(Australia) – Sir Richard Branson’s Virgin group is set to add credit cards to its suite of Australian business interests, and become one of the first non-bank competitors to enter the card market.The Virgin card is expected to be launched in May, and is likely to be issued by MBNA and branded by Virgin.
Virgin’s UK credit card has so far been the group’s most successful financial product, and has attracted around 200,000 customers since its launch 15 months ago.
Virgin’s financial unit, Virgin Money, is a joint venture with Australia’s AMP but the embattled group is planning to exit the venture.