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To: donkeyman who wrote (1999)	7/13/1999 8:50:00 AM
From: Jeffrey D	of 3519

Freeserve to offer Web credit card. Story says Freeserve has 1.32M "active" users. Jeff << Posted 13/07/99 12:47pm by Lucy Sherriff Freeserve debuts Web credit card Dixon's ISP, Freeserve has teamed up with HFC Bank, a subsidiary of Household International, to launch an Internet credit card. HFC is the money behind the Goldfish and GM credit cards. All transactions can be made online, from the initial application to paying bills and checking account details. Interest rates have not been made public yet, but Dixons says that they will be competitive. The deal between Freeserve and HFC is for a minimum of five years and specifies financial targets that must be met. Freeserve will get £5 million plus interest payable over the term of the contract, bounties for new accounts as well as commissions and profit share from each transaction. Freeserve chief executive, John Pluthero, said: "People now buy an ever-increasing range of goods and services over the Internet and are keen to have a credit card account where all purchases, payments and queries can be dealt with online. This agreement will develop another valuable revenue stream for Freeserve." As of 26 June, Freeserve said it had 1.32 million active registered users. ® >>

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