Top Story


Home >> Media – Print >> Article

Visa aims to double its card acceptance base in India by 2003

Font Size   16
Visa aims to double its card acceptance base in India by 2003

In order to achieve its target of doubling its card acceptance base in the country by the end of 2003, Visa International is now focusing on three new areas — cellular, basic telecom and petroleum companies — for issuing co-branded credit cards.

With dominant market share of 56 per cent in credit card industry in the country, Visa has 23 member banks in India, including foreign, private and nationalised banks with over 2.67 million cards.

Visa is also planning to launch “affinity-cards” in association with non-government organisations like Child Relief and You (CRY) and World-Wide Fund. Visa International has set an ambitious target to increase merchant establishment from 110,000 to over two lakhs in the next two years and also doubling its Visa Electron sale terminal from the existing 15000.

India is one of the fastest growing market for Visa in the Asia-Pacific region. Apart from credit cards, Visa has established largest cash advance facility, with over 1,100 ATMs and 6,600 cash disbursement branches in 130 towns and cities in the country.

The company has also entered into a strategic alliance with Venture Infotek to enhance the growth and development of the country’s payment card industry.


Bhasin on the checks and balances of new IRS, methodology with new companies like Vedsur on board, interpreting the data and why it’s not fair to compare with previous data

Chitresh Sinha, CEO, Chlorophyll Innovation Lab and Vivek Singh, Joint MD, Procam International speak exclusively with exchange4media on the upcoming #BeBetter Campaign for the TATA Mumbai Marathon

Abhishek Punia, Co-founder and COO of ARM Worldwide, tells about how they re-branded themselves from ARM Digital to ARM Worldwide and in the process marked their presence globally

Srinivasan opens up on what prompted their recent rebrand, their foray into bus depots and developing the software that displays Bengaluru Metropolitan Transport Corporation's (BMTC) Passenger Information System for all the major bus depots in Bangalore.

Duroflex and Happy mcgarrybowen launch #7HourMarathon campaign with Milind Soman to promote healthy sleeping practices

Punjab has witnessed highest growth, of more than 50% DTH penetration, followed by HP and J&K

IRS 2017 has been reinforced with design, methodology, quality, and questionnaire enhancements to ensure the highest integrity of the data.