Jaipuria Institute of Management Jaipur

PROJECT REPORT ON

“INNOVATIONS IN CREDIT AND DEBIT CARD

BUSINESS BY INDIAN BANKS”

Submitted in partial fulfillment for the award of the degree of

POST GRADUATION DIPLOMA IN MANAGEMENT

2009-10

Under the guidance of

Prof S.P Garg

INDEX
Innovation in credit and debit card business by Indian banks

 Introduction

 Innovation and development by Indian banks

 Recent innovations and developments in credit and

debit card business by Indian banks

 Challenges

 Recommendation

 Conclusion

INTRODUCTION

CREDIT CARD:
Credit card is part of a system of payments named after the small plastic card issued to users of
the system. It is a card entitling its holder to buy goods and services based on the holder's
promise to pay for these goods and services. The issuer of the card grants a line of credit to the
consumer (or the user) from which the user can borrow money for payment to a merchant or as a
cash advance to the user.

A credit card is different from a charge card, where a charge card requires the balance to be paid
in full each month. In contrast, credit cards allow the consumers to 'revolve' their balance, at the
cost of having interest charged. Most credit cards are issued by local banks or credit unions, and
are the shape and size specified by the ISO/ICE 7810 standard as ID-1. This is defined as 85.60 ×
53.98 mm in size.

CONTENTS

 How credit cards works

 Features
 Profit and losses
 Credit card numbering
 Credit card in ATMs

How credit card works:

Credit cards are issued after an account has been approved by the credit provider, after which
cardholders can use it to make purchases at merchants accepting that card.

When a purchase is made, the credit card user agrees to pay the card issuer. The cardholder
indicates consent to pay by signing a receipt with a record of the card details and indicating the
amount to be paid or by entering a personal identification number (PIN). Also, many merchants
now accept verbal authorizations via telephone and electronic authorization using the Internet,
known as a 'Card/Cardholder Not Present' (CNP) transaction.

Electronic verification systems allow merchants to verify that the card is valid and the credit card
customer has sufficient credit to cover the purchase in a few seconds, allowing the verification to
happen at time of purchase. The verification is performed using a credit card payment terminal or
Point of Sale (POS) system with a communications link to the merchant's acquiring bank. Data
from the card is obtained from a magnetic stripe or chip on the card.

Other variations of verification systems are used by ecommerce merchants to determine if the
user's account is valid and able to accept the charge. These will typically involve the cardholder
providing additional information, such as the security code printed on the back of the card, or the
address of the cardholder.

Each month, the credit card user is sent a statement indicating the purchases undertaken with the
card, any outstanding fees, and the total amount owed. After receiving the statement, the
cardholder may dispute any charges that he or she thinks are incorrect, otherwise, the cardholder
must pay a defined minimum proportion of the bill by a due date, or may choose to pay a higher
amount up to the entire amount owed. The credit issuer charges interest on the amount owed if
the balance is not paid in full (typically at a much higher rate than most other forms of debt).
Some financial institutions can arrange for automatic payments to be deducted from the user's
bank accounts, thus avoiding late payment altogether as long as the cardholder has sufficient
funds.

Features:

Credit cards offer consumers an easy way to track expenses, which is necessary for both
monitoring personal expenditures and the tracking of work-related expenses for taxation and
reimbursement purposes. Credit cards are accepted worldwide, and are available with a large
variety of credit limits, repayment arrangement, and other perks (such as rewards schemes in
which points earned by purchasing goods with the card can be redeemed for further goods and
services.

Some countries, such as the United States, the United Kingdom, and France, limit the amount for
which a consumer can be held liable due to fraudulent transactions as a result of a consumer's
credit card being lost or stolen

Profits and losses:

In recent times, credit card portfolios have been very profitable for banks, largely due to the
booming economy of the late nineties. However, in the case of credit cards, such high returns go
hand in hand with risk, since the business is essentially one of making unsecured
(uncollateralized) loans, and thus dependent on borrowers not to default in large numbers.

Credit card numbering:

The card number's prefix, called the Bank Identification Number, is the sequence of digits at the
beginning of the number that determine the bank to which a credit card number belongs. This is
the first six digits for MasterCard and Visa cards. The next nine digits are the individual account
number, and the final digit is a validity check code.

