In its second-largest acquisition, Amazon buys the company for $970 million.
Card Express Inc. has launched the CardEx MasterCard iCard, a "virtual card" that works like a conventional debit card, and that can be used at any online or offline store that accepts MasterCard. The iCard can be purchased online and sent by e-mail as a gift. It contains no personal credit information, so privacy is protected online, says the Irvine, Calif.-based company. The cards can be purchased in denominations from $25 to $250. When the recipient activates the card online, CardEx provides a MasterCard debit card number. Funds can be added at any time. Card activity can be monitored at the CardEx Web site, it says, and an online account summary enables users to check balances, transaction history and account activity at any time. As an option, a plastic iCard can be obtained at a nominal fee for use in brick and mortar stores, the company says.