Brussels-based KBC Bank At least one of Belgium�s Big Four banks -- smatcard stuff3

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Date Posted: 10:33:08 02/11/03 Tue
Author: little less than 500,000 euros (US$494,000)this year on the bank�s 1.2 million Proton cardholders
Subject: Brussels-based KBC Bank At least one of Belgium�s Big Four banks

SMART E-PURSES ARE PROFITABLE
At least one of Belgium�s Big Four banks expects to turn a small profit this year with its Proton electronic purse scheme, perhaps the first time in history a bank-issued retail purse has ended the year in the black. The other three big banks likely will also end the year profitably with their purse cards, a bank executive says. Executives of Brussels-based KBC Bank tell Card Technology the bank will make a little less than 500,000 euros (US$494,000) this year on the bank�s 1.2 million Proton cardholders. Not only are cardholders finding more reasons to use their cards, they are also finding more places at which to use them. KBC earns its money from the e-purse on the 6- to 8-euros annual fee it charges cardholders as well as interest it makes on the float, that is, the unspent funds loaded onto cards.

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Replies:

Belgian bank-owned processor Banksys acquires the transactionscharging a roughly .7% fee -- from merchants on the amount of each purchase.The processor is also believed to be finally making money with Proton., 10:35:15 02/11/03 Tue
also piloted in Finland. (NT) -- when starting the scheme was discounted to kick it off, 21:57:47 02/15/03 Sat
- OF GREAT SIGNIFICANCE IS SWEDEN HENCE THE ABBA THEME (NT) -- FINLAND--ALSO RUSSIA COMING INTO IT--ALL PROTON, 22:27:21 02/15/03 Sat

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