HSBC expands Visa debit cards in Middle East, Asia Pacific |
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JEDDAH - HSBCHSBC
selects VisaVisa as exclusive brand partner for new consumer debit cards in 20 countries, launches first contactless VisaVisa payWave-enabled debit card in the Middle East VisaVisa Inc. and HSBCHSBC announced on Thursday that the companies have expanded their global relationship to include new debit card programs in a number of countries and territories throughout Asia Pacific and the Middle East.The five-year regional agreements represent an expansion of HSBCHSBC
's current credit card issuing relationship with VisaVisa and are the latest milestones in VisaVisa's efforts to combine its global brand and payments expertise with strong local marketplace knowledge and execution to help clients grow their business.HSBC Middle EastHSBC Middle East
Limited will begin issuing new VisaVisa-branded debit cards by early 2009 in eight countries including United Arab Emirates, Qatar, Bahrain, Oman, Egypt, Jordan, Lebanon and Pakistan. Some of these approximately one million new cards will also be VisaVisa
payWave-enabled, allowing cardholders to make contactless payment transactions quickly and securely at the point of sale. The VisaVisa payWave-enabled debit cards will also be able to support services such as loyalty programs for cardholders, bringing more convenience and added value to debit transactions."The introduction of a region-wide HSBC Visa debit chip card is further evidence of HSBCHSBC
's commitment to delivering innovative products to market and enhancing customers' banking experience. We are delighted to launch a product in association with VisaVisa that offers our customers convenience and flexibility, enabling them to use their cards at the point of sale and at the ATMs," said Abdulfattah Sharaf, CEO, Personal Financial Services, HSBC Middle EastHSBC Middle East.Under terms of the agreement for Asia Pacific, VisaVisa
will become HSBCHSBC's exclusive partner for new consumer debit products, with HSBCHSBC issuing more than 10 million VisaVisa debit cards in Australia, Brunei, India, Indonesia, Malaysia, Mauritius, Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam.Currently, there are approximately 847 million VisaVisa
Inc. debit cards globally; representing more than $2.1 trillion in total volume, for the 12 months ended June 30, 2008. By Saudi Gazette Staff
© The Saudi Gazette 2008
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