33443896 Plastic Money Data

7/21/2019 33443896 Plastic Money Data

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Executive summary

Plastic Money business is definitely going big time here in Pakistan. In a country

where two years back people have hardly heard the word plastic money or creditcard, more than 7000 merchants are accepting above 10,000 cards.

It has been estimated that there are likely to be around half million potential cardusers in the near future. !his forecasting derives credibility from the fact that moreand more local and international financial institutions are e"hibiting enthusiasm inthis direction. !his in turn reflects prospects in Pakistan market in accommodatingnumerous credit card competitors operating on the circuit, ensuring healthy andcompetitive card business deals #o we have also made our pro$ect on this topic our

pro$ect includes

%istory of money

&eneral !ypes of Plastic money

&lobal players in credit cards

#cenario of plastic money in pakistan

'nalysis of banking products

(ank 'lfalah limited

#tandered chartered bank

#urvey

#)*! analysis

BARTER:

!he first people didn+t buy goods from other people with money. !hey used barter. (arter is thee"change of personal possessions of value for other goods that you want. !his kind of e"change


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started at the beginning of humankind and is still used today. -rom ,000/,000 (.., livestockwas often used as a unit of e"change. 2ater, as agriculture developed, people used crops for barter.-or e"ample, I could ask another farmer to trade a pound of apples for a pound of bananas.

SHELLS:

't about 100 (.. in hina, cowry shells became the first medium ofe"change, or money. !he cowry has served as money throughouthistory even to the middle of this century.

FIRST METAL MONEY:hina, in 1,000 (.., produced mock cowry shells at the end of the#tone 'ge. !hey can be thought of as the original development of metalcurrency. In addition, tools made of metal, like knives and spades, were alsoused in hina as money. -rom these models, we developed today+s roundcoins that we use daily. !he hinese coins were usually made out of basemetals which had holes in them so that you could put the coins together to

make a chain.

SILVER:'t about 300 (.., pieces of silver were the earliest coins. 4ventually in time they took theappearance of today and were imprinted with numerous gods and emperors to mark their value.!hese coins were first shown in 2ydia, or !urkey, during this time, but the methods were used overand over again, and further improved upon by the &reek, Persian, Macedonian, and 5omanempires. 6ot like hinese coins, which relied on base metals, these new coins were composedfrom scarce metals such as brone, gold, and silver, which had a lot of intrinsic value.

LEATHER CURRENCY:In 118 (.., banknotes in the form of leather money were used in hina. *ne/foot s9uare pieces ofwhite deerskin edged in vivid colors were e"changed for goods. !his is believed to be thebeginning of a kind of paper money.

NOSES::uring the ninth century '.:., the :anes in Ireland had an e"pression ;!o pay through the nose.;It comes from the practice of cutting the noses of those who were careless in paying the :anishpoll ta".

AER CURRENCY:

-rom the ninth century to the fifteenth century '.:., in hina, the first actual paper currency wasused as money. !hrough this period the amount of currency skyrocketed causing severe inflation.


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leaders> community status, potlach went out of control as the gifts became more e"travagant in aneffort to surpass others+ gifts.

!AMUM:In 13=3, though likely well before this earliest recorded date, strings of beads made from clam

shells, called wampum, are used by 6orth 'merican Indians as money. Wampum means white, thecolor of the clam shells and the beads.

"OL# STAN#AR#:In 181, 4ngland made gold a benchmark of value. !his meant that the value of currency waspegged to a certain number of ounces of gold. !his would help to prevent inflation of currency.!he


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modern '!M. !he idea came to him in 18 while waitingin line at a :allas bank, after which he proposed a pro$ectto develop an '!M to his employer, :ocutel. ' ma$orpart of the development process involved adding amagnetic stripe to a plastic card and developing standards

to encode and encrypt information on the stripe. ' workingversion of the :ocutel '!M was sold to 6ew Bork>shemical (ank, which installed it in 1 at its 5ockvilleenter @2ong Island, 6.B.A*ffice 'lthough the :ocutel'!M did use the modern magnetic stripe access card, the technology remained primitive comparedwith today>s. !he :ocutel '!M only dispensed cash and was an offline machine. !o enablepayment processing, the machine printed a transaction record that was MI5 encoded.(y the early 170s, '!M technology advanced to the system we know today. '!Ms were firstaccessed primarily with credit cards, but in 17, ity 6ational (ank of leveland successfullyintroduced a card with an '!M but not a credit function. '!Ms were developed that could takedeposits, transfer money from checking to savings or savings to checking, provide cash advances

from a credit card, and take payments.

