January 19, 2001, 12:00 AM

New Wallets For Old

Don Davis

Editor in Chief

New Wallets For Old (November 30, 1999)

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New Wallets For Old

(November 30, 1999)-- Consumers may soon be throwing away their old leather wallets for the more updated digital versions, which streamline the payment and checkout process during online shopping. Several leading banks have partnered with e-Visa, the Internet unit of payment giant (www.visa.com) Visa U.S.A. to launch an aggressive consumer education campaign demonstrating the convenience of using digital wallets for online shopping.
     E-Visa and the participating banks such as (www.bankone.com) Bank One, Capital One, Providian Financial's (www.aria.com) Aria.com and (www.usbank.com) U.S. Bank, expect to drive wallet usage and estimate that 1 million consumers will sign up for the free bank-offered service. The wallet campaign is geared to create cardholder awareness through national print advertising, bank statement inserts and ongoing consumer education initiatives.
     Visa also is working with digital wallet vendors such as (www.cybercash.com) CyberCash Inc., to develop unique "server-side" wallet programs for several of the participating banks. Server-side wallets are portable and allow online shoppers the flexibility to use the same wallet on different PCs at home, work or on the road.

Copyright © 1999. This content is the property of Faulkner & Gray.

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