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Three
years through a five-year plan to “mainstream debit,” Visa U.S.A. is
moving into related specialty products, such as prepaid and payroll cards.
Its newest direction is to expand check conversion.
“There
are a lot of applications coming down the road ... that use the debit
infrastructure as the basis to expand on,” said Jeffery M. Kann,
Executive Vice President of consumer products, VISA U.S.A.
The
push for off-line debit—card payments that are cleared the same way as
credit cards, with a couple of days’ delay in the posting to a checking
account—began in 1996. Since then, the Visa check card base has grown by
more than 40% a year.
Visa
wants to see debit account for 10% of all consumer payments by the end of
2001.
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The Green Sheet, Inc.
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