Westpac launches business debit card
(23 January 2008 – Australia) Westpac has launched a Business Debit MasterCard card, the first such debit MasterCard card program specifically aimed at the business segment in Australia.
The bank said the card would start to take the place of cheques in cashless business transactions, making payments quicker and more secure.
Westpac business financial services group executive, Peter Hanlon, said he believed the new product could potentially change the transaction habits of small businesses.
He said the biggest issues facing SMEs were managing cash flow and dealing with red tape and administrative tasks.
He said the new debit card would make it easier for businesses to reduce their reliance on debt and help them manage cash flow.
MasterCard Worldwide executive vice president, Australasia, Leigh Clapham, said the new debit card would enable Australian SMEs to reconcile every transaction back to the individual cardholder.
Westpac business financial services group executive, Peter Hanlon, said he believed the new product could potentially change the transaction habits of small businesses.
He said the biggest issues facing SMEs were managing cash flow and dealing with red tape and administrative tasks.
He said the new debit card would make it easier for businesses to reduce their reliance on debt and help them manage cash flow.
MasterCard Worldwide executive vice president, Australasia, Leigh Clapham, said the new debit card would enable Australian SMEs to reconcile every transaction back to the individual cardholder.
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