Alton Evening Telegraph from Alton, Illinois on August 30, 1972 · Page 39
Get access to this page with a Free Trial
Click to view larger version
August 30, 1972

Alton Evening Telegraph from Alton, Illinois · Page 39

Publication:
Location:
Alton, Illinois
Issue Date:
Wednesday, August 30, 1972
Page:
Page 39
Cancel
Start Free Trial

Page 39 article text (OCR)

Alton Evening Telegraph Wednesday. August 30, 1972 Swap for credit card Would end checks 9 cash Bjp KENNETH L. DAVIS COLUMBUS, Ohio (API - tiiy National Bank of Columbus has spent the last, eight monHis trying to find mil if people like you can be waned away from checks nnd cash. City National would give yon a magnetized credit card instead. Art Kelly. Hie young City National officer who is running Hie experiment says. "Something has to be done to cut both the cost of checking accounts to customers and to relicve the paperwork that, is just about out of hand." In the City National concept—machines, which would substitute for bank windows and tellers—would be scattered around something like soft drink machines, perhaps in parking lots of big industrial plants or in stores. At the moment. City National is trying to figure out if there's enough profit i n the scheme. Bank- Americard. one of the largest credit card firms, is a partner with City National in the experiment. Two hundred sixty U.S. banks and financial in- r.titutions in Japan, France, Sweden. Denmark, England, Canada, Puerto Rico and West Germany also want to know the answers. All have sent representatives to find out what City National has been doing. What City National did last October was to issue magnetized Bank-Americard cards in affluent Upper Arlington, a Columbus suburb of about 40.000. The magnetic stripe on the back tells a computer who owns it. The bank also signed up 27 firms and installed card terminals at their cash registers. Card terminals essentially are push-button telephones hooked up to a central computer. Then the bank made the computer talk bnck with a vocabulary of 24 words. You buy. A clerk pushes in thf sales total. The computer voice repeats the charge. If it's correct, then a computer credits the business with the amount of the purchase and debits the customer's bank account with the same amount. In just 14 seconds, the seller has his money. The customer didn't have to handle cash or write a check, and the bank acquired an automatic record. The bank clearing house was relieved of paperwork. In eight months of this experiment. §500,000 in 30.000 transactions have gone through the computer. Sixteen of the 27 firms already have said they would like to make the system permanent, six others gave favorable reactions and three said they were "marginal about the program." Still to be heard from officially is the customer. That will come out, of a report by Field Research Inc., of San Francisco. But some unof- f i c i a 1 observations are possible. ROOF TRUSSES^, I2'.60' CLEAR SPAN "DRY LUMBER" GINTER-WARDEIN 81 HENRY ST. ALTON, ILLINOIS r OUR 100TH ANNIVERSARY YEAR SAVE $ 4 TO $ 8 GO MODERN WITH A WIDE LOW "78" PROFILE ROAD HANDLER AT GREAT LOW PRICESI 95 13 B78-13 TBLS. BLK. PLUS 1.81 F.E.T. AND TRADE Wide "78" series tread delivers good traction and long mileage. Strong 4-ply nylon cord body and modern deep, wide tread for strength. TUBELESS BLACKWALL SIZES B78-13 E78-U F78-U G78-14 G78-15 H78-15 REPLACES SIZE 6.50-13 7.35-14 7.75-U 8.25-14 8.25-15 8.55-15 REGULAR PRICE EACH* 18.50 23.00 25.20 28.50 29.50 32.50 SALE PRICE EACH* 13.95 