MESA, Ariz. - (01/11/06) Parents have a new tool to helpcontrol their kids spending. A start-up card company called AllowCard of America has introduced a prepaid stored-value card that isbeing marketed to students to allow them to make purchases withouthaving to carry cash, checks, or credit cards. The new twist inthese prepaid Mastercards, called Allow Cards, is that parents canset daily, weekly or monthly spending limits, review statementsonline, and even decide where the cards can be used. Parents could,for example, allow their child to use the card at the collegebookstore, but not the local video store. Parents can also addfunds to the cards either online or by telephone. Allow Card isalso offering online financial literacy courses for card users toteach young people money skills.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3