Usage of electronic bill payment by Internet users has jumped from 10% to 25% over the past year according to a new survey. Directionally, usage tends to be wider among younger consumers according to Atlanta-based Synergistics. One-third of those ages 18 to 34 are current users of electronic bill payment, compared with one in six of those age 65 or older. Usage is also wider among the highly affluent ($100K+), with one-third of that group indicating usage, compared with one-fifth of the lower-income group (<$25K). Synergistics says with 43.6 million Internet-using households in the United States, its results indicate that there are about 11 million households that are using electronic bill payment currently. The survey was based on 1,000 Internet-using households.Details
Credit and debit card charge volume dipped by 3.6% in July to 15.855 billion pounds. Credit card volume alone was was 8.092 billion pound, 4.5% lower than June but 12.0% higher than last year at 8.092 billion pounds. The Credit Card Research Group said summer is traditionally a volatile period for card spending but the monthly fall in spending should not cause undue concern.Details
Reflecting the traditional retail environment, value and discount shopping outlets attracted online buyers in the month of July, revealed the eCommerce Index, from NextCard. The eCommerce Index is the premier metric of monthly online consumer spending and is the only resource that reflects actual consumer e-commerce spending based on online credit card transactions.
“July saw an overall increase in transactions at value sites,” said Scott Lascelles, group vice president of loyalty marketing at NextCard. “HomeShoppingNetwork.com, an extension of the cable shopping channel, performed particularly well. It rose 61 spots to No. 8 in the Top 20 merchants, a gain of 630 percent.”
“Software sites UnBeatableDeals.com, FreeCDSoftware.com and Real.com were top performers in July in terms of overall online transactions and growth. As children head back to school, parents are preparing family computers for the academic year and looking for cheaper, more convenient ways to do it,” said Lascelles.
“Western Union’s online auction payment service, BidPay.com, is gaining in popularity and appeared on the Index for the first time. Consumers love auction sites like EBay, the No. 3 merchant and UBid.com, No. 5. Services that finalize transactions and facilitate payments make auction buying and selling a snap,” said Lascelles. “Western Union has long been a bellwether offline brand and its online service is benefiting from the strong association.”
“July is traditionally a quiet time of year for retail and this is reflected in this month’s eCommerce Transaction Index. History tells us that average basket size will increase moving into the Holiday period,” said Lascelles.
Top 20 Online Merchants in July 2001
The NextCard eCommerce Index is a monthly listing of the top Web sites based on the number of online transactions by more than one million NextCard cardholders.
Rank Change Merchant Consecutive
1. — Amazon.com 27
2. — Half.com 15
3. — EBay.com 27
4. +3 BarnesandNoble.com 27
5. +4 UBid.com 27
6. — Netflix.com 17
7. -2 Priceline.com 18
8. +61 HomeShoppingNetwork.com 1
9. -1 Buy.com 26
10. +1 CDNow.com 27
Rank Change Merchant Consecutive
11. -2 Drugstore.com 26
12. -2 Stamps.com 8
13. +1 BigZoo.com 10
14. +7 Real.com 1
15. -3 1-800-Flowers.com 18
16. -3 VistaPrint.com 2
17. — Classmates.com 2
18. +7 AOL Long Distance 1
19. -3 Keen.com 5
20. — Western Union Bidpay.com 1
eCommerce Transaction Tracker
The NextCard eCommerce Transaction Tracker reflects average individual transaction size at five sample online retailers for 2001.
Merchant 2000 Avg. Jan Feb Mar
Amazon.com $42.31 $37.78 $42.97 $40.13
EBay.com $33.55 $38.31 $35.47 $36.59
Priceline.com $305.15 $265.51 $299.50 $279.26
Half.com $16.40 $16.40 $17.30 $15.88
Buy.com $88.47 $97.54 $101.12 $95.15
Apr May June July
Amazon.com $40.30 $45.41 $42.85 $38.65
EBay.com $39.63 $37.57 $36.61 $35.01
Priceline.com $257.43 $266.65 $271.06 $239.47
Half.com $15.30 $18.94 $19.30 $21.19
Buy.com $99.71 $113.77 $112.53 $102.41
July eCommerce Movers
The NextCard eCommerce Movers(SM) is a monthly listing of the top online merchants that experience the largest percentage change in transaction volume from the previous month.
