UK portal Lycos is planning to launch an ecommerce credit card which it says will guarantee safe shopping on the Internet.
The Lycos Mastercard, which is the result of an agreement with Bank One International, will have a guarantee that shoppers will be covered against any fraudulent transactions carried out without their knowledge or consent, online or offline.
Cardholders will have exactly the same rights when they are shopping on the Internet as they do when they are buying from a shop, by mail order or over the phone, the companies said.
The card has an interest rate of 5.9 per cent APR for balance transfers (6.9 per cent APR for the classic version) and an interest free period of up to 59 days. Cardholders are able to make account enquires online or offline without charges.
James Corcoran chief executive office of Bank One International commented: "The Lycos card if an Internet card, which retains all, the benefits of a traditional credit card."
"People can shop safely on or offline and they can choose between communicating via a computer or by other means. Cardholders will have free telephone access to our card member services department 24 hours a day, 265 days a year."
The card will be officially launched on 6 December.
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