04 December 2016

Bank of America to issue mini payment cards

07 October 2002  |  4992 views  |  0 Bank of America to issue mini payment cards

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)

Finextra news in your inbox

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

Related stories

Brief: Bank of America implements Siebel eBusiness package

Brief: Bank of America implements Siebel eBusiness package

27 September 2002  |  4114 views  |  0 comments
Taipei Bank issues hybrid contact/contactless chip cards

Taipei Bank issues hybrid contact/contactless chip cards

25 September 2002  |  3817 views  |  0 comments
Vodafone UK moves into online card payments

Vodafone UK moves into online card payments

25 September 2002  |  6044 views  |  0 comments
Visa develops payment spec for contactless smart cards

Visa develops payment spec for contactless smart cards

19 September 2002  |  4744 views  |  0 comments
More Th>n launches build-your-own credit card

More Th>n launches build-your-own credit card

16 September 2002  |  3310 views  |  0 comments
BMO issues build-your-own credit cards

BMO issues build-your-own credit cards

06 September 2002  |  6096 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comFind out moreFind out more

Top topics

Most viewed Most shared
Royal Mint to issue digital goldRoyal Mint to issue digital gold
6514 views comments | 23 tweets | 21 linkedin
UK challenger bank Masthaven opens for businessUK challenger bank Masthaven opens for bus...
5645 views comments | 15 tweets | 13 linkedin
ING pulls plug on P2P payments app TwypING pulls plug on P2P payments app Twyp
5567 views comments | 16 tweets | 15 linkedin
Bank CEOs fret about ROI as startups drive IT arms raceBank CEOs fret about ROI as startups drive...
5556 views comments | 16 tweets | 20 linkedin
R3 and Calypso to develop blockchain trade confirmation systemR3 and Calypso to develop blockchain trade...
5536 views comments | 13 tweets | 12 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job