New Delhi, Oct 22: Mastercard international today announced a promotion for its credit card holders in conjunction with leading merchant establishments in major metropolitan cities as part of a strategy to give a fillip to its credit card business. The promotion, 'Swipe a wish', is aimed at a three-fold business strategy - activation of existing credit cards, acquisition of new cards and increase in the usage of existing ones - Mastercard international vice-president (South Asia) Nitin Gupta told a news conference here.
The promotion, which could be availed by the credit card holders in Delhi, Mumbai and Bangalore, would run till December 31, 2003, he said.
He said there were nine million credit cards in the country out of which nearly half were master cards.
Gupta said he expected a 20 per cent growth in the credit card industry in the next five years.
Regarding debit cards, he said there were five million in the country and there was a tremendous growth as there were 200-250 million bank account holders in India.
Bureau Report