ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release August 29, 2003 #03-37
E-mail: [email protected]

ACB MEMBER COMMUNITY BANKS EXPRESS MOST INTEREST IN DEBIT CARD, ONLINE BANKING PROGRAMS

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WASHINGTON, D.C. — A survey by America’s Community Bankers shows that most members are making a priority of establishing or expanding debit card and online banking programs over the next three years. Of medium interest is establishing ATM-only cards and electronic bill payment services, followed by credit card, merchant services and stored value card programs. One hundred and sixty-four members responded to the survey.

“At the end of 2002, Visa reported that debit card transactions surpassed credit card transactions,” said Janice McDonald, manager of card services for ACB Business Partners, Inc., ACB’s for-profit subsidiary. “The high level of interest in debit cards by our membership confirms that community bankers are aware of this trend and are responding to the needs of their customers.”

The survey showed that, among debit card issuers, members were about equally split on offering signature-based debit cards and PIN-based cards. “Most respondents said they were aware that the settlement in the Wal-Mart/Visa-MasterCard lawsuit will likely result in reduced debit card revenues,” said McDonald. “As a result, I anticipate there will be an increased interest in rewards programs and enhancements added to debit card programs to encourage card usage and offset the reduction in revenues.”

ACB offers several options to serve community banks’ card needs. The ACB-Certegy Direct Bankcard Alliance provides members with full-service Visa and MasterCard credit card, debit card and merchant services. The ACB-InfiCorp Agent Bankcard Alliance program provides members with a risk-free credit card issuing program.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

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