The Hindu Business Line : Visa debit cards retail sales volume up 135 pc in first half

VISA debit cards' retail sales volume grew to $310 million for the first half of 2004. The volume represents usage of VISA debit cards to pay for purchases at point of sale; this witnessed a year on year growth of 135 per cent.

The company plans to strengthen its position in the cities where it currently has a presence instead of expanding to other cities for some time to come, said Mr Santanu Mukherjee, Country Manager, South Asia, Visa International.

The company has a presence in over 20 cities, said Mr Mukherjee. The growth in these cities is planned through Area Development Programme, launched in 2001. Some of the major drivers of growth for its business have been banks such as Citibank, ICICI Bank, HDFC Bank and a few others, he added. Mr Mukherjee was speaking at the sidelines of Visa India's Debit Forum held here.

Payroll cards: Visa International has recognised the target segment of factory workers in India, he said. The company might launch payroll cards in India for this segment. Although the plans for launch have not been laid out, the card will be along the lines of similar cards globally.

The card would be debited with the salary or pay of the worker and they could use the same for their purchases. The option of withdrawing any amount from their account through this card would also be available to the workers.

Mr Mukherjee said the target consumers in this case would be the unbanked segments of the society.

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