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
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
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.