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Watch2Pay combines wristwatch with prepaid MasterCard
Mobile payments industry observers have focused most of their attention on smartphones with near field communications technology. However, an Austrian company has dreamed up a way for prepaid debit card users to avoid reaching for their pockets altogether.
LAKS’ new Watch2Pay product embeds a contactless EMV chip inside a black fashion wristwatch, enabling the wearer to wave their wrist at any point-of-sale terminal that accepts MasterCard PayPass. The package includes a full-size, companion debit card so the wearer can use the same account with magnetic stripe readers that haven’t yet been updated for contactless payments.
Watch includes fee-free, reloadable MasterCard
LAKS sells the watch and registers the prepaid debit cards for customers in the United Kingdom and Poland from its website, Watch2Pay.com. The company partnered with prepaid MasterCard issuer Kalixa for account management.
Enterprise Agreement for IAG employees approved by FWA
The union negotiated Enterprise Agreement voted up in December has been approved by Fair Work Australia. The Agreement, and the conditions contained in it, take effect on 1 February 2012.
This approval formalises the annual safety net increase for the vast majority of IAG staff who are achieving expectations in their roles, in conjunction with the guaranteed pool allocation of 3% for 2012.
It also means that IAG employees can now access higher loadings for Sunday work, more paid parental leave, and mid service leave for employees with 7, 8 or 9 years’ service.
With mid-year reviews starting in March this year, it’s a good idea to familiarise yourself with the provisions in the Agreement around steps you can take if you don’t agree with your review outcome, or if you have concerns about the process.
Obama’s vision splits small businesses
Last nights State of the Union address from President Barack Obama left small business owners divided over his plans for economic recovery which included eliminating tax perks for companies that offshore jobs and beefing up training stimulus for technology jobs. Here is a roundup of what stakeholders are saying around the blogosphere:
Atlanta small business leaders were skeptical and angry about some of the proposals put forth by Obama and scoffing at what they perceive as a growing regulatory environment while cringing at the thought of a minimum tax on the wealthy, reports WSB Radio.com.
The American Small Business League declares Obama ignored the needs of small businesses; a major contributer to the economy as they create 90 percent of new jobs. The group that represents 98 percent of U.S. companies
Daily electronic deals: Samsung Series 9 13-inch ultrabook
Today’s electronics deals, courtesy of The Consumerist:
- Tanga.com: Original Sandisk 16GB Class 4 Micro SDHC Card with Adapter for $13.99
- Microsoft Store: 3-lb. Samsung Core i5 13″ SSD Laptop w/$200 credit for $999 + free shipping
- AT&T Wireless: Refurbished Apple iPhone 4 16GB for $100 + free shipping
Entertainment
- Amazon: Star Trek: Original Motion Picture Collection (Blu-ray) $46.99, free ship
- NewEgg: Xbox 360 320GB Console Call of Duty: Modern Warfare 3 Limited Edition Bundle $299.99, free ship
- Buy.com: Xbox 360 250GB Kinect Bundle + 3-Month Xbox Live + Carnival Games + Kinect Adventures for $349.99 w/ Free Shipping
For general buying advice for many of the products on sale above, check out our free Buying Guides.
Strong holiday spending could prompt new credit card offers
Americans took on more credit card debt during the 2011 holiday season without going overboard, according to statistics from Experian and the Federal Reserve. Government officials announced figures from November that show a $20 billion spike in consumer spending, the biggest holiday rebound in over a decade.
Though auto sales played a major part in the holiday spending surge, researchers say a combination of favorable weather and deep discounts encouraged many Americans to float at least some of their purchases on credit cards. Retail credit cards and zero percent APR credit cards helped inspire a 4 percent boost in consumer goods sales.
The Federal Reserve’s announcement echoes results from a new consumer study commissioned by credit reporting bureau Equifax. Americans’ overall credit card balances still represent a sharp drop from their all-time highs in the fall of 2008, according to Equifax’s latest National Credit Trends Report.
Politicians Speak Out Against Suncorp Plans To Offshore
Indian based companies Genpact and World Network Services are currently scoping back office roles at Suncorp/AAMI which includes claims, distribution, recoveries, settlements, administration and finance. There have been reports in the Financial Press that as a result of the current scoping, thousands of Australian Suncorp jobs may be offshored.
In 2006 active FSU members stopped almost 500 back office jobs at Westpac from being offshored to India. It took a strong political, community and workplace campaign to achieve that result. And together we can do it again!
The FSU has contacted State and Federal politicians calling for them to support Australian Suncorp workers whose jobs are being threatened by offshoring plans.
Queensland Labor Senator Claire Moore wrote directly to Patrick Snowball and called on Suncorp to discard any plans to offshore jobs.
Entrepreneurship a “series of failures”: Babson study
Failure shouldn’t be a dirty word for entrepreneurs.
That’s one of several new findings by Babson College, in collaboration with The Business Innovation Factory, a nonprofit research group, as part of an in-depth look at American entrepreneurs and their attitudes toward business.
“We found that entrepreneurship is just a series of failures,” said Heidi Neck, an associate professor of entrepreneurship and director of the Entrepreneur Experience Lab at the Boston area college, which is known for entrepreneurial studies.
“You need to prepare for failure, you need to tolerate failure and you need to learn from failure,” she said. “Maybe we n