STRATEGIC PARTNERS
February 24, 2002
MUMBAI, INDIA -- Visa International announced plans to launch its Electron electronic debit card, which enables a customer to access his bank account from over 8 million point-of-sale/electronic data capture terminal and 450,000 ATMs throughout the world, in India in 1999.
Visa's Country Manager of India, Chandra Agnihotri, said that eight Indian banks will launch the Electron card in India. Of those, ANZ Grindlays, Citibank and HDFC bank will issue it in the first half of the year.
Visa has also entered into a strategic alliance with India's leading consumer payment processing service company, Equifax Venture Infotech, to enable payment card transactions to be processed more quickly, efficiently and securely. The Visa-EVI partnership will also support the growth of point-of-sale terminals and ATMs in India and provide a strong platform for the introduction of smart cards and other debit cards.
