The $50 for the store goes to the account that registers each reader. It doesn't require a credit card to use, so it should
be as usable in the Republic of Elbonia
, as in New York City.
It has to be claimed (by making an account and registering the device) by 12/31/06, and must be used by 01/31/07.
igorsk dug up
a direct link
to the conditions.