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Article: INTERNET INCREASES ITS CREDIT LINE: BIG CARD COMPANIES MAKE ON-LINE DEALS; SMALL WEB RETAILERS WAIT THEIR TURN.
- Article from:
- Crain's New York Business
- Article date:
- October 5, 1998
- Author:
CopyrightCOPYRIGHT 1998 Crain Communications, 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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When the boards of directors at Visa International gather for their annual meeting in Buenos Aires at the end of this month, one of the highlights will be a video presentation on electronic commerce.
It features N2K Inc., the on-line music retailer that recently made Visa the preferred credit card for its popular Music Boulevard site. The six-figure deal they cut would have been unheard of a couple of years ago, when the big credit card companies stood outside cybermalls, waiting to perfect a security system for electronic transactions.
No longer. Drawn by an on-line retail market that is expected to hit $6 billion this year and grow to $40 billion by 2002, ...