While reading the story below about poor performance by telephone calling card companies, realize that IPM cards can be used as cash loadable phone cards. We can offer comprehensive cards and attract dissatisfied calling card customers.
From the Las Vegas SUN
By Timothy Pratt
For Adolfo Galvez, keeping in touch with his wife and 3-year-old daughter back home in Guatemala has meant learning a thing or two.
You change telephone calling cards every few months, because some cards lose minutes after being on the market for a while.
If you dial your wife's cell phone, you'll get fewer minutes than if you call her on a land line.
Then there are some things you just accept - fewer minutes than the calling card promises, dropped lines resulting in a loss of minutes.
If you complain? "There's no one who will listen," Galvez said.
The 30-year-old stood Thursday afternoon outside the Phone Card Super Center, a busy store near Bonanza Road and Eastern Avenue plastered with fiesta-colored posters offering dozens of $5 cards that allow immigrants and others to call foreign countries.
After four years in the United States, his experience with the cards has mirrored the results of a study released this week by the Hispanic Institute, a Washington nonprofit organization.
The study said the calling card industry is ripping off Hispanics and other immigrants, offering fewer minutes than advertised and hitting millions of immigrants , many of whom don't complain, with hidden charges.
Read the rest by clicking here.
Showing posts with label hispanic. Show all posts
Showing posts with label hispanic. Show all posts
Monday, September 24, 2007
Tuesday, July 3, 2007
America's Great Divide
Hat Tip: Bank Technology News
About 73 million people in the U.S. are unbanked or underbanked, a marketplace that is as diverse as it is unknown-often new to the U.S., frequently entrepreneurial and all lacking credit histories. Banks will find a bevy of new risk tools to help reach out to this market of emerging creditors
By Michael Sisk
The subprime mortgage troubles have grabbed a lot of headlines this year as delinquencies and foreclosures mount and lenders scramble to tighten underwriting standards and head off onerous new rules from a populist-minded Washington. But this story has masked another lending phenomenon gathering momentum: lending to unbanked or lightly banked consumers, whom some are calling "emerging credit."
Make no mistake, there is a significant difference between subprime and unbanked. The former have established and blemished credit histories that can be viewed through the three major credit repositories, while unbanked can't be easily tracked because they have never had a credit card, car loan, mortgage or other financial product that would leave a credit trail. However, these two groups do have two major commonalities: risk profiles that fall outside the norm and must be carefully studied before extending credit; each group also represents a deep pool of potential customers.
Reaching the unbanked is one of those perennial dilemmas for banks, but several new technology tools recently have been unveiled that show great promise in helping to bridge this gap. And it is a gap worth bridging. The Center for Financial Services Innovation estimates 73 million people in the U.S. are either unbanked or underbanked. When one considers that that figure is 56 percent of the total banked population of 130 million, it becomes pretty clear how much business is up for grabs.
Click here to read the rest.
About 73 million people in the U.S. are unbanked or underbanked, a marketplace that is as diverse as it is unknown-often new to the U.S., frequently entrepreneurial and all lacking credit histories. Banks will find a bevy of new risk tools to help reach out to this market of emerging creditors
By Michael Sisk
The subprime mortgage troubles have grabbed a lot of headlines this year as delinquencies and foreclosures mount and lenders scramble to tighten underwriting standards and head off onerous new rules from a populist-minded Washington. But this story has masked another lending phenomenon gathering momentum: lending to unbanked or lightly banked consumers, whom some are calling "emerging credit."
Make no mistake, there is a significant difference between subprime and unbanked. The former have established and blemished credit histories that can be viewed through the three major credit repositories, while unbanked can't be easily tracked because they have never had a credit card, car loan, mortgage or other financial product that would leave a credit trail. However, these two groups do have two major commonalities: risk profiles that fall outside the norm and must be carefully studied before extending credit; each group also represents a deep pool of potential customers.
Reaching the unbanked is one of those perennial dilemmas for banks, but several new technology tools recently have been unveiled that show great promise in helping to bridge this gap. And it is a gap worth bridging. The Center for Financial Services Innovation estimates 73 million people in the U.S. are either unbanked or underbanked. When one considers that that figure is 56 percent of the total banked population of 130 million, it becomes pretty clear how much business is up for grabs.
Click here to read the rest.
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