NEWS: Visa to splash out on launch of its electronic cash

Visa International is to pump an estimated pounds 300,000 into a PR campaign to launch its electronic cash system, Visa Cash.

Visa International is to pump an estimated pounds 300,000 into a PR

campaign to launch its electronic cash system, Visa Cash.



The company hired Text 100 to handle the UK launch last month after

seeing pitches from two other agencies: Cohn and Wolfe and The Red

Consultancy.



The card, which contains a microchip on which money is stored

electronically, is a direct rival to the NatWest-backed Mondex system.

However, Text 100 associate director Aedhmar Hynes, who is leading an

eight-strong team on the business, said Visa Cash was distinct from

Mondex in that it was being positioned alongside cash rather than as a

substitute.



Visa already has pilot schemes running in Canada, Argentina, Colombia,

Australia, New Zealand, Hong Kong and Spain. The card was also trialled

at the Olympic Games in Atlanta. A UK pilot is due to run next summer

with five banks and building societies including Barclays, Lloyds/TSB

and the Halifax.



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