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COVER
STORY:
Card
Issuers Seek to Ease E-Shopping with Digital Wallets
Despite rosy forecasts for Internet shopping, the road toward
a ubiquitous online payments vehicle hasn't been smooth. Electronic
purses, smart cards, virtual cash and e-money still haven't dislodged
credit card. That's led some institutions to try "digital wallets"
to position themselves as enablers of Web shopping.
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NEWS:
- Top
of the News: With automated clearinghouse volume projected
to swell, a group of 33 financial institutions is studying whether
to build a global system for handling ACH payments.
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Direct
Banking Canada Focus: Royal Bank buys chunk of AOL Canada,
CIBC gets OK for U.S. e-banking, Bank of Montreal grows mbanx.
-
IT Management Bank One goes for an extended service plan
with $600 million in outsourcing pacts.
- Lending
Charter One looks to speed loan application trafficking.
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EXECUTIVE
Q&A:
Mitchell
Caplan, TeleBank president & CEO, gives an in-depth view of the
direct bank's merger with E*Trade and its online success formula.
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