5 Biggest Movers
1. HomeShoppingNetwork.com 630%
2. UnBeatableDeals.com 164%
3. KBKids.com 81%
4. FreeCDSoftware.com 78%
5. Kiss.com 78%
The NextCard eCommerce Index can be found on the Internet by visiting www.nextcard.com and clicking on the “eCommerce Index” link.
eCommerce Transaction Index
The NextCard eCommerce Transaction Index reflects relative monthly average purchase amounts at ten sample online retailers. It uses the 2000 calendar year average as its base of 100.
Merchants in the Transaction Index include:
To view the graph associated with the eCommerce Transaction Index, please visit www.nextcard.com and click on the “eCommerce Index” link.
About The NextCard eCommerce Index
The NextCard eCommerce Index is a monthly report of the top 20 online merchants and top five movers, average e-commerce basket size based on ten online merchants, and average individual basket size at five specific online merchants. The Index is based on the number of actual, online purchase transactions by approximately one million NextCard cardholders. The NextCard eCommerce Index combines two critical components to accurately reflect online transaction activity: 1) a large cardholder base of active online purchasers and 2) data-mining technology that tracks online credit card transactions. NextCard customers are some of the most sophisticated online consumers and make online purchases approximately five times more often than the average online credit card user. As a result, the NextCard eCommerce Index not only provides valuable information about where online consumers are actually buying, but it also reflects the ability of merchants to convert Web visitors to buyers, and buyers to repeat customers. The Index can be found on the Internet at www.nextcard.com.
NextCard, Inc. ([www.nextcard.com]) is considered the leading issuer of consumer credit on the Internet. Launched in 1997, the Company was the first to offer instant online credit card approval, a choice of customized credit card offers, and exceptional online customer service. NextCard is committed to providing the most robust consumer shopping experience on the Internet and has continued to innovate with its NextCard Concierge(SM) online shopping service, online bill payment services, and comprehensive rewards program.
NextCard is also one of the leading direct marketers on the Internet, operates a network of more than 90,000 online affiliates, and has exclusive card relationships with leading online brands, including Amazon.com and MyPoints.com.
NextCard was named the No. 1 Internet credit card by Gomez. According to the 2001 Brittain Associates “Credit Cards on the Net” study, NextCard leads the online credit card market with a 26 percent share. NextCard was nominated for a 2000 Webby Award in the finance category. NextCard, Inc. issues credit cards through NextBank N.A., a wholly owned subsidiary.
Datacard Group last week announced the relocation and expansion of its London operations.
The Datacard Group London team specializes in producing cutting edge software solutions for multi-application smart card systems. Datacard Group London also serves as the central facility for Datacard Consult p7, an elite team of mathematicians, cryptographers and smart card chip experts. This team is dedicated to evaluating and optimizing the security of high-profile smart card programs worldwide, with special expertise on the unique security and quality considerations surrounding multi-application smart card technology.
Martin Kearsley, Senior Vice President and Managing Director of Datacard’s Software and Solutions Division said, “As smart cards are now emerging as the preferred platform for financial transactions and virtual identity, demand for Datacard solutions has grown significantly. This has led to growth within our team of smart card specialists and support staff in order to meet the demands of the market.”
“Our new, larger facility will give us even greater capacity to meet the current and future demands of high-profile smart card issuers worldwide,” Kearsley added.
About Datacard Group
Datacard Group provides financial institutions, corporations, consumer marketers, governments, schools, healthcare providers, service bureaus and other enterprises with the software, systems and professional services they need to build successful card programs. The company’s solutions portfolio includes the world’s best-selling smart card software and card issuance systems, as well as a complete line of digital identity systems. Consultative services include a smart card chip security laboratory that works with the world’s leading smart card issuers. DataCard Corporation, doing business as Datacard Group, is privately held and based in Minnetonka, Minn. Datacard Group serves customers in more than 200 countries.Details
Corillian Corp and Air2Web announced they have signed an OEM agreement to provide U.S. banks, credit unions and other financial institutions with a fully integrated wireless Internet banking solution.
Corillian will integrate Air2Web’s wireless solution into the Corillian Mobile application that runs on its Voyager Internet banking platform, allowing financial institutions to provide consumers and small businesses with wireless services such as the ability to transfer funds between accounts, check account balances, and review transaction histories via their digital cell phones, pagers and all web-enabled devices, including phones and personal digital assistants (PDAs). The Golden 1 Credit Union, which recently subscribed to Corillian’s Voyager SE platform, will be the first customer of the integrated offering.
