Ansett Takes Off Into Credit Cards
The Age
Tuesday February 11, 1997
Sydney.
Westpac has teamed up with Visa International and Ansett to launch the first co-sponsor product linked to the Sydney Olympic Games.
The Global Rewards Westpac Visa is the latest entrant to the increasingly crowded co-branded credit card market but, with Ansett's 850,000 frequent flyers, Westpac expects a head start in its grab for market share.
The card will attract one Ansett frequent flyer point for every dollar spent, putting it second only to Diners Club - which offers 1.5 points per dollar - in the generosity of its loyalty program.
Westpac and Ansett will each donate $10 to support the Australian Olympic team for every new card or frequent flyer membership approved.
Applications before 11 April will go into a draw for a five-night Games package, including seats at the opening ceremony.
Co-branded cards have become the most popular segment of the credit and charge card business since being introduced two years ago.
ANZ Bank's Telstra and Qantas Telstra Visa cards have attracted close to 600,000 customers in 18 months, while Westpac's GM card has about 200,000 cardholders.
Westpac's head of cards, Mr Rob Bishop, said the Global Rewards card was a simple and clean proposition, uncluttered by the different bonus point arrangements of some cards.
Visa's Asia-Pacific president, Mr Dennis Goggin, said the card could become Australia's first chip-based credit card.
Visa has been piloting its chip-based stored value card on the Gold Coast, and is keen to use it with credit and debit cards.
Stored value cards have a microchip to record transactions and the outstanding balance. They have been mooted as a replacement for cash.
Visa achieved mixed success with stored value cards at the Atlanta Olympics, but is expected to return with a more robust system in 2000.
© 1997 The Age
