Financial Daily from THE HINDU group of publications
Friday, Jul 12, 2002
Financial Daily from THE HINDU group of publications Friday, Jul 12, 2002 |
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Money & Banking
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Credit Cards & Debit Cards ABN-Amro launches 2 credit cards Our Bureau
Mr Jan Peter Schittmann, Senior Executive Vice-President, ABN-Amro Bank, Mr Romesh Sobti, Executive Vice -President & Country Representative, ABN-Amro Bank (India), and Mr Sameer Vakil, Vice-President & Country Manager, South Asia, Mastercard International, at a meet in Mumbai on Thursday.
MUMBAI, July11 ABN-AMRO Bank (India) has launched two globally valid credit cards in association with Mastercard, called `Smart' Gold Card and `Freedom' Silver Card. The smart gold card is enabled by a `smart chip' and offers Indian customers `smart rewards'— an online rewards program with real time enquiry and redemption of reward points at over 200 outlets across India. Addressing a press conference here today, Mr Jan Peter Schittmann, Senior Executive Vice-President, (new growth markets and private clients), ABN-Amro Bank, said, the launch of the credit cards have filled the missing value proposition in the banks consumer banking business. "With this we reinforce our long-term commitment to growing our consumer banking franchise in the country alongside with our strong existing wholesale and commercial business,'' he said. The smart gold card also offers `Smart Alerts'— comprehensive SMS and email updates on key transactions. Cardholders are offered higher credit limits than their existing cards and one complimentary add on card for life. The `Freedom' credit card aims at helping customers gain control over their spending with the `flexilimit' feature which allows them to regulate their limits as per their ability to pay, said Mr Romesh Sobti, Executive Vice- President and Country Representative, ABN-Amro Bank (India). The card also has an active alerts feature, which keeps cardholders informed through e-mail and SMS, all vital transactions made with the card. Cardholders also receive an Year-End Statement Summary (YESS), which is an annual statement showcasing all transactions done during the year with category wise analysis of spends. Both the `smart' and `freedom' credit cards offer the customer an option to transfer outstanding balance from their existing credit card to ABN-Amro Bank credit cards, said bank officials. ABN-Amro Bank credit cards will be launched simultaneously in Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Pune, Bangalore and Noida.
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