Advanzia Bank today announced their new status as a Principal Member of Visa for credit card issuing, an important milestone in diversifying the bank’s product portfolio
Luxembourg, September 16th, 2019 – Visa (NYSE: V) and Advanzia Bank are proud to announce their new partnership, strengthening Visa's issuer network and underlining Advanzia's ambition to expand its credit card offering.
In the scope of the ongoing migration of the Catella bank card portfolio that Advanzia acquired earlier this year, the Visa card portfolio will be integrated into Advanzia's professional card services platform, a servicing solution for financial institutions and private banks.
Roland Ludwig, Advanzia's Chief Executive Officer, comments: “This partnership with Visa represents a new strategic direction for Advanzia. The addition of Visa cards to our portfolio ensures that Advanzia continues to offer our partner banks the broadest possible product range in this market segment."
“We are proud of this new partnership in the private banking market. Thanks to our payment network and expertise, we believe that Visa brings high-quality service and innovative payment solutions to the table, enabling issuers such as Advanzia to offer exclusive benefits that fit perfectly with their cardholders' needs," says Jean-Marie de Crayencour, Country Manager for Belgium and Luxembourg at Visa.
Advanzia's credit card solutions for private banks and financial institutions range from personalised white label cards to co-branded turnkey programmes under its own Omnium and Capitol brands. Outsourcing credit card operations to Advanzia offers a complete servicing solution with minimal administration for the partner bank.
Visa Inc. (NYSE: V) is the world's leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company's relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNewsEurope.
About Advanzia Bank
Founded in 2005 in Luxembourg, Advanzia Bank S.A. is a European online bank specialising in credit cards and payment solutions. With 1.4 million credit card customers, the bank achieved a turnover of EUR 2.9 billion in 2018. Advanzia is a leading online credit card issuer in Germany and has a strong presence in Luxembourg, Austria, France and Spain. As well as issuing credit cards under its own brands, the bank also partners with over 220 companies, associations and financial institutions who use Advanzia co-branded credit cards to create competitive advantage.