Word: bankamericard
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...Walnut Creek, Calif., can charge at least three dozen city fees, from business licenses to civic theater tickets. Last week the last word in the credit-card way of life was announced: in ten states, U.S. income taxes up to $500 can now be charged on either a BankAmericard or Master Charge card where banks are willing to cooperate...
...main challenge will be continuing the bank's phenomenal expansion. During Peterson's six-year tenure, assets have risen from $14.7 billion to more than $25 billion, and the number of foreign branches has expanded from 44 in 1966 to 96 now. Four years ago the BankAmericard operation counted 1,300,000 cardholders in California; it now has 27.5 million cardholders in 48 states and 40 foreign countries, and is adding a million new customers a month...
...tuition or room and board at Ohio State before the year is out. The idea is likely to spread. It has already taken hold in California, where students at Stanford, San Jose State and throughout the University of California extension system have charged their education on the BankAmericard...
...minimize start-up headaches, banks now tend to join one of two major groups. The largest group is run by San Francisco's Bank of America. Its decade-old BankAmericard, available in 44 states, is interchangeable with Britain's Barclaycard, Canada's Chargex and Japan's Sumitomo. The other is Interbank Card Association, organized by eight banks in 1967 and now operating in 41 states; its card is also recognized in Europe. BankAmericard insists on certain credit standards, but Interbank lets members decide "creditworthiness" themselves...
Bank charge-card schemes are also going international, enabling holders to use their cards when traveling abroad. Interbank, with Banco Nacional de Mexico S.A. already in the fold, hopes soon to sign up banks in Japan and Western Europe as well. Not to be outdone, BankAmericard has gone into a joint credit-card venture with Barclays Bank Ltd. in Britain, Sumitomo Bank in Japan and four banks in Canada. BankAmericard is already interchangeable with Barclaycard and Sumitomo card, and next month the Canadian banks will join the system with their own Chargex card. So that merchants in the four countries...