Woolworths Limited (ASX:WOW) Money business is teaming up with Visa to offer 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.
The retailing giant says the partnerships will provide more rewarding, convenient and innovative ways for consumers to shop across its stores.
The company hopes to set a new benchmark for retailer-branded chip-enabled credit cards and expects to deliver product enhancements in the first half of 2015.
Woolies has advised Visa will work closely with its Money business to migrate the existing credit card portfolio from MasterCard and HSBC later this year.
Woolworths reported a net profit of $1.33 billion in the first half of the 2014 financial year.
