PNB aims to issue 200,000 global credit cards by March 2010

Intending to widen its credit card base across value as well as high end customers, public sector lender Punjab National Bank (PNB) is now aiming to issue 200,000 global credit cards by March 2010.     

"We are targeting to issue two lakh global credit cards to our customers by end of the current fiscal," PNB Chief General Manager (Credit Card Venture) Ranjan Dhawan told reporters today.      

The bank would also shortly launch its new cards- Corporate and Platinum credit cards. "Corporate Cards will be meant for senior executives of companies who often travel for business purposes. In this category, there will be two cards such as Individual liability and corporate liability," he informed.     

 

Another second Platinum card will come with enhanced benefits for high end customers (income having between Rs 7 to 10 lakh per annum). "This card will meet the requirements of customers like premium gold membership, lounge expenses etc," he said.     

"Trials for these cards are already on and we hope to launch them within next two months," he said.     

Having launched its credit card in February this year in association with VISA, PNB has already created a card base of 28,000. This card is accepted at over 29 million merchant establishments and one million ATMs worldwide which use VISA as a payment gateway.

Having decided to foray into Card Acquiring Business, Dhawan said that the bank, under this initiative, would provide Point of Sales (PoS) terminals to merchandise establishments which are associated with it.     

"We have sought Expression of Interest for launching this service and we hope to introduce the same within the next 8-9 months," he said.