Visa move is Aust. only

Press, 16 July 1983, Page 22

Visa move is Aust. only

NZPA Sydney The Australia and New Zealand Banking Group’s reunion with the Visa credit card operations will not affect the ANZ’s links with the rival Master Card in New Zealand.

Mr Jim Nicholson, general manager of ANZ’s branch banking in Australia, said that the link with Visa applied only to the Australian company. “ANZ in New Zealand is a separate company, and what we do here does not apply to their operations,” he said. ANZ Australia announced the resumption of old ties with Visa and it becomes the only one of the four major trading banks on this side of the Tasman to do so. The other three, the stateowned Commonwealth, the National (not connected with the New Zealand Lloyd’s owned bank of the same name) and Westpac have cemented their ties with Master Card. Mr Nicholson said that up to about 18 months ago,

Australian trading banks were issuing both credit cards, when they stopped and decided to concentrate on their own “plastic money” cards. “That left a void with no international credit card facilities for customers, whose only alternative was American Express or Diner’s Club,” he said. “Four to six months ago National, the Commonwealth and Westpac decided to link up with Master Card, and the ANZ decided to go back with Visa. “In New Zealand, the ANZ, and what were the Bank of New South Wales and the CBA, all decided about three years ago to go with Master Card, while the BNZ and the National there went for Visa. , “What we’ve done here will have no effect on the ANZ’s operations in New Zealand.” He said both cards were widely recognised overseas.