In addition to the main credit card number, credit cards also carry issue and expiration dates
(given to the nearest month), as well as extra codes such as issue numbers and security codes.
Not all credit cards have the same sets of extra codes nor do they use the same number of digits.

Credit card in ATMs:

Many credit cards can also be used in an ATM to withdraw money against the credit limit
extended to the card, but many card issuers charge interest on cash advances before they do so on
purchases. The interest on cash advances is commonly charged from the date the withdrawal is
made, rather than the monthly billing date. Many card issuers levy a commission for cash
withdrawals, even if the ATM belongs to the same bank as the card issuer. Merchants do not
offer cash back on credit card transactions because they would pay a percentage commission of
the additional cash amount to their bank or merchant services provider, thereby making it
uneconomical.

Many credit card companies will also, do so at the end of a billing cycle, and apply those
payments to everything before cash advances. For this reason, many consumers have large cash
balances, which have no grace period and incur interest at a rate that is (usually) higher than the
purchase rate, and will carry that balance for years, even if they pay off their statement balance
each month.

DEBIT CARD:

A debit card (also known as a bank card or check card) is a plastic card that provides an
alternative payment method to cash when making purchases. Functionally, it can be called an
electronic cheque, as the funds are withdrawn directly from either the bank account or from the
remaining balance on the card. In some cases, the cards are designed exclusively for use on the
Internet, and so there is no physical card.

The use of debit cards has become widespread in many countries and has overtaken the cheque
and in some instances cash transactions by volume. Debit cards can also allow for instant
withdrawal of cash, acting as the ATM card for withdrawing cash and as a cheque guarantee
card. Merchants can also offer cash back/cash out facilities to customers, where a customer can
withdraw cash along with their purchase

CONTENTS:

 Credit or debit?

 Types of debit card

 Advantages of debit card

 Disadvantages of debit card

Credit or debit

The difference between a "debit card" and a "credit card" is that the debit card deducts the
balance from a deposit account, like a checking account, whereas the credit card allows the
consumer to spend money on credit to the issuing bank. The "debit" networks usually require
that a personal identification number (PIN) be supplied. The "credit" networks typically require
that purchases be made in person and often allow cards to be charged with only a signature,
and/or picture ID.
Types of debit cards:

There are currently three ways that debit card transactions are processed: online debit (also
known as PIN debit), offline debit (also known as signature debit) and Electronic Purse Card.

Online debit cards require electronic authorization of every transaction and the debits are
reflected in the user’s account immediately. One difficulty in using online debit cards is the
necessity of an electronic authorization device at the point of sale (POS) and sometimes also a
separate PIN pad to enter the PIN.

Offline debit cards have the logos of major credit cards or major debit cards and are used at the
point of sale like a credit card. Online debit purchasers are used to withdraw cash in addition to
the amount of the debit purchase

Prepaid debit cards, also called reloadable debit cards or reloadable prepaid cards, are often used
for recurring payments. Prepaid debit cards allow the delivery of international payments without
the delays and fees associated with international checks and bank transfers.

Advantages of debit cards

 Debit card is easy to obtain as compare to credit card

 Use of a debit card is limited to the existing funds in the account to which it is linked
therefore prevents the consumer from racking up debt as a result of its use, or being
charged interest, late fees, or fees exclusive to credit cards

 They are accepted by merchants with less identification and scrutiny than personal
checks, therefore make transactions quicker and less intrusive.

 A debit card may be used to obtain cash from an ATM or a PIN-based transaction at no
extra charge, other than a foreign ATM fee.

Disadvantages of debit cards

 Protection than credit cards Theft of the users PIN using skimming devices can be
accomplished much easier with a PIN input than with a signature-based credit transaction

 Many banks are now charging over-limit fees or non-sufficient funds fees based upon
pre-authorizations, and even attempted but refused transactions by the merchant (some of
which may not even be known by the client).

 In many places, laws protect the consumer from fraud much less than with a credit card.
While the holder of a credit card is legally responsible for only a minimal amount of a
fraudulent transaction made with a credit card, which is often waived by the bank
  Many merchants mistakenly believe that amounts owed can be "taken" from a customer's
account after a debit card (or number) has been presented, without agreement as to date,
payee name, amount and currency, thus causing penalty fees for overdrafts, over-the-
limit, amounts not available causing further rejections or overdrafts, and rejected
transactions by some banks.

