Europay International is rolling out a business-to-business Eurocard-MasterCard distribution card to suppliers across Europe to simplify the collection of low-value frequent payments for retail products.
Suppliers of retail outlets such as small grocery stores or pharmacies will be able to issue the Eurocard-MasterCard distribution card, in association with their bank, to retailer customers to replace payment by cash or cheque.
The card will speed payments collection and product delivery processes, and will also provide a platform for loyalty schemes and special offers, says Europay.
The distribution card has already been rolled out in Turkey as the Ortak Kart by Garanti Bank. Mehmet Sezgin, general manager of Garanti payment systems says: “This new product will be extremely useful for customers who are searching for methods to increase sales and control operational expenses. We have faced an ever-increasing demand for the product especially from multinationals that deal with local companies."
The bank aims to issue 10,000 Ortak cards by the end of the year, with a revenue target of six million dollars.