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Article: Banks go back to school with campus card partners.(Card Trends)
- Article from:
- Cards & Payments
- Article date:
- October 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Not long ago, universities could impress their students by enabling campus identification cards to pay for a handful of on-campus products and services. Students could swipe it in the dining room to pay for lunch, at the college bookstore to buy textbooks and at dorm vending machines for late-night snacks.
Today, such basic functions seem old school, as an estimated 2,500 out of 4,000 accredited American colleges and universities now support such closed-loop payment systems at on-and off-campus merchants. And a small, but increasing, number of schools are partnering with banks to enable campus card payments all over the world using PIN or signature-debit ...