INNOVATION AND DEVELOPMENT BY INDIAN BANKS

The credit card and debit card industry has experienced substantial change and consolidation.
The leading firms have introduced technologies, process innovations and business
improvements, which have affected volumes and often create new growth opportunities.
The history implies that the concept of plastic card is not new. History of debit card dates back
around 20 years ago which highlighted the introduction of e-commerce and alternative means of
payment.

History of debit card reflects the dominance of the debit card as a means of making payments,
becoming increasingly popular. This alternative means of payment is gradually gaining ground
with each passing year.

Back in 1990, the count of debit cards in circulation was around 19 million. In the initial years of
the debit card era witnessed steep growth and by the year 2006 there were as many as 27.8
million debit cards.

The increase in the number of debit cards have sharply declined owing to the fact that the market
is reaching a saturation point but that has not stopped debit card usage completely.

Statistically, history of debit card usage has followed a trend where one can expect the debit card
usage to rise by 9.2 billion with the spending capacity to go up by 400 million.

History indicates that the last 20 years have witnessed a radical change in the payment options
and the plastic card has replaced cash.

By January 2007 there were 22m credit cards in India. The number of debit cards was much
larger. However, the difference is potentially misleading, as it does not accurately reveal the
relative importance of credit and debit cards as payment mechanisms. Although there are fewer
credit than debit cards in circulation, the total volume and value of credit card transactions is
much higher. During the first ten months of fiscal 2006/07, for instance, the value of credit card
transactions reached Rs335bn (around US$7.4bn)—nearly five times higher than for debit cards.

Along with growth in the number of cards issued, the value of credit card transactions has risen
rapidly. The total value of such transactions almost doubled between 2003/04 and 2005/06, to
around Rs339bn. In the case of debit cards, the number of cards has risen fourfold since 2003/04,
but growth in the value of transactions has been much more modest, rising by 21% to reach
Rs59bn in 2005/06.
The latest available data, which covers the first ten months of 2006/07, indicate continued robust
growth, with the number of credit and debit cards rising by 28% and 41% respectively in year-
on-year terms. Over the same period, the value of credit card transactions grew by 20% and that
of debit card transactions increased by 38%.

RECENT INNOVATIONS IN CREDIT CARD AND DEBIT CARD

BUSINESS BY THE INDIAN BANKS

 (Virgin credit card)

This is a market leading balance transfer card with a 0% introductory period on balance transfers
for 16 months with a 2.98% balance transfer fee. Also use this card to get money off your
holidays

 (Halifax all in one)

This credit card is a very strong offer with a competitive 0% introductory period on purchases
and balance transfers for 9 months with 3% balance transfer fee

 ( AA credit card)

Attractive reward card, particularly for AA members. Members receive 2 points for every £1.00
spent on motoring costs and 1 point per £1.00 for other spending. Non-members receive 1 point
for every £2.00 spent. Balance transfers are interest-free until Jan 2011. Spend on motoring
products and services; fuel and AA products are interest free until Jan 2011"

 (MBNA platinum rewards card)

"A good alternative to a cash back card because reward points can be used at a wide range of
high street retailers including John Lewis, Boots and Debenhams. Earn 1 point for every £1.00
spent on the card. There is a 13-month 0% offer on balance transfers, but don’t use the card for
this purpose if you’ll spend on it as well: purchases are only interest-free for 3 months – you’ll
be charged 15.9% thereafter

 (Barclaycard platinum)

"A credit card with a low 14.9% APR plus 0% interest free on balance transfers until January
2011 (2.5% handling fee applies) and 0% interest on purchases for 3 months, both from
account opening

 (Lloyds TSB Air miles Duo)

This rewards card enables you to collect Air miles with your purchases and balance transfers
which give you one of the best Air miles rewards schemes in the market, plus collect double Air
miles when you spend abroad

 (Global classic credit card)

This card takes a flight to joy various privileges exclusively offered for the people:

1) WORLDWIDE ACCEPTANCE: The Indian Bank Global Classic Card is accepted

at over 30 million VISA Merchant Establishments around the world, including
150,000 Merchant Establishments in India.
2) CASH ADVANCE: can withdraw cash up to 40% of your Credit Limit subject to a
daily limit of Rs.25, 000/- at a very nominal charge. With over 800,000 VISA ATMs
worldwide
3) REVOLVING CREDIT: Gives financial flexibility for managing the finances.
People have to pay 5% of their total transaction amount plus finance charges and
revolve the balance at an attractive interest rate of 1.99% per month.
4) COMPREHENSIVE INSURANCE: With your Global Classic Card, the people are
secure, always. Its insurance package comprehensively covers against the various
risks you are exposed to.
 (IB maestro debit card)

