Plastic card market TENDENCIES

Maka Ghaniashvili

According to National Bank of Georgia, the number of emitted plastic cards in circulation made up 3.6 million by the data of Aug-2009.

This showing is 16% more than the showing of the same period in 2008. The percentage correlation of debit and credit cards is 89.8% and 10.2%.
Eighty-two percent of the plastic cards in circulation are VISA cards, EURO CARD and MASTER CARD made up 11.5%, and the rest of plastic cards amount 6.5%. By the condition of Aug-2009, the volume of plastic card operations made by resident issuer banks made up GEL 353, 7 million, the same showing in 2008 was GEL 317.4 million, therefore, 11.4% increase n volume is observed. In Aug-2009, the volume of operations performed via ATMs and POS terminals made up GEL 350 million. 94.8% of operations performed via the cards emitted by resident issuers were domestic operations, while 5.2% are operations were performed abroad by the same cards.
There is a novelty at plastic cards market of Georgia. Bank of Georgia started emitting of American Express Cards and American Express Gold Cards. American Express Cards are available for those, whose salary amounts or exceeds GEL 400, while the Gold Card is designed for high-yielding segment.
Owner of above-mentioned cards will be automatically involved in the world-scale program of American Express – Membership Rewards program. The program enables card owners to get scores and exchange them on various touristic and retail sales services or products.
American Express offers to Georgian consumers a completely new service and numerous benefits that are associated with the brand and its products all over world. Card owners will gain scores every time they use American Express cards; using cards for shopping is even beneficial rather than just drawing cash from ATMs as the scores are tripled in this case. This enables clients to exchange scores for desirable goods and services more rapidly. There is no expiry term for accumulated scores and card owner can receive various exclusive travel packages, airline tickets, spa services, and modern electric devices, watches of famous brands or cosmetics.
American Express Gold Card will have an opportunity to get high quality touristic service and enjoy exclusive travel offers from Gold Travel Service.
Gold Travel Service is a team of expert consultants of tourism that are experiences in planning of every stage of traveling. At the same time, travel and medical insurances protect card owners from losses and medical expenses while traveling abroad. Travel Inconvenience Insurance offers to the owners of American Express Gold cards insurance of main expenses, such as delayed or cancelled flights, baggage lost etc. Insurance also enables to make application on Shengen visa without taking additional expenses.
Products purchased in brand or online shops via American Express are automatically insured from theft and damage. Cardholders are also enjoying protection from fraud and they take no expenses in case of card lose or theft. American Express clients will be able to enjoy high line of credit with 55 days without any interest rates.
Cardholders will be able to cash money in any Bank of Georgia ATM and in over 800,000 ATMs all over the world. Bank of Georgia is planning to emit 100,000 cards this year.
American Express Company was founded in 1850Y. A diversified company offers travel, financial and network services in whole world. American Express is a leader company in the field of various credit cards, travel cheques, travel and business services. The company has 129 representative offices at 128 world markets.