ATM CAR#:'n '!M card @also known as a bank card, client card, key card or cash cardA is anI#*CI4 7810card issued by abank,credit unionorbuilding society.It can be usedD

at an '!Mfor deposits, withdrawals, account information, and other types of transactions,

often through inter bank networks

at a branch, as identification for in/person transactions

at merchants, for 4-!P*# @point of saleA purchases


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'n automated teller machine @'!MA is a computeriedtelecommunications device that provides the customers of afinancial institution with access to financial transactions inpublic space without the need for a human bank teller onmost modern '!Ms, the customer is identified by inserting

a plastic '!M card with a magnetic stripe or a plasticsmartcard with a that contains a uni9ue card number andsome security information, such as an e"piration date or#ecurity is provided by the customer entering a

identification number; personal identification number@PI6A.


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!he history of debit card implies that the concept of debit card is not new. %istory of debit carddates back around 0 years ago which highlighted the introduction of e/commerce and alternativemeans of payment.

#EBIT CAR#:

' debit card @also known as a bank card or check cardA is a plastic card which provides analternative payment method to cashwhen making purchases. -unctionally, it can be called anelectronic check, as the funds are withdrawn directly from either the bank account, or from theremaining balance on the card. In some cases, the cards are designed e"clusively for use on theInternet, and so there is no physical card.!he use of debit cards has become widespread in many countries and has overtaken the check andin some instances cash transactions by volume. 2ike credit cards, debit cards are used widely fortelephone and Internet purchases, and unlike credit cards the funds are transferred from the bearer+sbank account instead of having the bearer to pay back on a later date.:ebit cards can also allow for instant withdrawal of cash, acting as the '!M cardfor withdrawingcash and as a che9ue guarantee card. Merchants can also offer ;cashbackCcashout; facilities to

customers, where a customer can withdraw cash along with their purchase.

TYES OF #EBIT CAR#:!here are currently three ways that debit card transactions are processedE 'lthough many debitcards are of the Fisaor Masterardbrand, there are many other types of debit card, each acceptedonly within a particular country or region.

online debit card/PI6 debit

offline debit cardCsignature debit

4lectronic Purse ard

ONLINE #EBIT CAR#:*nline debit cards re9uire electronic authoriation of every transaction and the debits arereflected in the user>s account immediately. !he transaction may be additionally secured withthepersonal identification number@PI6Aauthenticationsystem and some online cards re9uiresuch authentication for every transaction, essentially becoming enhanced automatic tellermachine @'!MA cards. *ne difficulty in using online debit cards is the necessity of anelectronic authoriation device at thepoint of sale@P*#A and sometimes also a separate PI6padto enter the PI6, although this is becoming commonplace for all card transactions in manycountries. *verall, the online debit card is generally viewed as superior to the offline debit cardbecause of its more secure authentication system and live status, which alleviates problemswith processing lagon transactions that may have been forgotten or not authoried by theowner of the card.

OFFLINE LINE #EBIT CAR#:*ffline debit cards have the logosof ma$or credit cards @e.g. Fisaor MasterardA or ma$ordebit cards @e.g. Maestroin the


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daily limit, andCor a ma"imum limit e9ual to the currentCchecking account balance from whichit draws funds. !ransactions conducted with offline debit cards re9uire H= days to be reflectedon users> account balances. In some countries and with some banks and merchant serviceorganiations, a ;credit; or offline debit transaction is without cost to the purchaser beyond theface value of the transaction, while a small fee may be charged for a ;debit; or online debit

transaction @although it is often absorbed by the retailerA. *ther differences are that online debitpurchasers may opt to withdraw cash in addition to the amount of the debit purchase @if themerchant supports that functionalityAE also, from the merchant+s standpoint, the merchant payslower fees on online debit transaction as compared to ;credit; @offlineA debit transactions.