Our 24 hour Hi-powered, value-added ATM cum Debit card, just the size of a visiting
card, is the passport to the facilities available with ATM and for shopping at Merchant
establishment. It brilliantly complements your ambitions, offering more value, more
excitement, more service, and more extras

Uses of maestro debit card:

 The Maestro Debit cards can be used for purchase of merchandize/services from
commercial establishments/service organizations that display the 'MasterCard /
Maestro / Cirrus' Logo. There are over 23 million POS terminals and 1 million ATMs
globally that accept Maestro Debit Cards. In India, over 1,50,000 POS terminals and
12000 ATMs are available that accept Maestro Debit Cards

Procedure for payment through Maestro Debit card:

The vendor swipes the card on the reader;

The purchaser enters the amount, type of account, viz., savings or current account,
followed by the secret pin number;
The transaction-approval is displayed on the reader;
The charge slip, in duplicate, is printed by the terminal and the purchaser has to sign on
both the slips;
One copy of the charge slip together with the bill is handed over to the card holder;
The vendor retains the second copy of the charge slip.

Cash withdrawal through maestro debit card:

Indian Bank ATM card/ Maestro Debit card can be used to withdraw cash at:

Indian Bank ATMs;

ATMs of Member Banks under sharing arrangement - 'MITR' (Punjab National Bank,
Oriental Bank of Commerce

ATMs of Member Banks under sharing arrangement - 'CASHTREE' (Bank of India,

United Bank of India, Union Bank of India, Syndicate Bank, Dena Bank, Bank of
Rajasthan, Bank of Maharashtra, Karnataka Bank and Indian Overseas Bank);

ATMs of Member Banks under sharing arrangement - 'National Financial Switch'

(Allahabad Bank, Bank of Baroda, City Union Bank, Corporation Bank, Development
Credit Bank, ICICI Bank, IDBI Bank, The Cosmos Cooperative Bank Ltd, The Jammu
and Kashmir Bank Ltd, The South Indian Bank Ltd., YES Bank Ltd.)
 ATMs of State Bank of India and its Associate Banks;

ATMs of Andhra Bank;

Indian Bank Maestro Debit Cards can also be used at ATMs of HDFC Bank, City Bank,
Standard Chartered Bank, HSBC Bank, etc., that accept MasterCard / Maestro / Cirrus

 (Global cum debit card)

 Provide on-line access to Savings Bank or Current accounts of South Indian Bank.
 Tied up with the world-renowned service provider, MasterCard International.
 Can be used in 8, 30,000 ATMs & 7 million Point Of Sale (POS) terminals worldwide.
 South Indian Bank being a member of NFS network, South Indian Bank cards are
acceptable in other member banks ATMs.
 Can be used in 31000+ ATMs in India.
 Global Cards are issued free of cost to the customers of South Indian Bank.
 Nominal fee is charged to the users at other Bank’s ATMs.
 Cash withdrawal limits through ATMs is up to Rs.20, 000/- per day.

 (privilege card)

This is multi-purpose debit card issued to an SIB privilege account holder.

All features of global ATM cum debit card available
The SIB-privilege card can be linked to any five SB accounts of the customer
On-line fund transfer up to Rs.1,00,000/.is allowed between these five accounts through
ATMs
The privilege card holders can withdraw money (free up to Rs.20, 000/-per day) at the
networked branches, by using the specially designed/personalized privilege cheques,
provided in the account.

Innovations in debit card by ICICI Bank

ICICI Bank HPCL Debit Card
As an ICICI Bank HPCL Debit Card holder, you get a waiver of 2.5% surcharge* for the
fuel transactions you make at HPCL pumps. This leads to more savings and more convenience.
All you have to do is to produce your ICICI Bank HPCL Debit Card at the HPCL petrol
pump, swipe it on an ICICI Bank Terminal only and save surcharge on your fuel purchases.

