Statistics, Facts, & Such
Mexicans who work in the United States send an estimated $6 billion to their families in Mexico each year-by mail, in person, and about $2.4 billion by electronic transfers, which are growing by 30% a year.
A new report predicts there will be 3.5 billion smart cards in circulation worldwide by the year 2001.
70% of the banking regulations in California were updated by either deletion or amendment by the California Banking Department in May, 1997.
It is reported that vendors who want to incorporate reader technology into computers, keyboards, telephones, vending machines, etc. can add a smart card interface for less than $10 per unit, depending on volume.
There were 7,562 robberies in 1996, 12% more than the 6,758 in 1995.
The first Secure Electronic Transaction (SET) enabled merchant is Wal-Mart. This means cardholders with software can buy items on-line, using cryptography that verifies both consumer and merchant.
More than 70% of commercial banks have assets of less than $250 million.
In the New York area, a survey of 800 consumers showed 47% used direct deposit in 1996, an increase from 38% in 1995; 73% of businesses offered direct deposit last year for their employees, up from 72% the year before.
Rep. James Leach stated that over 90% of the value of payments in the United States now flows electronically.
The operating expenses of an "Internet Bank" range from 15% to 20% of net operating income, compared with approximately 60% at traditional branches.
Copyright © 1997 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 7, No. 7, 6/97
First published on 06/01/1997