The virtual cards will be launched in 3-4 months.
Leumi Card, Bank Leumi’s new credit card company, will soon issue virtual credit cards.
The cards will be ordered by customers over the Internet, without having to go to the bank and sign forms. The cards will be used to pay for purchases on e-commerce sites.
The virtual cards will be launched in 3-4 months. There is no such product in Israel at the moment, and the cards will be an innovation on the credit card market both in the manner in which they may be ordered and in the product’s characteristics.
The new company is targeting one of the biggest potential market slices: e-commerce, in which credit card companies are seeking to become key players. When web-based commerce grows significantly, it will increase the use of credit cards.
Leumi Card would not comment on the report.
Published by Israel's Business Arena on 9 January, 2001