Interest in global credit cards markets is at a new all-time high - from leading US and European players, from retailers and telcos, and other new entrants, and from venture capital companies keen to finance new start-ups. All this is happening at a time when there is an emerging global battle to dominate consumer credit markets, and a major push by national banks to become serious regional players. For everyone, the credit card, with its amazing profitability (ROEs of 25-50 percent) and attractive distribution cost structure is an opportunity not to be missed. It also lies at the heart of e-commerce.
Interest in credit cards is closely matched with interest in e-payments, as banks and the financial industry in general seek to come to grips with the multiplicity of new initiatives coming onto the market, from micro-payments and wallets to service providers, payment gateways and EBPP providers. This is where the credit card comes into its own. No other product is more suited to cross-border delivery of financial services.
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