Company history
Eurocard Austria, the predecessor of PayLife Bank GmbH (formerly Europay Austria Zahlungsverkehrssysteme GmbH), was established in 1980 as a subsidiary of the Austrian banks as the financial institutions wanted to increase the range of cashless payment products available to their customers. Up until that point, cashless payments in Austria had required a eurocheque plus cheque card carrying a payment guarantee.
The main tasks of Eurocard Austria were to issue Eurocard credit cards and create a network of distribution partners for Eurocard/MasterCard credit cards. Eurocard Austria expanded steadily, and by 1985 there were already 10,000 MasterCard merchants in Austria. Credit cards were distributed through around 5,000 bank branches, with Eurocard Austria providing marketing, advertising and sales promotion support.
Steady increase in the spread of the Eurocard/MasterCard
The slogan "If you don’t own one, you need one" was launched in 1983 and became one of the most successful advertising campaigns conducted in Austria, winning many awards.
As a result, there was a steady increase in the spread of the Eurocard/MasterCard. Between 1980 and 1989, Eurocard Austria exclusively issued T&E (Travel & Entertainment) cards to high-mileage business and private travellers. From 1989 onwards, these were issued in the form of Gold and Silver cards offering additional insurance cover. This gave tourists and business travellers in Austria the convenience of paying without cash. Increasing numbers of Austrian cardholders started using their cards within the domestic network as well as when travelling abroad. From 1989/90, onwards the financial institutions issued a standard card without insurance cover known as the "self-issuer" card.
Second predecessor was GABE Geldausgabeautomaten Service GmbH
The second predecessor was GABE Geldausgabeautomaten Service GmbH, established in 1978. GABE initially dealt with the planning, logistics and setting up of ATM systems, and subsequently added ATM and cash withdrawal functions to eurocheque cards.
After analysing the Austrian market, the banks opted for a single common ATM solution, a decision which bears international comparison to this day. This ensured a highly customer-friendly solution within Austria.
These innovations were implemented quickly and efficiently and revolutionised cashless payments in Austria. In 1981, eurocheque cards were equipped with ATM functions; cross-border cash withdrawals became possible from 1984 onwards. In 1985, ATMs were joined by lobby ATMs - cashpoints located inside banks.
