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Article: Visa testing debit cards designed for entrepreneurs.(Visa U.S.A. Inc.'s debit card targeted at companies with $10 million in annual sales and 100 employees of fewer)(Brief Article)(Product Announcement)
- Article from:
- American Banker
- Article date:
- April 21, 1997
- Author:
CopyrightCOPYRIGHT 1997 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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Visa U.S.A is pilot testing debit cards for small businesses and will begin promoting the product next year in a move to capture more of the market.
So far six card issuers have offered a Visa debit card targeted to small businesses with fewer than 100 employees and $10 million in annual sales. The Visa pilot began at the end of 1995 and will continue until the end of this year.
The cards, designed to be used for purchasing supplies and some travel expenses, are tied directly to the small businesses' checking accounts, said Craig Card, Visa business check card director.
"The check card would be used for buying paper clips that they would want to pay ...