Payment Card News

The WebCard VISA

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Block Financial, an H & R Block company, announced today the launch of the Web Card Visa, a new credit card product created specifically for Internet and World Wide Web users. WebCard gives cardholders real-time access to their account information, 24 ho urs a day, seven days a week, via the Internet.

“We are Block Financial are very pleased to extend our product offerings to the online community in conjunction with Visa and Columbus Bank and Trust Company,” stated William P. Anderson, president of Block Financial Corporation. “The WebCard targets Int ernet users and subscribers of other commercial services such as American Online and Prodigy through their Web browsers. Block Financial has utilized Visa as the exclusive brand for this program because of Visa’s leadership position in technology related services,” he said.

“Cardholders can monitor their current account activity or review data as far back as 12 months and even check to see if their payment was received,” stated G. Cotter Cunningham, vice president, Block Financial Corporation. Block Financial has addressed security concerns by designing the online account review feature so that actual account numbers will never appear online. To make managing your finances easier, account information can be imported directly into the most popular brands of word processing, spreadsheet, database or personal finance software, including Quicken. WebCard is issued by Columbus Bank and Trust and Trust Company, an affiliate of Synovus Financial Corp. Located in Columbus, Georgia, and is offered exclusively to Internet and Worl d Wide Web users at a competitive interest rate and no annual fee.

The WebCard is the first in a series of co-branded financial products slated for introduction by Block Financial in 1996. These include online bill payment and checking. For more information about the WebCard, consumers can contact the Block Financial I nternet home page at http://www.conductor.com.

The introduction of the WebCard Visa will be supported by direct mail, inbound and outbound telemarketing and advertising.

Block Financial currently offers the CompuServe Visa, a credit card exclusively offered to subscribers of the CompuServe online service. More than 100,000 CompuServe subscribers currently carry the CompuServe Visa card.

H & R Block is a diversified services company and the world’s leader in tax preparation and online information services. H & R Block Tax Services handled almost one in every seven returns filed with the IRS in 1995, serving 17.1 million taxpayers in more than 9,500 offices worldwide. CompuServe operates the most comprehensive online network in the world, providing services to nearly 900 corporate accounts and more than four million members in 140 countries.

Headquartered in the San Francisco Bay Area, Visa is the world’s largest consumer payment system. It pays a pivotal role in developing and implementing new technologies that benefit its 19,000 member financial institutions and their cardholders, business , governments and the global economy. Visa’s 442 million cards are accepted by more than 12 million merchants worldwide. Visa/Plus is the largest global ATM Network.

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