“Corillian is one of the most progressive financial software companies in the industry and the move to incorporate our wireless capability is a natural extension of their Internet banking solution,” said Sanjoy Malik, president and CEO of Air2Web. “Their banking and credit union customers can now offer their consumers the convenience of managing their financial accounts anytime, anywhere and from virtually any digital device.”
Corillian Voyager – the operating system for eFinance(TM) – is a high-performance platform that allows for the delivery of financial services to consumers and small businesses over the Internet. Corillian customers include large financial institutions such as Chase Manhattan Bank, Bank One, Wachovia and SunTrust as well as mid-tier financial institutions like Golden 1, Kinecta Credit Union (formerly Hughes Aircraft Employees Federal Credit Union) and Bank of Stockton. This agreement will give financial institutions the choice of deploying the integrated wireless Internet banking solution on-site or in a secure data center maintained by Corillian or Air2Web.
“We focus on helping our financial institution clients to continue leveraging their positions as the trusted financial services providers of choice for consumers and small businesses,” said Alex Hart, president of Corillian. “Wireless access will provide even greater value to the suite of eFinance products we provide and will become a competitive advantage for financial institutions of all sizes.”
Over 27 banks, credit unions and other financial institutions have been wireless-enabled using the Air2Web Platform including Delta Employees Credit Union, Motorola Employees Credit Union-West, Enron Federal Credit Union, NetBank, and ABN AMRO. Additionally, the Mobile Internet Platform has enabled customers such as UPS, DotsConnect, Six Continents Hotels (Crowne Plaza, Holiday Inn), The Weather Channel, and Lexmark International to create, deploy and deliver enterprise applications to their customers and employees using any digital wireless device including Short Message Service (SMS) and web-enabled phones, personal digital devices (PDAs), and pagers.
Air2Web’s Mobile Internet Platform, which can be installed behind the customer’s firewall or hosted by Air2Web, provides the most powerful, flexible, and comprehensive technology for wirelessly enabling corporate data across any carrier, network or device. This includes critical back-end solutions such as EAI, SFA, CRM, ERP and SCM systems. Air2Web’s customers comprise the largest number of enterprises with the highest-volume production applications including UPS, ABN AMRO, Delta Employees Credit Union, Lexmark International, Six Continents Hotels, The Weather Channel, ADC Telecommunications, CBS SportsLine, and other leading finance, travel & hospitality, media & entertainment, health care, retail, and, transportation companies. For more information about Air2Web, please visit [www.air2web.com].
About Corillian Corporation
Based in Oregon, and with international offices in Europe, Asia and Australia, Corillian Corporation is an award-winning provider of eFinance-enabling software for the financial services industry. Built on the Microsoft Windows 2000 platform, Corillian applications support Internet banking, bill delivery and payment, brokerage, customer relationship management, enhanced data aggregation, and small business transactions. Voyager can be deployed on-site at the financial firm or in the state-of-the-art Corillian Data Center. Corillian technology also enables Open Financial Exchange (OFX) access by finance management software packages such as Quicken?, QuickBooks? and Microsoft? Money. For more information about Corillian Corporation, visit our Web site at [www.corillian.com].
Datacard Group announced the relocation and expansion of its London
The Datacard Group London team specializes in producing cutting edge
software solutions for multi-application smart card systems. Datacard Group
London also serves as the central facility for Datacard Consult p7, an
elite team of mathematicians, cryptographers and smart card chip experts.
This team is dedicated to evaluating and optimizing the security of
high-profile smart card programs worldwide, with special expertise on the
unique security and quality considerations surrounding multi-application
smart card technology.
Martin Kearsley, Senior Vice President and Managing Director of
Datacard’s Software and Solutions Division said, “As smart cards are now
emerging as the preferred platform for financial transactions and virtual
identity, demand for Datacard solutions has grown significantly. This has
led to growth within our team of smart card specialists and support staff
in order to meet the demands of the market.”
“Our new, larger facility will give us even greater capacity to meet
the current and future demands of high-profile smart card issuers
worldwide,” Kearsley added.