The ICICI Bank Smart Shopper Silver Debit Card

 Enjoy Silver privileges while shopping with your ICICI Bank Smart Shopper Silver Debit
Card. Avail attractive discounts for shopping, dining and more while you continue to enjoy all
the benefits that are yours with the ownership

The ICICI Bank Smart Shopper Gold Debit Card

Enjoy Gold privileges while shopping with your ICICI Bank Smart Shopper Gold Debit
Card. Avail attractive discounts for shopping, dining and more ,The Gold Card entitles you to a
high cash withdrawal and transaction limit

The ICICI Bank Visa Signature Debit Card

The ICICI Bank Visa Signature Debit Card comes with Signature privileges, conveniences
and benefits that invite you into the Signature life. For the first time in India, you as a Global
Private Client can look forward to a premium card that brings you a host of distinctive
experiential offerings in sync with your evolving lifestyle needs. High withdrawal limit &
transaction limit , Enjoy a high cash withdrawal limit of Rs.1.5 lac per day and transaction limit
of Rs.2.5 lac per day. It provides an Air accident insurance of Rs.30 Mn to ICICI Bank Visa
Signature Debit Card holders.

The ICICI Bank Platinum Debit Card

We are pleased to introduce ICICI Bank Platinum Debit Card, which comes packed with
comforts and conveniences. Your ICICI Bank Platinum Debit Card will entitle you to a number
of special discounts and conveniences and rewards like never before.

The ICICI Bank Titanium Debit Card

Introducing the ICICI Bank Titanium Debit Card packed with a host of benefits and special
privileges. Having this card in your wallet is like carrying your bank account with you wherever
you go. Enjoy unrestricted shopping, savings with special discounts, higher Reward Points
earnings and the complete security of not having to carry large amounts of cash around with you

Innovations in credit card by ICICI Bank

ICICI bank HPCL Gold credit card

 Refund of surcharge (2.5%) on fuel purchases at HPCL Outlets on ICICI Bank charge
slip only. Transactions above Rs.3,000 will not be eligible to a fuel surcharge waiver
 Earn 1 reward point on every Rs.200 spent on all purchases except on fuel purchases at
HPCL outlets.

ICICI Bank Preferred Gold Credit Cards

 Fuel surcharge waiver on fuel spends at select HPCL pumps (2.5 % of transaction value
or Rs.10, which ever is higher).
 Fabulous shopping deals & Delicious Dining Treats
 Double Reward Point on every Rs. 200/- spent on hotel stays, airline ticketing and dining.
 Travel Privileges
ICICI Bank Fixed Deposit Instant Credit Card

 Open an Fixed deposit with a minimum of Rs. 20000 /- with us and get an ICICI Bank
Gold credit card on the spot. This credit card will be linked to your Fixed Deposit .
 Lower Finance charges of 1.99 % pm.
 Fuel surcharge waiver on fuel spends at select HPCL pumps.(2.5 % of transaction value
or Rs. 10, which is higher.
 Credit limit will be 85 % of fixed deposit value ,subject to maximum of Rs. 3 lac.
 The Fixed deposit will be under lien with ICICI Bank till the time card holder wishes to
continue with the credit card.

Innovations by tying up with other business-

Book a ticket on Travelocity.com by using any ICICI credit card and

 Get Rs.300 off on domestic flight bookings

 Get Rs.750 off on international flight bookings
 Get Rs.1,000 off on hotel bookings

Special in innovative national offers on ICICI Bank Credit Cards

 Shop for Rs. 2,000 and get clothes worth Rs. 500 free at all Reliance Trends stores.
 Free consultation worth Rs. 1,200 at Dr. Batra’s homeopathy clinic
 Online Offer:
Flat 17.5% discount* on www.fnp.in

CHALLENGES

Challenges in credit card business

Research conducted in the previous year’s indicating that the global economic downturn is
weighing heavily on the growth of the card markets.

