Saturday, January 24, 2004
Eastern Europe's shoppers cash in on credit card use
Chicago Tribune: "The biggest obstacle credit card marketers had to overcome in Hungary was fear of fraud. But consumer concerns about the safety of their cards have led to an important security innovation made possible by the explosive growth of mobile phones in Hungary.
Each time a card is used, the cardholder immediately gets a text message on his or her cell phone confirming the transaction and notifying the cardholder of the balance. Initially developed in Hungary, the messaging system is used widely in Poland, the Czech Republic and Slovakia. It is now being introduced in Western Europe."
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