ELECTRONIIC URSE CAR#:#mart/card/based electronic purse systems @in which value is stored on the card chip, not in ane"ternally recorded account, so that machines accepting the card need no network connectivityAwere tried throughout 4urope from the mid/10s, most notably in &ermany, 'ustria, (elgium,!he ma$or boom in smart card use came in the 10s, with the introduction of the smart/card/based #IM used in M mobile phone e9uipment in 4urope. )ith the ubi9uity of mobile

phones in 4urope, smart cards have become very common.':F'6!'&4# '6: :I#':F'6!'&4#

':F'6!'&4#D

:ebit and check cards, as they have become widespread, have revealed numerous advantages anddisadvantages to the consumer and retailer alike. 'dvantages are as followsE

' consumer who is not credit worthy and may find it difficult or impossible to obtain a

credit card can more easily obtain a debit card, allowing himCher to make plastictransactions.


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#ISA#VANTA"ES:

!he :ebit card has many disadvantages as opposed to cash or creditD

#ome banks are now charging over/limit fees or non/sufficient funds fees based upon pre/

authoriations, and even attempted but refused transactions by the merchant @some ofwhich may not even be known by the clientA.

Many merchants mistakenly believe that amounts owed can be ;taken; from a customer+s

account after a debit card @or numberA has been presented, without agreement as to date,payee name, amount and currency, thus causing penalty fees for overdrafts, over/the/limit,amounts not available causing further re$ections or overdrafts, and re$ected transactions bysome banks.

In some countries debit cards offer lower levels of security protection than credit cards J.

!heft of the users PI6 using skimming devices can be accomplished much easier with a

PI6 input than with a signature/based credit transaction. %owever, theft of users+ PI6 codesusing skimming devices can be e9ually easilyaccomplished with a debit transaction PI6input, as with a credit transaction PI6 input,and theft using a signature/based credittransaction is e9ually easy as theft using asignature/based debit transaction.

In many places, laws protect the

consumer from fraud a lot less than witha credit card. )hile the holder of a credit

card is legally responsible for only aminimal amount of a fraudulenttransaction made with a credit card,which is often waived by the bank, theconsumer may be held liable forhundreds of dollars in fraudulent debittransactions. !he consumer also has a much shorter time @usually $ust two daysA to reportsuch fraud to the bank in order to be eligible for such a waiver with a debit cardJ, whereaswith a credit card, this time may be up to 0 days. ' thief who obtains or clones a debitcard along with its PI6 may be able to clean out the consumer+s bank account, and theconsumer will have no recourse.

In the


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)hen a transaction is made using a credit card, the bank+s money is being spent, and

therefore, the bank has a vested interest in claiming its money where there is fraud or adispute. !he bank may fight to void the charges of a consumer who is dissatisfied with apurchase, or who has otherwise been treated unfairly by the merchant. (ut when a debitpurchase is made, the consumer has spent hisCher own money, and the bank has little if any

motivation to collect the funds.

In some countries, and for certain types of purchases, such as gasoline@via apay at the

pumpsystemA, lodging, orcar rental, the bank may place a hold on funds much greater thanthe actual purchase for a fi"ed period of time J. %owever, this isn+t the case in othercountries, such as #weden.


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CR#EIT CAR#SHISTORY OF CRE#IT CAR#:

CRE#IT CAR#:' cre%it car%is part of a system ofpaymentsnamed after the smallplasticcard issued to users ofthe system. It is a card entitling its holder to buy goods and services based on the holder+s promiseto pay for these goods and services. !he issuer of the card grants a line of creditto the consumer@or the userA from which the user can borrow money for payment to a merchantor as a cashadvanceto the user.' credit card is different from a charge card,where a charge card re9uires the balance to be paid infull each month. In contrast, credit cards allow the consumers to +revolve+ their balance, at the costof having interestcharged. Most credit cards are issued by localbanksor credit unions,and are theshape and sie specified by the I#*CI4 7810standard as I:/1.

