Mini-cards not a hit

July 31, 2007 in Banking and Finance, Youth

<p>Mini-cards (40 mm by 66mm) that can be attached to key chains, mobile phones and other devices have received only a lukewarm response by the Indian youth. Major banks like Standard Chartered, ICICI and Citibank have pulled back their efforts at marketing the mini-cards but HDFC Bank still believes that mini-cards have strong potential in the Indian markets. </p><blockquote><p>
According to Parag Rao, VP (products and
portfolio), HDFC bank, there are roughly 8 to 8.5 lakh such cards in the market,
out of which they occupy a market share of more than 60%. “We believe
there is a great market for this niche product. In another four-five years, we
expect mini cards to occupy 5% share of credit card industry,” says Rao – Economic Times</p></blockquote><p>Read more <a href=”http://economictimes.indiatimes.com/Mini_cards_fail_to_charm_Indians/articleshow/2241488.cms”>here. </a><br /></p>