Republic swipes new visa gift card

IRepublic Bank Limited (RBL) has launched a new card product, the Republic Bank VISA Gift Card.   It is   intended to replace cash, cheques and gift- certificates as a gift-giving alternative. According to Assistant Manager Card Business, Anthony Wong, “This product replaces cash, cheques, gift certificates and in some cases even some traditional gifts. Because of its elegant, beautiful and thoughtful design, we believe that this card will enhance the gift-giving experience.” The Card is a prepaid, stored-value card available in five attractive designs and can be purchased in amounts ranging from $100 to $2,500. The cards can also be personalised and are presented in attractive card-carriers.

The stored-value card market represents a huge area of opportunity for Republic, and based on research conducted, it is an area that is showing explosive growth both in the USA and Europe. Wong says, “For Republic Bank, this was the next logical step in the issuing of our stored-value cards.” This is the third stored-value card that Republic Bank has issued; in November 2002, the Visa TravelMoney card was introduced and during 2003 and 2004 over 90,000 Student Support VISA Electron Cards were issued for the Ministry of Education under its Book Grant programmes. David Dulal-Whiteway, Deputy Managing Director of Republic Bank says, “Ever since Republic Bank issued credit cards locally in 1990, plastic has become the preferred method of payment.

International consumer trends show a distinct preference for purchasing via the use of cards, whether credit or debit.” The card can be used for Christmas, birthdays, anniversaries, weddings, graduations, Valentine’s Day or any special occasion. It is accepted at VISA ABMs and merchants and fits any gift-giving occasion. It can be used anywhere VISA is accepted worldwide and has all of the usual VISA security features.Dulal-Whiteway says Republic Bank is “confident that customers will warmly welcome this new card, as it is sure to simplify their gift-giving choices and bring them kudos and appreciative hugs as well. “The new card, he said,  will also serve to make the card industry in TT even more exciting than it already is. “It is just in time for the Christmas season and can address the ‘gift giving’ problems that so many of us face at this time of year.”