify and prevent chargebacks, as well as, it provides specific data on shopper behavior and trends to ensure merchants can appropriately acknowledge “good” customers. Additionally, it includes an automated, real-time scoring engine that evaluates the risk level of transaction data during the authorization process – creating merchant profiles that are unique and customized to handle scored transactions in several different ways.
Instamerchant.com is a known leader in fraud prevention and this newly released add-on technology is just another functional weapon in their arsenal of merchant protection. Above all, they are proud to provide an easy security solution that will remove all doubt and ultimately put more money in the pockets of their merchants.
Instamerchant.com provides every type of electronic payment which includes credit card processing, check guarantee, debit cards and gift cards for both retail and internet merchants. They work with all business types and sizes from home based Internet businesses to mom and pop retail stores, to large national chains. Instamerchant.com boasts one of the most competitive online merchant account solutions in the world.
“We are constantly on the lookout to help our merchants fight fraud. This scoring tool will be a great tool for any merchant that wants to take their fraud prevention to the next level,” says David Standage, the owner of InstaMerchant.com.
Built in collaboration with their industry-leading fraud detection partner, Instamerchant.com’s latest fraud detection solution offers merchants of all sizes access to a sophisticated and comprehensive technology and, because it’s an add-on to their already expansive offering, merchants can avoid tedious and complex integration efforts.
This best-in-class fraud detection technology will help to identify and prevent chargebacks, as well as, it provides specific data on shopper behavior and trends to ensure merchants can appropriately acknowledge “good” customers. Additionally, it includes an automated, real-time scoring engine that evaluates the risk level of transaction data during the authorization process – creating merchant profiles that are unique and customized to handle scored transactions in several different ways.
Instamerchant.com is a known leader in fraud prevention and this newly released add-on technology is just another functional weapon in their arsenal of merchant protection. Above all, they are proud to provide an easy security solution that will remove all doubt and ultimately put more money in the pockets of their merchants.
Instamerchant.com provides every type of electronic payment which includes credit card processing, check guarantee, debit cards and gift cards for both retail and internet merchants. They work with all business types and sizes from home based Internet businesses to mom and pop retail stores, to large national chains. Instamerchant.com boasts one of the most competitive online merchant account solutions in the world.
2011年3月28日 星期一
Credit Card Pioneer on Lowering Processing Expense
Credit card processing can be one of the most confusing parts of ecommerce for many merchants. The rates fluctuate widely and the monthly statements are hard to follow. And yet, credit card processing is key to virtually every ecommerce business. To help us understand how merchants can save money on their processing costs, we spoke to credit-card processing pioneer Sloane Bouchever. He's the co-founder of e-onlinedata, the large merchant account provider, and prior to that he was senior vice president of Authorize.Net, the payment gateway. His new firm is Interchange Plus Solutions. We talked with him about credit card payments and how merchants can reduce their processing costs.
Practical eCommerce: What is your view of the credit card processing business, especially from an ecommerce merchant's perspective?
Sloane Bouchever: "Overall, I think the industry has been a great ally of ecommerce merchants. When I started focusing on ecommerce in the 1990s, very few processors would approve Internet accounts because they perceived the risk was too high. Merchant account providers and gateways like Authorize.Net have embraced ecommerce. I think it's helped web merchants to build their businesses for the past 15 years."
PEC: What are some of the most common fee abuses that account providers are imposing on ecommerce merchants?
Bouchever: "There are a number of abuses that particularly stand out and most of them are inherent to the three-tier [i.e. "qualified," "mid-qualified," "non-qualified"] billing system that most small ecommerce merchants are set up on. Number one is downgrading rewards and corporate cards to nonqualified rates. The actual interchange cost for an ecommerce rewards card is just about 2.06 percent, but many merchant account providers are downgrading rewards cards and actually charging over 4 percent.
"Number two, the cost of processing a debit card is much, much lower than processing a credit card because the risk is much lower. But processors are charging debit cards on the Internet at about 2.25 percent where the rates are really much lower. They're not passing through the lower risk on debit card transactions.
"Number three, a lot of processors are taking unfair advantage of the yearly increases in Visa and MasterCard rates and fees. Every April and October, Visa and MasterCard typically adjust their interchange rates. So, suppose Visa raises the interchange fees for, say, corporate cards by three basis points, which is 0.03 percent; many providers will take advantage of this and increase across the board all card types by 5 or 6 basis points. In my opinion, this adding of interchange is a serious violation of trust.
"And don't get me started on termination fees that providers are charging to small merchants. They are really unjust and unfair. If you want to change your processor, you should be allowed to do that."
Practical eCommerce: What is your view of the credit card processing business, especially from an ecommerce merchant's perspective?
Sloane Bouchever: "Overall, I think the industry has been a great ally of ecommerce merchants. When I started focusing on ecommerce in the 1990s, very few processors would approve Internet accounts because they perceived the risk was too high. Merchant account providers and gateways like Authorize.Net have embraced ecommerce. I think it's helped web merchants to build their businesses for the past 15 years."
PEC: What are some of the most common fee abuses that account providers are imposing on ecommerce merchants?
Bouchever: "There are a number of abuses that particularly stand out and most of them are inherent to the three-tier [i.e. "qualified," "mid-qualified," "non-qualified"] billing system that most small ecommerce merchants are set up on. Number one is downgrading rewards and corporate cards to nonqualified rates. The actual interchange cost for an ecommerce rewards card is just about 2.06 percent, but many merchant account providers are downgrading rewards cards and actually charging over 4 percent.
"Number two, the cost of processing a debit card is much, much lower than processing a credit card because the risk is much lower. But processors are charging debit cards on the Internet at about 2.25 percent where the rates are really much lower. They're not passing through the lower risk on debit card transactions.
"Number three, a lot of processors are taking unfair advantage of the yearly increases in Visa and MasterCard rates and fees. Every April and October, Visa and MasterCard typically adjust their interchange rates. So, suppose Visa raises the interchange fees for, say, corporate cards by three basis points, which is 0.03 percent; many providers will take advantage of this and increase across the board all card types by 5 or 6 basis points. In my opinion, this adding of interchange is a serious violation of trust.
"And don't get me started on termination fees that providers are charging to small merchants. They are really unjust and unfair. If you want to change your processor, you should be allowed to do that."
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