Standard Chartered India has begun issuing a platinum version of its "Manhattan" credit card, a bank official tells CardLine Global. The bank hopes to gain more customers between the ages of 30 and 35 who earn at least 500,000 rupees (US$11,700 or 7,500 euros) annually, says R.L. Prasad, the bank's general manger for credit cards and personal loans. The bank has issued some 250,000 regular Manhattan cards and hopes to issue 100,000 platinum cards by 2009, Prasad says. The platinum cards offer 5% cash-back rewards for purchases made at supermarkets and department stores. Cardholders pay an annual fee of 2,000 rupees. Standard Chartered has issued 1.6 million cards in India, Prasad says.
Authoritative analysis and perspective for every segment of the payments industry
Authoritative analysis and perspective for every segment of the industry
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