RBS 2006 Annual Report Download - page 23

Mint Mobile In 2006 Mint
customers were given the
option of managing their
credit card payments via
their mobile phone.
RBS Group • Annual Report and Accounts 2006
22
■The number of transactions processed by our payment
acquiring business topped three billion for the first time, an
increase of 6% on 2005.
■By combining our card issuing and acquiring capabilities,
we were the first in Europe to develop and trial a ‘contactless
card’, for making payments of under £10 without the need
for cash.
■Hanco is the largest supplier of third-party ATMs
in the UK. Although Hanco offers a range of internal and
external ATM options, it predominately operates ATMs on
a ‘merchant replenishment basis’. Hanco has continued
to grow market share successfully ahead of competition.
■Our direct brand MINT has continued to grow and as
well as credit cards also offers gift cards, loans and motor
insurance. Over two thirds of MINT credit card applications
come via the internet. MINT card customers can set email
and text alerts to help them manage their accounts quickly
and simply, and can receive statements and balances by
text message.
■With five million customer accounts and 22 products
and services, our joint venture Tesco Personal Finance is
the UK’s largest and most successful supermarket bank.
Tesco Personal Finance operates in the UK, Ireland, Hungary
and Poland.
■Tesco Personal Finance continues to expand its range
of products, and in 2006 introduced the Bonus Credit Card,
which gives customers back one month’s interest every
year – a first in the UK. Tesco Personal Finance has also
entered the business market with the new Tesco Business
Credit Card.
■Tesco Personal Finance is the third-largest issuer of car
insurance policies in the UK. In 2006 we introduced Value
Car Insurance, offering modified comprehensive cover to
motorists who currently have only third party insurance.
Divisional review Retail Markets
Retail Markets continued
Free Access to Cash for Deprived Communities
In July 2006 RBS committed to providing 300 free-to-use
cash machines for deprived and rural areas. We have
worked with community groups, local authorities and the
National Federation of Sub-Postmasters to find host sites
for these machines.
Divisional review continued