CMU Student One Of Entrepreneur's Top Five

Consumers who carry multiple credit, debit and rewards cards may jump at the chance to have an easier and more secure way to shop. This is the thinking behind Central Michigan University senior Daniel Pearson's business idea that has landed him in the running for Entrepreneur magazine's College Entrepreneur of 2010.

Pearson, of Waterford Township, submitted his business idea for The Hybrid Card Co. to the College Entrepreneur of 2010 contest in May. The Hybrid Card Co. would integrate consumers' credit, debit and rewards cards into one account, which would be easier, more convenient and would offer more secure payment options. Consumers would swipe the Hybrid Card at a register or enter it online, and the account would offer payment recommendations based on interest rates, rewards bonuses and other variables, which would save money with every transaction. Smart card technology would be used in order to protect their sensitive card data and help guard them from identity fraud.

In 2008, Pearson created Pearson's of Oakland County, a landscaping business, and recently sold it. The 21-year-old also is the founder and president of CMU's chapter of collegiate entrepreneurs.

As a way to set a new precedent for corporate responsibility, Pearson would donate 10 percent of all transaction fees from The Hybrid Card Co. toward causes such as those that would help consumers learn responsible credit habits, corporate responsibility and reducing corporate waste. Pearson is already known as an entrepreneur who gives back through establishing free lawn mowing services through his former landscaping business for people in Oakland County who had lost their jobs.

"This is incredibly humbling to be a finalist in this contest," said Pearson. "Money is not a huge thing for me, so it is the networking opportunities that are very exciting. It's every entrepreneur's dream."

The winner of the College Entrepreneur of 2010 contest will receive $5,000 in seed money for starting a business based on their business concept, a $500 gift certificate for products and services at any UPS Store franchised location, a selection of Entrepreneur Press books, and a three-year subscription to Entrepreneur magazine. They also will be profiled in the January 2011 and December 2011 issues of Entrepreneur magazine and will be recognized at an awards luncheon and ceremony.

Pearson's profile can be found at http://www.entrepreneur.com/e2010/vote/college.php#261.

Online voting takes place through Sept. 10 and winners will be announced in the January 2011 issue of Entrepreneur magazine and online at http://www.entrepreneur.com/e2010college in late December.

To view a video of Pearson's business idea, visit http://141.209.15.193/CID/misc/hybrid_card/main.html.