From online banking to online buying
From online banking to online buying
November 30, 1999
CHICAGO (November 30, 1999) – BANK ONE CORPORATION, one of the nation’s leading providers of online financial services, and e-Visa, the Internet unit of Visa U.S.A., today unveiled the bankonewallet, a new service designed to save time for customers when they shop on the Internet.
The new service, available through www.bankone.com/bankonewallet, streamlines the online shopping experience by storing account numbers, billing and shipping information in one “virtual wallet,” as well as transferring payment instructions to a point of sale with a few simple clicks. This eliminates the need to key in account numbers and payment and shipping instructions for every online purchase. In addition, the same bankonewallet can be used on different personal computers at home, at work and on the road.
“The bankonewallet is another innovation re-confirming the status of bankone.com as an online financial supersite," said Bruce A. Luecke, executive vice president of the Bank One Retail Group. “Bank One is already recognized as being a leader in popularizing online banking. Now we’re helping popularize online buying, too.”
The launch of the bankonewallet comes at the beginning of this year’s holiday shopping season, with online shoppers expected to spend more than twice as much in 1999 as they did in 1998. Yet, despite the growth, consumer surveys have indicated that consumers think online shopping could be made even more convenient.
For example, according to a survey by Jupiter Communications earlier this year, 27 percent of online shoppers said that at one time or another, they abandoned an online shopping cart because they did not want to fill out arduous order forms.
The bankonewallet simplifies online shopping by allowing consumers to manage multiple payment cards and shipping addresses; track online purchases; store user IDs and passwords; provide links to online merchants; offer product and merchant search capabilities; and promote special offers from selected online merchants.
Simple to use, widely accepted, secure The bankonewallet has been designed to work with THE ONE Card – the popular Bank One Visa check card – as well as any Visa payment card. Customers can use the bankonewallet with THE ONE Card to conveniently pay for all their online purchases directly from their Bank One checking account.
There is no service charge to enroll in the bankonewallet. It is a free service provided to Bank One customers. It is currently accessible through www.bankone.com/bankonewallet, to users of any of the following software packages: AOL 4.0, Microsoft Internet Explorer 4.0 (or higher) or Netscape 4.0 (or higher). (It is not accessible with a MacIntosh operating system.) Already, more than 300 online merchants will accept the bankonewallet for online purchases. These online merchants include many of the leading merchants in the country, for example: Bloomingdale’s, Brooks Brothers, Designer Outlet, Eddie Bauer, GAP, J.C. Penney, Levi’s, Victoria’s Secret, eBay, FTD, Staples, eToys and Toys ‘R’ Us.
Shopping online through the bankonewallet is highly secure due to the use of an advanced technology called Secure Sockets Layer (SSL) with up to 128-bit software technology that encrypts information transmitted online.
“Consumers trust banks and Visa for their financial needs. The bankonewallet makes online shopping convenient, fun and secure with hundreds of online merchants,” said Steve Ryan, senior vice president for technology at e-Visa.
A history of online innovations
The new bankonewallet continues a tradition of Bank One online innovations through www.bankone.com. In November 1998, Bank One signed an exclusive agreement with leading Internet portal Excite, Inc., to create a full-service financial center available to Excite users. In January 1999, Bank One introduced the “Bank One 50/50 home equity loan,” a service to provide online approvals of home equity loan applications in less than 50 seconds in all 50 states. In April 1999, Bank One became the first bank to offer online bill delivery through Integrion Financial Network.
BANK ONE CORPORATION (NYSE:ONE), headquartered in Chicago, is the nation's fourth largest bank holding company, with assets of more than $260 billion. It is the third largest bank lender to small businesses, one of the top 25 managers of mutual funds and a major national automotive lender. Bank One operates more than 1,900 banking centers and a nationwide network of ATMs. e-Visa, a division of Visa U.S.A., was created to accelerate mass adoption of electronic commerce and to position Visa as the currency of the e-economy. Visa U.S.A. is the leading payment brand and the largest consumer payment system in the U.S. Last year, U.S. bank-issued Visa cards accounted for some $610 billion in transactions, including those online and at the point of sale. Visa's more than 600 million cards are accepted at more than 17 million worldwide locations, including more than 500,000 ATMs in the Visa/PLUS Global ATM Network. Visa's Internet address is www.visa.com.
