MASTERCARD, VISA SLUG IT OUT IN OPEN

Article Abstract:

The rivalry between MasterCard and Visa came out into the open as both refused to jointly attend the press conference in Mumbai to announce the launch of the Global Card of Standard Chartered Bank on March 22, 1999. MasterCard decided to boycott the conference as Visa was attending and instead chose to meet business journalists at exclusive meetings after the press conference. Banking sources say that the rivalry has become very intense as Visa has stolen a march over MasterCard in the Indian market. MasterCard currently has a card base of 1.7 million in India against Visa's 1.1 million, but Visa's billings are at Rs3500 crore while MasterCard's billing, which stood at Rs1700 crore in 1997, have stagnated in 1998. (khr)

Comment:

The rivalry between MasterCard and Visa came out into the open as both refused to jointly attend the press conference in Mumbai to announce the launch of the Global Card of Standard Chartered Bank on March 22, 1999.

Commercial Banks, Marketing procedures, MasterCard International Inc., Standard Chartered Bank PLC, Visa Inc.

---

AMEX LAUNCHES PERSONAL FINANCE SERVICES IN INDIA

Article Abstract:

American Express Bank (Amex) has introduced personal finance services in India. The services offered include savings and investment products like time deposits, savings and current accounts, sweep accounts and floating rate time deposits. Amex will also provide car loans, unsecured loans and overdrafts. Advisory services for money management and other conveniences like telebanking, workplace banking, home banking and Internet banking will also be offered. (ag)

Comment:

Introduces personal finance svcs, including savings & investment prods like time deposits, savings & current accounts, etc

Commercial Bank Retail Svcs, Retail banking, American Express Bank Ltd. (New York, New York)

---

AMEX LAUNCHES GOLD CARD IN MUMBAI

Article Abstract:

American Express Bank has introduced its premium card, The Gold Card, in Mumbai. The card, which is available in Mumbai and Delhi now, will later be extended to Bangalore, Calcutta and Chennai. The Amex Gold Card has a membership fee of Rs1,500 and an annual fee of Rs3,100. The card offers personal accident insurance, which includes air accident insurance of 30-40 lakh and non-air accident insurance of Rs3 lakh. (khr)

Comment:

Has introduced its premium card, The Gold Card, in Mumbai

American Express Bank (India)

Similar abstracts:

• Abstracts: KG DENIM TO LAUNCH RANGE UNDER `TRIGGER TREVI' BANNER KG DENIM NET SLUMPS IN Q3. SPAN-EICHER MAY MAKE LEVIS
• Abstracts: HFCL BAGS Rs80-CR SDH EQUIPMENT ORDER ICI PLANS Rs80-CRORE INVESTMENT IN SOUTH NIRMA RAISES Rs80.25 CR
• Abstracts: WHIRLPOOL OF INDIA: CAUGHT IN THE RECESSION WHIRLPOOL. BESTAVISION ATTRACTS HITACHI, HAIER, DNF FOR TIE-UPS MERGER OF FINANCIAL ARM TO BOOST WoI's BORROWING CAPACITY

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.