Citi (bank) halts plans to issue credit cards after regulator cuts fees

21.11.2011                      24.Cheschwan. 5772

Kreditkarten:

Citi (bank) halts plans to issue credit cards after regulator cuts fees

If it had carried out the move, it would have brought fresh competition to a business dominated by three companies – Isracard, which belongs to Bank Hapoalim; Leumi Card, which belongs to Bank Leumi; and Visa CAL, which belongs to Discount Bank.

American banking giant Citi has reversed its decision to launch lending and credit-card activity in Israel for the general public.
Just five months ago, Citi Israel decided to expand its services to the general public, with the intention of issuing credit cards not affiliated with any Israeli bank. Any client of an Israeli bank could apply for the Citi-branded cards, according to the plan. Through the cards, Citi was also preparing to lend money to the general public….