Visa ICC-Cal has granted over NIS 2 billion credit in 230,000 loans over the past two years.
Credit card company Visa ICC-Cal plans to launch a new business: extending credit to people who are not customers and do not carry its credit card, revealed Visa ICC-Cal VP marketing Gil Speisman. This is an innovation for Israel, where until now credit card companies extended loans to their own customers only.
Speisman said this activity exists in other countries, where credit card companies open offices for this purpose. He said Visa ICC-Cal had not yet decided whether to open branches, and current thinking was to reach customers through representatives at booths in supermarket chains and malls.
"Visa ICC-Cal decided that it wanted to become the credit sector leader two years ago, and credit cards are just one means to this end," said Speisman. He added that the company had granted over NIS 2 billion in credit in 230,000 loans over the past two years.
Published by Globes [online] - www.globes.co.il - on April 14, 2004