Off to a great start!

Double-digit growth in turnover for cashless payment

Wien, (PresseBox) - Cashless payment was more popular than ever in the 1st quarter of 2008 according to the quarterly analysis of PayLife Bank, the universal provider for cashless payment.

With increased turnover of 14.4 % at Point of Sale (POS) the Maestro ATM card displayed particularly strong growth in this period. And with 62 m transactions, Austrian Maestro card holders have payed about € 3.2 bn at the blue Bankomat point of sale terminals.

PayLife's credit cards too were used more often in 2008 than in the same period of the previous year. The number of transactions with PayLife credit cards has risen by 10.2 %, increasing turnover by 11.2 % to about € 665 m.

"If one considers general economic development and the forecasts for the 1st quarter in Austria, it is clear that cashless payment has grown disproportionally," is Peter Neubauer, CEO of PayLife, pleased. Neubauer adds, "The acceptance of payment cards is discernibly increasing in importance for cardholders and their lifestyle, as much as for merchants. We think this bears out the services we offer and our wide range."

For several years, the first and fourth quarters have reliably displayed the clearest increases. This is firstly due to winter tourism in Austria and secondly of course to Christmas trade.

For 2008 PayLife forecasts a total increase in turnover for card payments of between 8 - 10%.

PayLife Bank GmbH

PayLife Bank GmbH is THE partner for all card and universal providers 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 8.4 million cards in Austria. Innovation and cost efficiency are emphasized in every aspect of our business. The 12% increase in the volume of cashless payment in the first half year 2008, once again confirms the successful market and customer orientation of PayLife.

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