Standard Chartered Bank on Monday launched in India its Visa Mini card, which is almost half the size of a regular credit card, targetted at the growing young-earner segment.
The new globally valid card, promoted as trendy new product innovation, has a hole that allows cardholders to attach it to their key chain, mobile phone, or any other personal carry-along device.
At 1.4 million cards, India is the second biggest market in credit card business for the bank after Hong Kong. In India, the youth segment contributes seven to eight per cent of the bank's card base.
"With the launch, we expect to have a few more multiples of that," head of credit cards and personal loans, Shyam Srinivasan, told a press conference in Bangalore.
SCB chief executive (India) Chris Low said the bank's operation in this country is expected to contribute 13 to 15 per cent to the overall pre-tax profit of the global group in 2003.
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