Woolworths Money to partner with Visa for credit card scheme

Posted by AFN Staff Writers on 2nd July 2014
Woolworths Money to partner with Visa for credit card scheme
Woolworths Money to partner with Visa for credit card scheme

Australian supermarket group Woolworths has announced a partnership between its Money division and finance business Visa to offer a range of consumer card payment solutions.

Under the partnership, Visa will be the exclusive card scheme for Woolworths Money’s recently announced credit card partnership with Macquarie Bank.

Woolworths said it would work with Visa and Macquarie Bank to deliver “enhanced consumer credit products” providing “more rewarding, convenient and innovative ways” for customers to shop globally and at Woolworths, BIG W, BWS, Dan Murphy’s, Thomas Dux, Woolworths Petrol and Masters stores.

“As the number one global payments technology company and the leading consumer card brand in Australia, Visa will work closely with Woolworths Money to migrate the existing credit card portfolio from MasterCard and HSBC later this year,” said Dhun Karai, Woolworths Money General Manager.

“In the first half of 2015 Woolworths Money will deliver exciting product enhancements to the existing benefits and popular rewards offered to Woolworths Money credit card holders,” Ms Karai said. “Our exciting new partnerships with Visa and Macquarie Bank will set a new benchmark for retailer-branded chip-enabled credit cards, just as it did when the credit card program launched in 2008. Cardholders will continue to enjoy world class payment security and service innovations,” she said.

Stephen Karpin, Visa’s Group Country Manager, Australia, New Zealand and South Pacific said Visa was pleased to be collaborating with Woolworths and Macquarie Bank.

“Visa is excited to deliver in collaboration with Woolworths and Macquarie Bank what we’re confident will be highly innovative and rewarding card products in Australia,” Mr Karpin said.

“This is another example of how we’re using our core network assets to deliver payment innovations to our retail partners that help them better serve consumers while growing their businesses,” Mr Karpin said. “This will see us develop market-leading experiences for Australians which make payments even more convenient, rewarding and secure,” he said.

Woolworths said the partnership continued its efforts to develop “innovative payment solutions” for its customers. Woolworths said it was the first national retailer in 2012 to offer contactless payment facilities across all brands and was the first to introduce contactless payment facilities at its petrol sites in 2009. Woolworths said it was also Australia’s first national retailer to implement chip payments security as well as pre-swipe and the provision of PIN on credit card payments.