01 December 2015

Bank of America to issue mini payment cards

07 October 2002  |  4752 views  |  0

Bank of America has launched a new patent-pending payment card that is half the size of a regular debit or credit card. The Visa-branded card, which consumers can attach to a keyring, will be made available to other banks under a royalty deal agreed between the West coast bank and Visa.

Measuring 1½" X 2½", the Bank of America mini card will initially be issued as a companion card to existing credit card customers, with a debit card version slated for introduction in the future.

The bank says the new card - which will share the same account number as the user's full-size card - will be attractive to consumers who do not wish to constantly carry wallets and purses.

The bank has retained exclusive rights to issuing the mini card for a one-year period. After this time, Visa member banks will be offered the card under a license from Bank of America in return for royalty payments.

Al Banisch, senior vice president of consumer credit products at Visa USA, applauds the innovation: "With the introduction of the mini card, Bank of America is truly helping make Visa the best way to pay and be paid by giving consumers greater choices in how they use their Visa cards."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

27 September, 2002
25 September, 2002
25 September, 2002
19 September, 2002
16 September, 2002
06 September, 2002

Related company news


Who is commenting?

Top topics

Most viewed Most shared
BBVA buys 29.5% stake in Atom for £45...
8209 views comments | 34 tweets | 42 linkedin
EPC publishes proposals for pan-European i...
7508 views comments | 34 tweets | 32 linkedin
Former Barclays chief forecasts massive jo...
7465 views comments | 30 tweets | 36 linkedin
WeChat launches mobile wallet in South Afr...
6452 views comments | 20 tweets | 16 linkedin
BBVA Bancomer first to roll out dynamic CV...
6092 views comments | 14 tweets | 21 linkedin

Featured job

to $120K base, double OTE, benefits
New York City, NY or Boston, MA (USA)

Find your next job