HSBC and Woolworths in credit partnership
HSBC Bank has today announced it will partner with Woolworths to develop a general purpose credit card for Australians later this year.
The two companies have entered a Heads of Agreement and are expected to enter a formal alliance within the first quarter of 2008.
Commenting on the move, HSBC Bank chief Stuart Davis said the firm manages more than 125 million credit cards worldwide, with established co-branded and white label alliances with over 100 companies.
“Global cards expertise and scale is critical to effective performance of products like credit cards and consumer finance and as one of the world’s largest banks, HSBC brings that global strength to this relationship,” he said.
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