MORE VISA CARDS TO BE OFFERED BY HSBC

Updated: 10/30/2008 19:46
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New debit card programs will be launched in several countries across Asia Pacific region and the Middle East under the partnership of Visa

New debit card programs will be launched in several countries across Asia Pacific region and the Middle East under the partnership of Visa and HSBC. The new agreements are an expansion of HSBC's current credit card issuing relationship with Visa which tries to combine its global brand and payments expertise with strong local marketplace knowledge and execution to contribute to the business growth of its clients.

As a part of the agreement Visa will become HSBC's exclusive partner for new consumer debit products. Thus by early 2009 HSBC Middle East Limited will begin issuing new Visa-branded debit cards in United Arab Emirates, Qatar, Bahrain, Oman, Egypt, Jordan, Lebanon and Pakistan. Ot of these new cards nearly 1 million will be Visa payWave-enabled cards that allow cardholders to make contactless payment transactions quickly and securely at the point of sale.

At the moment HSBC is issuing more than 10 million Visa debit cards in Australia, Brunei, India, Indonesia, Malaysia, Mauritius, Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam.


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