GM Card Introduces the easyPay Electronic Wallet
17 November 1999
The GM Card to Drive e-Commerce With Introduction of the GM Card easyPay Electronic Wallet
RESTON, Va.--Nov. 17, 1999--strategic partnership for distribution of
electronic wallets on Internet
Household International, , a leading provider of consumer finance, credit card, non-prime auto finance and credit insurance products, in partnership with General Motors Corporation and CyberCash, Inc., , a world leader in e-commerce technologies and services for merchants, today announced that it has introduced the "GM Card easyPay Wallet."
The GM Card branded electronic wallet service for consumers was launched on the GM Card Web site, www.GMCard.com, Tuesday. The GM Card easyPay wallet, powered by CyberCash's Agile Wallet(TM) technology and managed by Household International, will be marketed to a large portion of GM Cardmembers.
"The GM Card is excited to offer our Cardmembers the GM Card easyPay Wallet. The wallet will make it more convenient for our Cardmembers to make secure purchases on the Internet and will lead to greater use of the card online," said Charly Vickery, general manager of GM Credit Card Operations.
"We believe the GM Card easyPay wallet provides a great way to help enhance GM customer loyalty through the use of this exciting Internet-based service," said Greg Zeeman, head of Internet Services for Household International's credit card division.
"The GM Card easyPay wallet represents an important development in the adoption of electronic wallets," said Nancy Goldberg, executive vice president, CyberCash. "As one of the largest and most well respected companies in the world, GM is making the statement that electronic wallets are here to stay and point the way to the future of e-commerce."
The GM Card easyPay Wallet will store a shopper's name, credit card information, shipping details and other pertinent facts that can be called up to make an online purchase quickly and easily with a single click of a computer mouse.
The wallet will be available to GM Cardmembers and interested consumers at www.GMCard.com.
"As part of our continuing effort to expand cardholder services online, we look forward to working with CyberCash on future wallet projects. In our view, CyberCash offers the leading wallet technology in the marketplace today," said Mr. Zeeman.
"Household International is providing the type of thought-leadership that will add immeasurably to the development of e-commerce and will help other large enterprises achieve commercial success on the Internet," said Goldberg.
About CyberCash
CyberCash is a world leader in e-commerce technologies and services, enabling commerce across the entire market spectrum from electronic retailing environments to the Internet. CyberCash provides a complete line of software products and services allowing merchants, billers, financial institutions and consumers to conduct secure transactions and other e-commerce functions using the broadest array of popular payment forms. Credit, debit, purchase cards, cash, checks, smart cards and alternative payment types (e.g., "frequent buyer" or loyalty programs) are all supported by CyberCash payment solutions. More information on CyberCash can be found at www.cybercash.com.
About Household International
Household International, through its subsidiaries, is a leading provider of consumer finance, credit card, non-prime auto finance and credit insurance products in the United States, United Kingdom and Canada. In the United States, Household operates under the two oldest and most widely recognized names in consumer finance - HFC and Beneficial. Household is also one of the nation's largest issuers of private-label and general purpose credit cards, including The GM Card and the AFL-CIO's Union Privilege card. For more information, visit the company's web site at http://www.household.com.
See GM Card fact sheet below
CyberCash, the CyberCash logo and Agile Wallet are trademarks, service marks, registered trademarks or registered service marks of CyberCash, Inc.
THE GM CARD
Fact Sheet
This past September marked The GM Card's seven-year anniversary. Since its launch, a GM Cardmember has been able to earn $500 a year, up to $3,500 over seven years, by using The GM Card with its 5% Earnings on every purchase.
| - | 8 million Cardmembers |
| - | Over 2 million vehicle redemptions |
| - | No annual fee |
| - | 5% Earnings on all purchases is richest in co-branded credit card industry |
| - | Largest co-branded credit card |
| - | The GM Card was launched September 1992 |
| - | First redemption was October 1992 |
| - | Fastest credit card to reach one million accounts |
| - | GM Cardmembers receive 5% Earnings toward the purchase or lease of new GM vehicles with each purchase they make with their GM Card |
| - | Cardmembers can earn up to $500 per year and $3,500 over seven years |
