Payment by Card Still on the Rise
PayLife Reports Marked Increase
"We can look back on 2008 with complete satisfaction. PayLife achieved strong growth in credit card sales with an increase of approximately 6%. We were able to increase the number of prepaid products sold by 55% and today have a total of approximately 60,000 PayLife Prepaid Cards," says a very pleased Peter Neubauer, CEO of PayLife.
"We have achieved much with the terminals as well. 16,000 NEXT GENERATION PayLife Bankomat POS terminals have already been put into operation, and each day countless more are installed." To date, PayLife has introduced 106,000 POS terminals to the market, 16,000 of which are NEXT GENERATION PayLife Bankomat POS terminals, 15,000 at vending machines and 75,000 of which were Bankomat POS terminals of mature technologie. The latter will be exchanged step by step to NEXT GENERATION PayLife Bankomat POS terminals until end of 2010, to conform to the Single Euro Payments Area (SEPA).
Increase in Transactions and Turnover
There were once again significant increases in the products serviced by PayLife, both in terms of the number of transactions (Trx) as well as the turnover:
Credit cards issued and serviced by PayLife
- MasterCard & Visa Transactions + 10% Turnover + 12.2% = 3 billions euros
- Maestro Transactions + 9.9% Turnover + 7.1% = 3.5 billions euros
- Cash Withdrawals Transactions + 5.5% Turnover + 5.3% = 17,8 billions euros
The amount of PayLife credit cards shows again a clear increase. By end of 2008 780,000 PayLife credit cards are in circulation, a plus of 5.7%.
Important New Contracts in 2008
Since June 2008, the guests in all the McDonald's restaurants in Salzburg (5), Innsbruck (4) and Klagenfurt (4) as well as in 6 restaurants in Vienna, are now able to pay for their orders at the cash register using cashless, and therefore electronic, payment. By following this international trend, McDonald's once again emphasizes their role as an innovator in the food service industry. A further success for PayLife in the past year was the conclusion of an acceptance contract for credit cards at Spar and Eurospar. As market leader PayLife ever and successfully makes an effort for increasing the acceptance points for cashless payment in Austria, and to enlarge the convenience for cardholders.
PayLife International Business
In addition to the PayLife customers in Slovenia, 2008 also brought activity in the Czech Republic, Hungary and Slovakia. Plans have been made for 2009 to enter the market in further Central European countries.
Outlook for 2009
Due to the negative economic prognoses, it is very difficult to predict the consumer behavior for the coming year. Nevertheless, the trend towards cashless payment will continue. According to all the market research studies, the consumer will turn to plastic money even more often in the future, not least because of the longer payment time offered by paying with PayLife credit cards. PayLife therefore expects an increase in transactions with payment cards of 7 to 9% for 2009.
About PayLife Bank GmbH
PayLife Bank GmbH is THE partner for all cards and universal provider of cashless payment in Austria. With Maestro, Quick, MasterCard, VISA, JCB and CUP and the new Bankomat POS terminals, PayLife offers everything from a single source. PayLife services approximately 106,600 merchants and 9 million cards in Austria. Innovation and cost efficiency are emphasized in every aspect of our business. With a 7.9 % increase in the volume of cashless payments, 2008 once again confirmed the successful market and customer orientation of PayLife.