Majority happy with Visa card —bank

Press, 6 November 1978, Page 6

Majority happy with Visa card —bank

PA Wellingyon The Bank of New Zealand has come to the defence of what it calls the “silent; majority” in the controversy, over its new Visa cards. “News media reports tend' to reflect the opposition to I Visa cards: what appears to] be missing is some facts: about the other side of the; story,” said the bank’s mar-: keting manager (Mr R. E. Mead) yesterday. He said most of the bank’s customers appeared' to be happy with the card and intended to retain it to] see how it would work for] them, particularly as it was I free for the first six months. ' Since beginning the Visa! programme, Visa transac-. tions totalling more than! $400,000 had been processed.; : This was more than had been originally predicted. “Since we launched the'

, card last week actual sign- I ups from retailers have been ' among the highest for any 'week and we are now hav-l (ing some difficulty coping; with retail requests for us to] ! call on them,” said Mr] 'Mead. i It was obvious that only I ! one side of the retailer viewi .was getting through. Now! 'that the card was in the; : hands of customers many re- ; (tailers were keen to join the! Visa programme. “What about the 4700 re-; 1 tailers who are currently j accepting the card gladly?”] • asked Mr Mead. “This is a’ I higher retail base than for] I any other plastic card in the! 'country even though we •have only been offering our I system for a few months. | ~ “It seems that the retail j industry is split over Visa: 'and only those who are op- ] posed to it are being re-1 ported.”

Mr Mead said the bank; had expected that a proper-! t.ion of its customers would' not want the card. 'lt was ; natural that out of 250,000 ' persons some would take 'enough exception to the card jto express views publicly I against it. “Some have acted this 'way: on the other hand, a ! number of customers have !gone to the trouble of peri.sonally congratulating the! jbank but by far the majority] have kept their card without; (Comment,” said Mr Mead. The Visa programme was I 'entirely optional. No retailer] | had to join it and no cus-l Itome.r of the bank had to' 'use the card. But. the performance to' 'date clearly showed that the; launching of the programme ] jhad been successful. “Consumer demand in this ' I country will follow overseas' ’experience,” said Mr Mead.