New contact information for the relocated Datacard London office is as follows:
London EC2V 6DG
Phone: +44 (0) 20 7726 3333
Fax: +44 (0) 20 7726 3334
Datacard Group provides financial institutions, corporations,
consumer marketers, governments, schools, healthcare providers, service
bureaus and other enterprises with the software, systems and professional
services they need to build successful card programs. The company’s
solutions portfolio includes the world’s best-selling smart card software
and card issuance systems, as well as a complete line of digital identity
systems. Consultative services include a smart card chip security
laboratory that works with the world’s leading smart card issuers. DataCard
Corporation, doing business as Datacard Group, is privately held and based
in Minnetonka, Minn. Datacard Group serves customers in more than 200
Official Payments Corporation announced an agreement to provide a new service for citizens of Kane County, IL. The service will allow citizens of Kane County, the northeast portion of Illinois, to pay property taxes by credit card over the Internet or via telephone. The new service is scheduled to go live in 2002.
This service agreement is part of a new business award. When the system goes live later this year, Kane County residents will be able to pay property taxes via Internet by visiting www.officialpayments.com, or via telephone by calling toll-free 1-800-2PAY-TAX. American Express, Discover Card, MasterCard and Visa are the cards accepted by the program. Annually, Kane County collects $500 million in property taxes. Kane County taxes are due on June 14 and September 14.
“Kane County has seen rapid population growth recently, due largely to expansion from the Chicagoland area,” said David J. Rickert, Kane County Treasurer/Collector. “We expect this online tax payment option to make it easier for our growing population to take care of their tax obligations from the convenience of their homes or offices,” Rickert added.
Official Payments has similar agreements with over 900 government entities across the country. The Company has contacts with the Internal Revenue Service, 18 state governments, and the District of Columbia to collect taxes, fees, and fines by credit card over the Internet and telephone.
Official Payments Corp. charges taxpayers a convenience fee for processing these credit card transactions. The fee schedule can be found on the Internet at www.officialpayments.com. For example, a taxpayer who owed Kane County $1,800 in property taxes and charged their taxes would find a total of $1,846 on their credit card statement: $1,800 for the tax bill and $46 for the convenience fee. Taxpayers using credit cards with bonus rewards programs can, depending on their card’s program, earn rewards, points, and cash-back or airline frequent flyer miles for paying their taxes.
About Official Payments Corporation
Official Payments Corporation (Nasdaq: OPAY) is the leading provider of electronic payment options to government entities. The company’s principal business is enabling consumers to pay their government taxes, fees, fines, and utility bills by credit card, via Internet and telephone. The company is unequaled in market penetration and national footprint. Official Payments has agreements to collect and process credit card payments with the Internal Revenue Service, 18 state governments, the District of Columbia, and over 900 county and municipal governments in 47 states across the United States. In 2000, Official Payments collected and processed over $925 million in federal, state and local government payments. Official Payments was founded in the San Francisco Bay area in 1996. Thomas R. Evans, the former President & CEO of the Internet company GeoCities, became Chairman & CEO of Official Payments in the summer of 1999. Mr. Evans brought Official Payments public in November of 1999, raising $80 million in its IPO on the NASDAQ national market. The company’s success in new client acquisition, increasing business with its existing clients and in building consumer awareness can be attributed to the combination of an enormous market opportunity with a highly skilled and experienced management and staff, aggressive sales and marketing, and a core competency in developing and implementing leading-edge technical systems.Details
First Data’s eONE Global subsidiary has signed an agreement to buy Brokat Technologies mobile business unit for approximately $38.4 million. Metavante Corporation has also agreed to purchase Brokat’s U.S.-based Financial Applications unit for $19.5 million. Under terms of the eONE Global deal, eONE will also provide bridge financing of up to $13.7 million to Brokat for standard operating costs through closing, which is expected by November 1. Brokat says the sale of the mobile business unit became necessary due to significant financial investments required to properly advance the business. The Metavante deal is expected to close next month. Germany-based Brokat will refocus its future business on the European e-finance market.Details
CheckFree Corporation announced that Allen L. Shulman will voluntarily leave his post as executive vice president and General Counsel as of December 31, 2001.
Shulman has held his current position since June of 1997. He served additionally as CheckFree’s chief financial officer from August of 1998 to May of 2000, after which current CFO David Mangum assumed that position.
CheckFree has begun an executive search to replace Shulman, and plans to have a new general counsel in place before his departure.
