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New Media News Every Morning

100 million consumers to bank online by 2011

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Money is now digital, so why not your bank? Financial institutions large and small are rushing to open virtual branches, offering higher savings yields and lower interest rates to entice consumers.

And the competition is heating up, according to eMarketer‘s report “Banking and Bill Paying Online: Chasing Those Digital Dollars.”

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But growth in the US online banking population is slowing. eMarketer estimates the number of consumers who have accessed their bank account online at least once in the past six months will grow 9.5% this year, to nearly 80 million, with growth falling to 6% through 2011, when 48% of US Internet users will conduct some form of banking online. [Read more…]

Originally posted on June 5, 2007 @ 2:16 pm

TripAdvisor launches localized sites for France and Germany

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trip2.jpg Showing its commitment to the European market, travel community Web site TripAdvisor has gain foothold into the French and German travel markets with its new sites TripAdvisor.fr and TripAdvisor.de

“TripAdvisor.de and .fr mark a major milestone in our global deployment. Travel is a global pastime and TripAdvisor represents the views, opinions and interests of travelers around the world, and we recognise that there are also important differences between nationalities. Travel planning and sharing information is one of the top uses of the web in both France and Germany and this initiative will provide those travelers with both unparalleled global access and a local focus,” said TripAdvisor Europe managing director Marc Charron.

Approximately two million travelers from France and Germany already visit tripadvisor.com monthly, indicating interest in TripAdvisor’s unique offering. France and Germany are an integral part of the TripAdvisor global community, and the company expects to see rapid growth in these markets, with the debut of localized sites.

Originally posted on May 29, 2007 @ 5:18 am

Best Buy sued for deceiving customers

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bestbuy.jpgThe State of Connecticut is taking Best Buy to court, accusing it of tricking customers by coming up with two-identical-looking web sites in its stores. The only difference is that one site had higher prices.

“The company commonly kept two sets of prices – one on its Internet site and an often higher set on its in-store, look-alike, available on kiosks,” Blumenthal said. “The in-store site was an Internet look-alike, commonly with higher prices, which were charged to consumers. Best Buy broke its promise to give the best price. Best Buy treated its customers like suckers, not patrons to be prized. Best Buy gave consumers the worst deal: a bait-and-switch-plus scheme luring consumers into stores with promised online discounts, only to charge higher in-store prices.” Connecticut Attorney General Richard Blumenthal said.

The Connecticut lawsuit asks that Best Buy be ordered “to pay restitution to consumers who purchased products at a higher price because they were deceived by Best Buy’s misrepresentations” in addition to paying civil penalties.

Originally posted on May 25, 2007 @ 7:30 am

CBS have indeed bought Wallstrip

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We reported on this previously, and now it’s official: CBS have bought online stock show Wallstrip. The host Lindsay Campbell will stay on, as will the producers Adam Elend and Jeff Marks, working under the CBSNews.com banner. NewTeeVee’s got more, and founder Howard Lindzon have a post up as well. No amount have been announced, although the $5m previously mentioned have been reported wrong.

Be sure to watch the announcement video, showing of the Wallstrip style of course…

Originally posted on May 22, 2007 @ 4:19 am

GlobalTec launches first online TV network dedicated to stock traders

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wtv.jpgDallas-based GlobalTec Solutions is joining the online TV revolution by launching the first online TV network featuring 12 hours of live, in-the-market programming every trading day.
 
Dubbed as Wizetrade TV, the subscription-based online TV network allows viewers to call or e-mail their stock picks to have them analyzed on-air by professional traders-turned-teachers, several of whom began trading in the pits of the Chicago Mercantile Exchange and the Chicago Board of Trade.  The network will also serve as a public platform for traders looking to swap trading strategies on-air with fellow traders.
 
“Our aim with Wizetrade TV is to take the online trading experience to a different level,” said John Dankovchik, president of GlobalTec.  “Where other traditional financial networks offer broad coverage of the markets, Wizetrade TV focuses exclusively on the technical analysis of the trades our viewers are currently engaged in, or are considering engaging into.  As investors continue to rely more heavily on their PC for their trades as opposed to the traditional bricks and mortar of a broker, it only seemed natural to create this type of programming to assist our viewers.”

Originally posted on May 21, 2007 @ 3:00 pm