HO! CRE#IT CAR#S !OR&$redit cards are issued after an account has been approved by the credit provider, after whichcardholders can use it to make purchases atmerchantsaccepting that card.)hen a purchase is made, the credit card user agrees to pay the card issuer. !he cardholderindicates consent to pay by signing areceiptwith a record of the card details and indicating theamount to be paid or by entering apersonal identification number@PI6A. 'lso, many merchants

now accept verbal authoriations via telephone and electronic authoriation using the Internet,known as a +ardCardholder 6ot Present+ @6PA transaction.4lectronicverificationsystems allow merchants to verify that the card is valid and the credit cardcustomer has sufficient credit to cover the purchase in a few seconds, allowing the verification tohappen at time of purchase. !he verification is performed using a credit card payment terminalorPoint of #ale@P*#A system with a communications link to the merchant+s ac9uiring bank. :atafrom the card is obtained from amagnetic stripeor chipon the cardE the latter system is in the


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@typically at a much higher rate than most other forms of debtA. #ome financial institutions canarrange for automatic payments to be deducted from the user+s bank accounts, thus avoiding latepayment altogether as long as the cardholder has sufficient funds.

INTEREST CHAR"ES:

redit card issuers usually waive interest charges if the balance is paid in full each month, buttypically will charge full interest on the entire outstanding balance from the date of each purchaseif the total balance is not paid.

-or e"ample, if a user had a ?1,000 transaction and repaid it in full within this grace period, therewould be no interest charged. If, however, even ?1.00 of the total amount remained unpaid, interestwould be charged on the ?1,000 from the date of purchase until the payment is received. !heprecise manner in which interest is charged is usually detailed in a cardholder agreement whichmay be summaried on the back of the monthly statement.

!he credit card may simply serve as a form of revolving credit,or it may become a complicatedfinancial instrument with multiple balance segments each at a different interest rate, possibly witha single umbrella credit limit, or with separate credit limits applicable to the various balancesegments.


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"RACE ERIO#:

' credit card+s grace period is the time the customer has to pay the balance before interest ischarged to the balance. &race periods vary, but usually range from 0 to 0 days depending on thetype of credit card and the issuing bank. #ome policies allow for reinstatement after certain

conditions are met.


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sometimes together with other information. #ome shops use the card+s PI6 for identification, andin that case showing an I: card is not necessary.

COSTS TO MERCHANTS :

Merchants are charged many fees for the privilege of accepting credit cards. !he merchant may becharged a discount rateof 1/=L of each transaction obtained through a credit card.


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'n association of card/issuing banks such asFisa, Masterard,:iscover, 'merican 4"press,etc. that set transaction terms for merchants, card/issuing banks, and ac9uiring banks.

TRANSACTION NET!OR&!he system that implements the mechanics of the electronic transactions. May be operated by

an independent company, and one company may operate multiple networks.

AFFINITY ARTNER:#ome institutions lend their names to an issuer to attract customers that have a strong relationshipwith that institution, and get paid a fee or a percentage of the balance for each card issued usingtheir name. 4"amples of typical affinity partners are sports teams, universities, charities,professional organiations, and ma$or retailers.

!he flow of information and money between these parties N always through the card associationsN is known as the interchange, and it consists of a few steps.

TRANSACTION STES

AUTHORI(ATION :!he cardholder pays for the purchase and the merchant submits the transaction to the ac9uirer@ac9uiring bankA. !he ac9uirer verifies the credit card number, the transaction type and theamount with the issuer @ard/issuing bankA and reserves that amount of the cardholder+s creditlimit for the merchant. 'n authoriation will generate an approval code, which the merchantstores with the transaction.

BATCHIN" :'uthoried transactions are stored in ;batches;, which are sent to the ac9uirer. (atches are

typically submitted once per day at the end of the business day. If a transaction is not submittedin the batch, the authoriation will stay valid for a period determined by the issuer, after whichthe held amount will be returned back to the cardholder+s available credit @see authoriationholdA. #ome transactions may be submitted in the batch without prior authoriationsE these areeither transactions falling under the merchant+s floor limitor ones where the authoriation wasunsuccessful but the merchant still attempts to force the transaction through. @#uch may be thecase when the cardholder is not present but owes the merchant additional money, such ase"tending a hotel stay or car rental.A

CLEARIN" AN# SETTLEMENT :!he ac9uirer sends the batch transactions through the credit card association, which debits the

issuers for payment and credits the ac9uirer. 4ssentially, the issuer pays the ac9uirer for thetransaction.

