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Article: GLOBAL PAYMENTS DISTRIBUTES MORE THAN 100,000 MAESTRO CARDS IN RUSSIA.(Brief Article)
- Article from:
- Cardline
- Article date:
- January 7, 2005
CopyrightCOPYRIGHT 2005 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A Czech Republic subsidiary of Global Payments Inc. distributed over 100,000 Maestro-branded credit cards in Russia in the last quarter, Paul Garcia, Global's chairman, president and CEO, tells CardLine. Muzo a.s., the Prague-based merchant-acquiring unit of Global, is processor of the cards through a deal with Home Credit & Finance Bank (HCFB), the second-largest consumer credit provider in Russia (CardLine 7-28-04). Although Maestro is typically a debit card, the HCFB Maestro cards offer Russian cardholders a revolving line of credit. HCFB is part of the PPF Group, a 12-year-old, $15.9 billion investment bank with operations in the Czech Republic, Slovakia, Russia and ...
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