CheckFree President and Chief Operating Officer Pete Sinisgalli said, “Allen’s broad legal expertise has helped guide us through some very complex transactions, including such recent events as our acquisition of BlueGill Technologies and TransPoint, and our strategic alliance with Bank of America. Although we will miss Allen’s contributions, we fully support his future plans.”
About CheckFree (www.checkfree.com)
CheckFree (NASDAQ: CKFR) is the leading provider of financial electronic commerce services and products. Founded in 1981 and celebrating its 20th year in e-commerce, CheckFree is comprised of three divisions: Electronic Commerce, Software, and Investment Services. CheckFree launched the first fully integrated electronic billing and payment solution in 1997. As of June 30, 2001, CheckFree’s Electronic Commerce division enabled more than 5.2 million consumers to receive and pay bills electronically. The company has multi-year contracts with 271 of the nation’s top billers to provide online billing and payment through more than 300 financial services organizations, including banks, brokerage firms, Internet portals and content sites and personal financial management (PFM) software. CheckFree Investment Services provides a broad range of investment management services to thousands of financial institutions nationwide. The division’s clients manage more than 1,150,000 portfolios totaling more than $500 billion in assets.
CheckFree’s Software division provides solutions through three operating units: CheckFree ACH Solutions, CheckFree Financial and Compliance Solutions (CFACS), and CheckFree i-Solutions. CheckFree i-Solutions is the leading provider of e-billing and e-statement software and hosting services for both business-to-consumer and business-to-business applications, with more billers as clients than all of its competitors have combined. CheckFree ACH Solutions provides software and services that are used to process more than two-thirds of the nation’s six billion Automated Clearing House payments, while CFACS provides reconciliation and compliance software and services to more than 400 organizations in the banking, brokerage, utility, retail, insurance and credit card industries, among others.Details
Brokat Technologies AG has announced a
definitive agreement to sell its Mobile Business unit for euro 42 million
(approximately US$38.4 million) to U.S.-based eONE Global, LP, Napa,
California. eONE Global, a subsidiary of First Data Corp. (NYSE: FDC),
Denver, develops and operates emerging payment businesses and related
technologies spanning the business-to-business, government and wireless
eONE Global also will provide bridge financing of up to euro 15 million
(approximately US$13.7 million) to Brokat’s Mobile business unit for standard
operating costs through closing, which is expected by November 1. The planned
transaction is subject to Brokat shareholder approval at a special shareholder
meeting to be held in the near future.
Stefan Roever, currently Brokat’s CEO, will retire from the management
board of Brokat to become CEO of a new eONE Global subsidiary focused on
mobile commerce. In all, eONE Global will assume approximately 400 employees
from Brokat. Michael Janssen remains Brokat’s chief financial officer and
will additionally assume the position of chief executive officer.
The mobile business technology developed by Brokat is very advanced and
internationally recognized. However, the sale of the Mobile Business unit
became necessary due to significant financial investments required to properly
advance the business.
Agreement to Sell U.S. Financial Applications Business
In the future, Brokat will refocus on its core business of e-finance in
Europe. Therefore, Brokat has announced a definitive agreement to sell its
U.S.-based Financial Applications business unit to Metavante Corporation,
Milwaukee, Wisc. Metavante, the technology subsidiary of Marshall & Ilsley
Corporation (NYSE: MI), is a solution leader for financial services providers
in the U.S. Proceeds from this transaction will be approximately
US$19.5 million (approximately euro 21.3 million). As part of the agreement,
Metavante will assume certain liabilities of the financial applications
business unit. Nearly 150 Brokat employees will be offered positions with
Metavante as part of this transaction, which will help to reduce Brokat’s
operating costs. In addition, Brokat will enter into a reseller arrangement
with Metavante that enables Brokat to continue to sell these applications
outside the U.S. market. This sale, which is anticipated to close in
September (subject to regulatory approval), will not affect Brokat’s e-finance
offering in Europe.
Clear Focus on E-Finance
Brokat will refocus its future business on the European e-finance market.
The company headquarters will remain in Stuttgart. After the divestitures,
approximately 280 Brokat employees will be dedicated to the European e-finance
With its offerings, Brokat addresses a wide range of financial service
providers who want to augment and enhance their on-line and multi-channel
financial offerings. For these customers, Brokat will continue to provide
applications that enable electronic banking and brokerage services through all
sales channels, including the Internet, call centers and mobile terminals such
as mobile phones and PDAs.
