Credit Cards Reinvented
Right now, the credit cards business is a fascinating place to be in. Let’s imagine if, Chase has teamed up with a number of airlines to establish co-branded credit cards that provide new users with a special welcome bonus that is redeemable on their next foreign journey. SBI, India's largest public sector bank, has teamed with Fabindia, a lifestyle brand, to provide a co-branded, contactless credit card to premium clients. Another major Indian private bank, ICICI Bank, has partnered with Amazon Pay to develop a contactless card that has already attracted two million users. The banking and financial services industry is changing at a breakneck rate, and the credit cards industry is no exception. Customers are moving away from cash, and new digital payment models are emerging, therefore the credit card industry must reinvent itself to stay competitive. The concept of buying and selling with the help of worthless instruments dates back to the dawn of human civilization. Since then,...