SINGAPORE — Visa International has signed an exclusive deal with Japan’s Postal Savings Agency, a depository institution, to offer Visa debit cards starting in the third quarter.

Visa estimates that 10 million of its signature-based debit cards will be issued by Visa member Credit Saison in Japan over the next five years. Chips are to be added to these cards in a Postal Savings chip migration scheduled to begin in 2003.

“Many Postal Savings deposit holders either don’t want, or don’t qualify for, a credit card,” said Rajov Kapoor, executive vice president of marketing at Visa International Asia-Pacific. “The launch of Visa debit … will enable Postal Savings to provide a value-added service to a broader customer base.”

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