CANCUN, Mexico -- Visa International said Bradesco, the leading card issuer in Brazil, will issue a cobranded Ford-Visa card.
Extending the concept from North America, Ford will offer the card free for a year with emergency road service, Ford discounts, and a 5% rebate on purchases applicable to a Ford vehicle purchase.
Ford expects quickly to set a standard for cobranding in Latin America, with 170,000 cards. Udo Kruse, Ford's president in Brazil, said the economy is likely to improve in coming years, and "credit cards replace cash in stable economies."
The card will be marketed through 550 dealers, applicatoins in owners' manuals, and direct mail to purchasers of 1994 models.
Ford-Visa cards are issued in the United States by Citibank and in Canada by Canadian Imperial Bank of Commerce.
Visa, which is holding its annual meeting in Cancun, said its worldwide card volume rose 20% in the first quarter to $130.9 billion.