First Data Direct Banking Unveils NetPrecision Card Services: Transactional Web Sites for Credit-Card Issuers

Business Wire, Sept 16, 1998

LOS ANGELES--(BUSINESS WIRE)--Sept. 16, 1998--

Card Services Combines Internet Sales Channel

With Real-Time Access to First Data Credit-Card Info

and Speedy Deployment of Functional Web Sites

First Data Direct Banking Wednesday introduced a transactional Internet service that enables credit-card issuers to improve customer service while reducing costs.

NetPrecision Card Services also brings the unprecedented speed-to-market of its trademarked NetSpeed implementation process, which eliminates much of the worry, guesswork and uncertainties so often associated with Web-site development.

NetPrecision Card Services offers clients the only real-time Internet access to their First Data credit-card account information. First Data Resources maintains more than 186 million credit-card accounts.

The Card Services product delivers the same financial-transaction capabilities as First Data Direct Banking's industry-leading NetPrecision Home Banking technology, which delivers fully functional, highly secure Web sites to the financial-services industry.

"The Internet is the financial-services delivery channel of the coming millennium," said Randy Kahn, president of First Data Direct Banking, in making the announcement. "Specifically, it offers issuers of all sizes a unique opportunity to deliver a higher level of service to cardholders while actually reducing operational costs."

Direct Banking has already delivered Card Services Web sites for NextCard, The First True Internet Visa; Advanta Business Cards, one of the largest commercial card issuers in the United States; and Chevy Chase Bank's credit-card division (which was recently acquired by First USA). The product is now available for immediate delivery to credit-card issuers nationwide.

Transactional services offered as part of the NetPrecision Card Services program include online applications and enrollment, access to account balances, the ability to view statement data and download it to leading personal financial managers (PFMs) such as Microsoft Money and Quicken, and the ability to view Bonus/Award program information.

The service also offers an automated customer-service system, which includes a secure, private e-mail system through which cardholders can ask questions or report issues to customer-service personnel, and monitor the status of issues that have been submitted. The basic program can be customized based on the needs of the card issuer.

These functions, available to the cardholder 24 hours a day, seven days a week through the Internet, can reduce customer-service expenses by allowing cardholders to access and manage many of their account functions without the intervention of a customer-service representative.

The integration of online bill presentment and payment in the product's next release will help eliminate the cost of producing and mailing paper statements as well.

While improved customer service and cost reduction are compelling reasons for card issuers to offer the NetPrecision Card services program, the Internet is increasingly delivering unmatched marketing and customer-acquisition opportunities to card issuers as well.

"First Data Direct Banking is building credit-card sites that will provide strategic value to our clients now and in the future," Kahn said. "The technology to take advantage of this most dynamic of all communications channels exists today." About First Data Direct Banking

First Data Direct Banking builds and hosts customized Internet financial-service solutions for banks, credit unions, savings and loans, nonbank credit-card issuers and brokerage houses of all sizes.

Using the NetSpeed process as a template, financial institutions can have fully functional, branded Web sites up and running in just 30 business days with the NetPrecision system. First Data Direct Banking ties leading-edge online financial-services partnerships and template, custom-built or existing Web sites into transaction processing provided by electronic-payments-processing leader First Data Corp.

Direct Banking can be found on the World Wide Web at www.netprecision.com.

Hackensack, N.J.-based First Data Corp. (NYSE:FDC) is a global leader in payment systems, electronic commerce and information- management products and services. First Data and its principal operating units process the information that allows millions of consumers to pay for goods and services by credit, debit or smart card at the point of sale or over the Internet; by check; or by wire money.

For further information about First Data, visit the company on the Internet at www.firstdatacorp.com.