The new service, available through www.bankone.com/bankonewallet, streamlines the online shopping experience by storing account numbers, billing and shipping information in one “virtual wallet,” as well as transferring payment instructions to a point of sale with a few simple clicks. This eliminates the need to key in account numbers and payment and shipping instructions for every online purchase. In addition, the same bankonewallet can be used on different personal computers at home, at work and on the road.
“The bankonewallet is another innovation re-confirming the status of bankone.com as an online financial supersite," said Bruce A. Luecke, executive vice president of the Bank One Retail Group. “Bank One is already recognized as being a leader in popularizing online banking. Now we’re helping popularize online buying, too.”
The launch of the bankonewallet comes at the beginning of this year’s holiday shopping season, with online shoppers expected to spend more than twice as much in 1999 as they did in 1998. Yet, despite the growth, consumer surveys have indicated that consumers think online shopping could be made even more convenient.
For example, according to a survey by Jupiter Communications earlier this year, 27 percent of online shoppers said that at one time or another, they abandoned an online shopping cart because they did not want to fill out arduous order forms.
The bankonewallet simplifies online shopping by allowing consumers to manage multiple payment cards and shipping addresses; track online purchases; store user IDs and passwords; provide links to online merchants; offer product and merchant search capabilities; and promote special offers from selected online merchants.
Simple to use, widely accepted, secure The bankonewallet has been designed to work with THE ONE Card – the popular Bank One Visa check card – as well as any Visa payment card. Customers can use the bankonewallet with THE ONE Card to conveniently pay for all their online purchases directly from their Bank One checking account.
There is no service charge to enroll in the bankonewallet. It is a free service provided to Bank One customers. It is currently accessible through www.bankone.com/bankonewallet, to users of any of the following software packages: AOL 4.0, Microsoft Internet Explorer 4.0 (or higher) or Netscape 4.0 (or higher). (It is not accessible with a MacIntosh operating system.) Already, more than 300 online merchants will accept the bankonewallet for online purchases. These online merchants include many of the leading merchants in the country, for example: Bloomingdale’s, Brooks Brothers, Designer Outlet, Eddie Bauer, GAP, J.C. Penney, Levi’s, Victoria’s Secret, eBay, FTD, Staples, eToys and Toys ‘R’ Us.
Shopping online through the bankonewallet is highly secure due to the use of an advanced technology called Secure Sockets Layer (SSL) with up to 128-bit software technology that encrypts information transmitted online.
“Consumers trust banks and Visa for their financial needs. The bankonewallet makes online shopping convenient, fun and secure with hundreds of online merchants,” said Steve Ryan, senior vice president for technology at e-Visa.
A history of online innovations
The new bankonewallet continues a tradition of Bank One online innovations through www.bankone.com. In November 1998, Bank One signed an exclusive agreement with leading Internet portal Excite, Inc., to create a full-service financial center available to Excite users. In January 1999, Bank One introduced the “Bank One 50/50 home equity loan,” a service to provide online approvals of home equity loan applications in less than 50 seconds in all 50 states. In April 1999, Bank One became the first bank to offer online bill delivery through Integrion Financial Network.
BANK ONE CORPORATION (NYSE:ONE), headquartered in Chicago, is the nation's fourth largest bank holding company, with assets of more than $260 billion. It is the third largest bank lender to small businesses, one of the top 25 managers of mutual funds and a major national automotive lender. Bank One operates more than 1,900 banking centers and a nationwide network of ATMs. e-Visa, a division of Visa U.S.A., was created to accelerate mass adoption of electronic commerce and to position Visa as the currency of the e-economy. Visa U.S.A. is the leading payment brand and the largest consumer payment system in the U.S. Last year, U.S. bank-issued Visa cards accounted for some $610 billion in transactions, including those online and at the point of sale. Visa's more than 600 million cards are accepted at more than 17 million worldwide locations, including more than 500,000 ATMs in the Visa/PLUS Global ATM Network. Visa's Internet address is www.visa.com.