These are some of the challenges in credit card business:

 The most important challenge among them is legal and regulatory requirements, which is
followed by market infrastructure and readiness. Converting a marketplace full of
skeptical consumers is another challenge.
 Going after credit card opportunities in the international market require more than just an
understanding of the macro-economies and regulatory environments in each market.
  The value chains of the credit card industry in different markets tend to be complicated
and demand careful considerations in the designing of a credit card business model. For
example, in India no retailer can on its own have a prepaid card without partnering with a
bank as its bin provider.
 Credit card issuers are going through their most turbulent times since the introduction of
credit cards. Potential new legislation and regulation threatens to reshape their business
model and issuers are facing rising charge-offs.
 Credit card issuers deal with day to day challenges such as new customer acquisition,
card activation, and customer retention and card usage.
 The biggest challenge for a credit card business is increasing market share for personal
loans because people are more tended towards personal loans due to lower interest
charges and long duration of repayments.
 The another bigger challenge for credit card business is bankruptcy of card holder
because if customer doesn’t pay the amount in the grace period, the penalties and charges
are very high and it may derive a card holder to bankruptcy.

Challenges in debit card business

 Debit Card Scams

Debit cards now account for almost 60 percent of purchases made with plastic, and 90
percent of households with bank accounts have a linked debit card. The allure is obvious:
With a tap, swipe, or signature, you can pay for everything from postage stamps to a
fancy meal and have the money automatically withdrawn from your bank account. The
cards are equally alluring to scammers, who enjoy the ability to suck money from the
accounts of unsuspecting debit card customers. And once they start robbing you, it can be
nearly impossible to get them to stop. "Some people have had to close their accounts to
stop being billed," says Alison Southwick of the Better Business Bureau headquarters in
Arlington, Va. "It's a bit of a nuclear option, but for some, that's the only way that worked

 Threats of substitute –many of the banks are offering credit cum debit card at lower
interest rate; in future it may keep lowering which may substitute debit cards and its
usage.
  Security threats- In some countries debit cards offer lower levels of security protection
than credit cards. Theft of the users PIN using skimming devices can be accomplished
much easier with a PIN input than with a signature-based credit transaction. However,
theft of users' PIN codes using skimming devices can be equally easily accomplished
with a debit transaction PIN input, as with a credit transition PIN input, and theft using a
signature-based credit transaction is equally easy as theft using a signature-based debit
transaction In many places, laws protect the consumer from fraud much less than with a
credit card. While the holder of a credit card is legally responsible for only a minimal
amount of a fraudulent transaction made with a credit card, which is often waived by the
bank, the consumer may be held liable for hundreds of dollars, or even the entire value of
fraudulent debit transactions. The consumer also has a shorter time (usually just two
days) to report such fraud to the bank in order to be eligible for such a waiver with a debit
card, whereas with a credit card, this time may be up to 60 days. A thief who obtains or
clones a debit card along with its PIN may be able to clean out the consumer's bank
account, and the consumer will have no recourse.

 Operating costs

This is the cost of running the debit card portfolio, including everything from paying the
executives who run the company to printing the plastics, to mailing the statements, to running the
computers that keep track of every cardholder's balance, to taking the many phone calls which
cardholders place to their issuer, to protecting the customers from fraud rings. Depending on the
issuer, marketing programs are also a significant portion of expenses.

 Rewards and Promotion expenses

Promotional purchase is any purchase on which separate terms and conditions are set on each
individual transaction unlike a standard purchase where the terms are set on the cardholder’s
account record and their pricing strategy. All promotional purchases that post to a particular
account will be carrying its own balance called as Promotional Balance. Companies rewards its
card holders under various promotional schemes, and companies spending on this part is
increasing because of market saturation.

Opportunities

Opportunities in debit card business

Debit cards have the potential to boost sales debit card business opportunities supply a important
need for the success of the business - the ability for the customer to pay immediately and without
a hassle.

Some of the opportunities are:

 Reduce the need for checks and cash for increased purchasing flexibility, convenience,
and safety because it Automatically deduct funds from your business checking account-
no, show identification, No need to carry extra cash and Get authorization for immediate
shipment of any mail, phone, or Internet orders.
 Increase the money management capabilities with easier and more accurate record
keeping because it helps to get a receipt with every purchase to better keep track of
spending, Reduce the need to use personal funds for business purchases and set spending
controls for employees.
 Protect against unauthorized purchases by purchase assurance and extended warranty,
travel services medical protection, master rental insurance coverage and by master card
VAT (value added tax) reclaim service.
 Insure and protect the business with extensive business and travel services.

 Today, convenience is a major source of enticing customers to return, and accepting

payments by debit or credit are a major source of convenience. Especially if you have an
online, ecommerce or Internet businesses, you probably have a way for people to shop
online. Online shopping is a growing enterprise and a major part of business for many
companies. People like the ability to shop for anything - from boating accessories to
socks - right in their own homes at their own convenience. Wake up in the middle of the
night and can't sleep?

