RE: CBC news on on-line credit card theftGladys7, please stop inferring that Vendtek will somehow benefit from issuing prepaid credit cards. This is a tough business, with poor margins for the POSA provider. In addition, VSI has been issuing prepaid credit cards in the past with no meaningful results. Also recall the deal with the Chinese bank/mobile operator several years ago - Nothing came out of it.
VSI makes money on the spread in prepaid minutes and the license revenue from the middle east. 80/20 rule holds true, meaning VSI has been unable to make financial inroads on anything but the aforementioned. This is not to say the aforementioned is not a a good business. Call it for what it is, a POSA company. Prepaid Visa/MC is tough business with the likes of 7-11 well entrenched.
Maybe credit cards will be a meaningful business, but not today, and not in 2011. VSI and Mint had a disappointing relationship with the MuchMusic prepaid credit card, thus if VSI can't make a go of a Much card, what does that say.