FUN#IN":*nce the ac9uirer has been paid, the ac9uirer pays the merchant. !he merchant receives theamount totaling the funds in the batch minus the ;discount rate,; which is the fee the merchantpays the ac9uirer for processing the transactions.
http://en.wikipedia.org/wiki/Visa_(company)http://en.wikipedia.org/wiki/Visa_(company)http://en.wikipedia.org/wiki/MasterCardhttp://en.wikipedia.org/wiki/Discoverhttp://en.wikipedia.org/wiki/Discoverhttp://en.wikipedia.org/wiki/American_Expresshttp://en.wikipedia.org/wiki/American_Expresshttp://en.wikipedia.org/wiki/Authorization_holdhttp://en.wikipedia.org/wiki/Authorization_holdhttp://en.wikipedia.org/wiki/Floor_limithttp://en.wikipedia.org/wiki/Visa_(company)http://en.wikipedia.org/wiki/MasterCardhttp://en.wikipedia.org/wiki/Discoverhttp://en.wikipedia.org/wiki/American_Expresshttp://en.wikipedia.org/wiki/Authorization_holdhttp://en.wikipedia.org/wiki/Authorization_holdhttp://en.wikipedia.org/wiki/Floor_limit


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CHAR"EBAC&:' chargeback is an event in which money in a merchant account is held due to a disputerelating to the transaction. harge backs are typically initiated by the cardholder. In the eventof a chargeback, the issuer returns the transaction to the ac9uirer for resolution. !he ac9uirerthen forwards the chargeback to the merchant, who must either accept the chargeback or

contest it.

TYES OF CRE#IT CAR#S:

#ecured credit cards

Prepaid ;credit; cards

SECURE# CRE#IT CAR#S:' secured credit card is a type of credit card secured by adeposit accountowned by the cardholder.!ypically, the cardholder must deposit between 100 and 00 of the total amount of creditdesired. !hus if the cardholder puts down ?1000, they will be given credit in the range of ?300H?1000. In some cases, credit card issuers will offer incentives even on their secured card portfolios.In these cases, the deposit re9uired may be significantly less than the re9uired credit limit, and canbe as low as 10 of the desired credit limit. !his deposit is held in a special savings account.redit card issuers offer this because they have noticed that delin9uencies were notably reducedwhen the customer perceives something to lose if the balance is not repaid.

!he cardholder of a secured credit card is still e"pected to make regular payments, as with aregular credit card, but should they default on a payment, the card issuer has the option ofrecovering the cost of the purchases paid to the merchants out of the deposit. !he advantage of thesecured card for an individual with negative or no credit history is that most companies reportregularly to the ma$or credit bureaus. !his allows for building of positive credit history.

REAI# )CRE#IT) CAR#S:' *re*ai% cre%it car%is not a credit card, since no credit is offered by the card issuerD the card/holder spends money which has been ;stored; via a prior deposit by the card/holder or someoneelse, such as a parent or employer. %owever, it carries a credit/card brand @Fisa, Masterard,'merican 4"press or :iscoverA and can be used in similar ways $ust as though it were a regular

credit card.'fter purchasing the card, the cardholder loads the account with any amount of money, up to thepredetermined card limit and then uses the card to make purchases the same way as a typical creditcard. Prepaid cards can be issued to minors @above 1=A since there is no credit line involved. !hemain advantage over secured credit cards @see above sectionA is that you are not re9uired to comeup with ?300 or more to open an account. 11J)ith prepaid credit cards you are not charged anyinterest but you are often charged a purchasing fee plus monthly fees after an arbitrary time period.Many other fees also usually apply to a prepaid card.
http://en.wikipedia.org/wiki/Chargebackhttp://en.wikipedia.org/wiki/Deposit_accounthttp://en.wikipedia.org/wiki/Deposit_accounthttp://en.wikipedia.org/wiki/Savings_deposithttp://en.wikipedia.org/wiki/Savings_deposithttp://en.wikipedia.org/wiki/Credit_cards#cite_note-10%23cite_note-10http://en.wikipedia.org/wiki/Chargebackhttp://en.wikipedia.org/wiki/Deposit_accounthttp://en.wikipedia.org/wiki/Savings_deposithttp://en.wikipedia.org/wiki/Credit_cards#cite_note-10%23cite_note-10