 For some people, it's an opportunity to log on and browse through their favorite stores.
Debit card business opportunities that include accepting credit and debit cards have such
a potential to boost your sales. If you're one of those people who wants to shop online,
finding companies that will accept your credit or debit card may be the first thing you
look for. Instead of thinking that a particular online store would be a great place to shop,
you look for online stores that accept some easy payment method. That's why debit card
business opportunities are so sought after.

 If you're looking to boost your sales, increase traffic on your website or encourage return
customers, you need several things. You need websites that are easily found and easy to
navigate. You also need products that attract attention and that are in great demand. But
even if you have both of these, you still may have little business if people are going to
have to write a check or purchase a money order and make an order by mail. Some
people find mailing such a chore that they'll find a place to purchase their items in person
before they take that step. So debit card business opportunities supply a third important
need for the success of your business - the ability for the customer to pay immediately
and without a hassle.
Opportunities in credit card business:

There are numerous credit card business opportunities that will allow consumers to make a profit
working either full time or part time. Some of these opportunities actually involve selling cards
to friends and associates. There are companies that will provide an individual with all the
information needed to set up the credit card business opportunity and sign friends up.

Some of the opportunities are listed below:

 Company will pay referral fee if someone is approved to receive a credit card.
 It helps the entrepreneur to make money through the credit card business opportunity as
people in turn refer more people because the more people that signs up, and the more
people they refer, the more money a person can make i.e. the potential for making a profit
grows as more people are known and contacted.
 Another opportunity involves selling credit cards to local business for an individual
working with this opportunity
 To the consumer, a credit card is more secure than cash and easier to keep track of. The
consumer can add money to it as necessary and it's accepted at almost any retailer, using
these benefits as selling points to market the credit cards to local retailers makes the
individual’s job easy with these credit card business opportunities.

 There are numerous credit card business opportunities that will allow consumers to make
a profit working either full time or part time. Some of these opportunities actually involve
selling cards to friends and associates. There are companies that will provide an
individual with all the information needed to set up the credit card business opportunity
and sign friends up. If doesn't matter what a persons financial history is; good or bad
records do not matter. If someone is approved to receive a credit card through the
individual, the company will pay a 'referral' fee. As those friends in turn refer more
people, the entrepreneur will also make money through this credit card business
opportunity. The more people that sign up, and the more people they refer, the more
money a person can make. The idea is to be the first person to start this venture in a
 community or circle of influence. The potential for making a profit grows as more people
are known and contacted. Eventually, a person won't even have to do anything; the others
will be doing all the work and the original program member will reap the benefits

 The other option for an individual working with this opportunity involves selling prepaid
credit cards to local business. With the advent of other prepaid businesses such as prepaid
calling cards and cell phones, the idea of prepaid accounts was not far behind. Most
businesses will find these very appealing because they do not have to worry about being
paid. They are just like cash for the merchant. This credit card business opportunity might
be just what they are looking for. To the consumer, a prepaid account is more secure than
cash and easier to keep track of. The consumer can add money to it as necessary and it's
accepted at almost any retailer. Using these benefits as selling points to market the credit
cards to local retailers makes the individuals job easy with these credit card business
opportunities.

 Most ventures can be started online by filling out a form and contacting the company.
Putting forth a little concerted effort will allow an individual to be on the way to earning
the extra money they are looking for with your credit card business opportunities. Very
little, if any, money is required to get started in this exciting career. "The God of heaven,
he will prosper us; therefore we his servants will arise and build." (Nehemiah 2:20)

Conclusion
“There is a huge potential for future growth in the Indian debit card market as consumers,
to a large extent, are not comfortable with using credit cards which serves a plus point for
the debit card players. The industry will have to work hard to educate people about the
benefits of using debit cards and will have to give some form of incentives to promote the
usage of debit cards, added the Analyst.
“Indian Payment Card Market Forecast to 2012” provides analytical study of the payment
card market, including debit cards and credit cards, in India. The report has thoroughly
studied the impact of current economic downturn and provides unbiased data and
rationale analysis of the Indian payment card market till 2012. It will help clients to
identify the market trends and evaluate the leading-edge opportunities critical to the
success of the payment card market.