SINGAPORE Visa International has signed an exclusive deal with Japans 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 dont want, or dont 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.