A market research study performed by Datamonitor in August 2001 predicts
that the number of pan-European Internet banking users will increase from
23 million users at the end of 2000 to more than 75 million customers by the
year 2005. The market for e-banking technology is expected to grow from
US$2.7 billion to US$5 billion.
“The European e-finance market shows a strong demand for high-performance
IT solutions and clear potential for market growth,” explains Michael Janssen,
chief financial officer of Brokat. “Brokat already has a strong base of
e-finance customers in Europe and we look forward to serving this growing
market with a variety of financial services offerings.”
About eONE Global
As the leading source for accelerating payment innovation, eONE Global, LP
() identifies, develops, and operates emerging payment
systems and related technologies spanning the business, government and
consumer markets. Its operating companies include SurePay, LP
(), which creates trusted end-to-end electronic business
payment solutions and services that complete the financial supply chain for
corporations and trading networks on a global scale, as well as govONE
Solutions, LP (http://www.govONEsolutions.com), which enables businesses and
consumers to make government payments electronically. eONE Global is owned by
global e-commerce and payment services leader First Data Corp. (NYSE: FDC) and
iFormation Group, a company founded by The Boston Consulting Group, General
Atlantic Partners, LLC and The Goldman Sachs Group, to build
technology-enabled businesses in partnership with the Global 2000.
About Metavante Corporation
With more than 3,500 clients, including the largest 20 banks in the United
States, Metavante Corporation is a leading financial services enabler,
providing virtually all the technology an organization needs to offer
financial services. Metavante offers customer relationship management,
electronic banking, electronic funds transfer and card solutions, electronic
presentment and payment, financial technology services, private label banking,
and wealth management solutions. Headquartered in Milwaukee, Wis., Metavante
is wholly owned by Marshall & Ilsley Corporation. For more information, see
About Brokat Technologies AG
Brokat Technologies is a global leader in software that enables
user-centric business. Brokat’s product families — e-finance and e-brokerage
applications — are used by over 2000 enterprises worldwide. Information on
Brokat and its products is available at .
buy.com Inc. said Friday that thanks to its founder the company will not go dark on September first. The firm announced Friday the renewal of its merchant services bankcard agreement. Scott Blum, buy.com’s founder, provided the necessary financial support which enabled buy.com to obtain the renewal. Buy.com serves over 4 million customers. Last week the company confirmed that it has until September 1st to locate a new processor after its current processor notified the company of its intention to terminate credit card services. The termination was to be effective July 23, but an extension was negotiated after Buy.com agreed to pay a 1% surcharge on the processing fee, and 5% hold back for a security deposit. The extension will expire August 31st. (CF Library 8/22/01)Details
Homecomings Financial, a provider of lending services to mortgage brokers, has partnered with TNB Card Services of Dallas to issue a Platinum MasterCard tied to a home equity line of credit. The Platinum MasterCard will provide customers with convenient access to their home equity line of credit. TNB will begin issuing the cards in September. Approximately 35,000 accounts will be part of the conversion.
“We are pleased to partner with Homecomings Financial to launch this new product for their customers,” commented Rollie Penn, executive vice president of TNB Card Services. “Customers will enjoy added convenience when using a Platinum MasterCard to access their lines of credit as compared to a check product. The MasterCard solution will deliver reduced costs, increased profits, and will enhance the management information available to Homecomings.”
Homecomings provides superior loan administration services and, as a wholly owned subsidiary of GMAC-RFC, has access to a wide array of mortgage products. According to industry reports, Homecomings Financial ranks as one of the top 25 residential mortgage servicers and top 10 subprime servicers in the United States. The center for loan servicing activity is located in Dallas, TX with servicing sites in San Diego, CA and Blue Bell, PA.
TNB, based in Dallas, provides full-service card processing through an alliance with First Data Corporation. TNB was formed in 1976 by a group of credit union visionaries who joined forces to gain membership in the Visa and MasterCard Associations. Still owned and directed by credit unions, TNB has grown into a company that provides credit and debit card services to hundreds of small to medium sized issuers and their 3 million members nationwide. This exceptional growth can be traced directly to TNB’s focus on personalized service and commitment to finding customized solutions to the challenges credit unions and other independent issuers face. For more information about TNB Card Services visit [www.tnbcard.com].