17.25 19.15 21.40 22.15 24.40 2.81 PLUS F.E.T. EACH 1.81 2.24 2.39 2.56 2.63 'With Iradt-in off your car. WWtewolli $3 man tack. FAST FREE MOUNTING WARDS GLASS TRACK BELTED ROAD TAMER Two fiber glass belts and four polyester cord plies team up for strength, gripping traction, comfortable ride. SIZE REPLACES SIZE REGULAR PRICE EACH* SALE PRICE EACH* PLUS F.E.T. EACH BLACKWAUS C78-14 E78-14 F78-iT] G78-14 [G78-15 j H78-15 6.95-14 7.35-14 7.75-14 8.25-14 8.25-15 8.55-15 $35 $37 $39 $42 $43 $46 26.25 27.75 29.25 31.50 32.25 34.50 2.08 2.24 2.39 2.56 2.63 2.81 f With trad»-in tit* off your ear. W/iil«wolli $2.25 man «odi. JUST SAY "CHARGE ITI" FRONT PEND ALIGNMENT A/C $2 MORE I ALTON PLAZA 465-4275 Mon. - tint. »:30 - 3:30 i "Customers just don't want to be bothered." said Kelly. "They .just want to do their shopping without trouble one way or the other." Officials say they fear customer resistance. People are used to writing checks, charging now and paying later, and going to the bank to deposit checks. Then there's what the bankers call "float." You buy a television set on your department store credit card a day or so past your billing date. You know you won't be billed for a month and will have the usual 25 days for payment. Alton Evening Telegraph Wednesday, August 30,1972 He's not tired Mario QoHec, 4, rests briefly atop the latest in playground equipment. Sweat Associates, an organization of unemployed persons, mostly on Mil* wankee's South Side, has opened a sales office for backyard playground structures, made mostly from recycled items. (AP Wirephoto) -V* GETUPTO1950 EXTRATOP VALUE STAMPS THIS COUPOirWOHTJT 200 EXTRA TOP VALUE STAMPS on any purchase of $5. 00 or more GOOD THROUGH SATURDAY, SEPT. 2 ARLAN8 \ This Coupon Worth 1OO EXTRA TOP VALUE STAMPS with purchase ol any GIRL'S DRESS Good thru Sal.. Sept. 2,1972 TOP VALUE STAMPS with purchase ol WESTAB ORGANIZER Sale Priced al $2.19 Good Itiiu Sal . Sept. 2. 1972 1006 his Coupon Worth TOP VALUE STAMPS with purchase ol AM-FM MULTIPLEX with 8-Track Player, Sale $99.00 Good thru Sat., Sept. 2,1972 This Coupon Worth 5O EXTI TOP VALUE STAMPS with purchase ol VASELINE INTENSIVE CARE SaltPrict 58c Good thru Sal.. Sept. 2. 1972 This Coupon Worth TOP VALUE STAMPS wllh purchase ol FISHER PRICE ACTION GARAGE Sale Pricid at $9.88 Good thru Sal.. Sept. 2, 1972 This Coupon Worth 1OO EXTRA TOP VALUE STAMPS with purr.h-iso of any BOY'S PANTS Good thru Sat.. S«pl. 2. 1972 L This Coupon Worth 50 EXTRA TOP VALUE STAMPS with purrhaso of 48-COUNT CRAYOLA CRAYONS Sale Price 48c boon mil sal., sept. 2. is/* This Coupon Worth 100 EXTRA TOP VALUE STAMPS with purchase ol $5.99 to $10.99 LADIES SLACKS Good thru Sal.. Sept. 2, 1972 This Coupon Worlh 100 EXTRA TOP VALUE STAMPS with purchase ol cither UP RECORDS I 8 TRACK SALE $3.97 I TAPE $4.97 Good thiu Sat , Sept 2. 1972 =*• LAN DISCOUNT DEPARTMENT STORES master cliaiye hopptr: CHARGE IT Get more out of life with"! EAST ALTON ST. LOUIS ST. LOUIS LEMAY BADEN WEST SAINT LOUIS AVENUE HAMPTON VILLAGE 9800 HALLS FERRY RD CORNER REAVIS BARRACKS 4 .,„ .. near EAST BROADWAY (SHOPPING CENTER) (BET. RT 270 » JENNINGS RD) LEMAV FERRY HD. su N OPEN MON THRU SAT. 9 30 AM lo9PM OPEN MON-SAT. OPEN MON.-SAT. OPEN MON-SAT OPEN MON.-SAT. OPEN SUN It AM to 6 PM 10 AM to 10PM 10 AM to 10PM 9 30 AM to 10 PM 10 AM to 10 PM HAZELWOOD INTERSECTION OF PERSHALL RD. 4 GRAHAM RO (SOUTH OF HWY 270) OPEN MON -SAT. 10 AM to 10 PM mi

Get full access with a Free Trial

Start Free Trial

What members have found on this page