Payment Card News

Little Cards

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The payment card business is shrinking! Bank of America announced this week it is phasing in a mini card version of its “VISA Check Card.” Last October, BofA introduced the mini credit card to its credit card customers. The BofA mini card is about half the size of a regular “Check Card,” and is designed to be attached to a key chain. The card can only be used with swipe terminals, not ATMs. BofA says it will issue the new mini “Check Cards” to more than 11 million of its 17 million customers. Later this year, other VISA banks may issue the tiny card as BofA licenses its mini card patent to other issuers. The Bank of America mini card is safeguarded by the bank’s “Total Security Protection” package, featuring zero liability and a guaranteed credit by the end of the next business day in the event of unauthorized card transactions (claim subject to verification and dollar limit). In addition, the “Photo Security” feature of the “Total Security Protection” package puts the cardholder’s picture on the front of the card. For more information visit: www.bankofamerica.com.

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