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Prepaid credit cards are sometimes marketed to teenagers for shopping online without having theirparents complete the transaction.(ecause of the many fees that apply to obtaining and using credit/card/branded prepaid cards, the-inancial onsumer 'gency of anadadescribes them as ;an e"pensive way to spend your ownmoney;. !he agency publishes a booklet, ;Pre/paid cards;, which e"plains the advantages and

disadvantages of this type of prepaid card.

"LOBAL LAYERS IN CRE#IT CAR#S

MASTER CAR#:Master card is the product of Master card International and along with visa is distributed byfinancial institutions around the world. ard %older borrow money against a line of credit and payit back with interest if balance is carried over for one month .!oday =000 financial institutions in0 countries issues its product. In 18there were almost 100 mill cards in circulation whoseusers spend ?30 billion in more than 1. mill localities.

AMERICAN E+RESS: !he world+s favourite card is 'merican e"press credit card. More than 7 million cards are incirculation and growing and it is growing further. 'round


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O( card has a merchant net work of 10.= m. in appro"imately 18 countries. It issupported by over =0 financial institutions worldwide. !he O( philosophy of identify thecustomer need and please the customer with service from the heart and paying rich dividend astheir customer spend ? = billion annual on O( cards.

SCENARIO OF LASTIC MONEY IN A&ISTAN

Plastic Money business is definitely going big time here in Pakistan. In a country where two yearsback people have hardly heard the word plastic money or credit card, more than 7000 merchantsare accepting above 10,000 cards.

It has been estimated that there are likely to be around half million potential card users in the nearfuture. !his forecasting derives credibility from the fact that more and more local and internationalfinancial institutions are e"hibiting enthusiasm in this direction. !his in turn reflects prospects inPakistan market in accommodating numerous credit card competitors operating on the circuit,ensuring healthy and competitive card business deals.

MAR&ET SCENARIO:

'lthough credit card was introduced in Pakistan decades ago when %abib (ank, the largest bank inPakistan, launched its gold card, but people had hardly know about this card because of its verylimited issuance. 'ppro"imately four years back, 'llied (ank of Pakistan had launched its Masterard. !wo years back itibank had launched its FI#' ard and that was the turning point in thehistory of Plastic Money in Pakistan.

itibank had done a tremendous $ob to educate people of Pakistan, as well as, financial industryabout credit cards and its significance in today+s world. (ecause of very aggressive marketing and

heavy investment in technology, itibank is well deserved to be called the industry leader ofPakistan+s credit card business.

'fter successful launch of itibank card, Muslim ommercial (ank, (ank of 'merica, and6ational (ank of Pakistan had launched their credit cards. Fery soon we are e"pecting more localand international banks on the horion of Pakistan+s credit card business.

In alphabetical order


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itibank is the industry leader in credit card business here. In short span of time, itibank

had issued over 13,000 FI#' cards and covers most of the potential market segment. Muslim ommercial (ank had launched its Master ard and it is e"pected that by the end

of 17, M( card users will be over 30,000 @that makes 3 of its total account holdersA. :iners lub and 'M4Q are very selective in credit cards business and so far entertains a

very limited market segment. (ank of 'merica is the transaction processing hub for most of the local banks, including

Muslim ommercial (ank, 'llied (ank and 6ational (ank of Pakistan.#ome departmental stores have also issued their own branded cardsE however, these stores areoperating in a very restrictive domain.

!4%6*2*&B '6: I6-5'#!5


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(anks C :-Is shall be liable for all transactions not authoried by the credit card holders after they have been properlyserved with a notice that the card has been lost C stolen. %owever, the bank>s C :-I>s liability shall be limited to thoseamounts wrongly charged to the credit card holder>s account. In order to mitigate the risks in this respect, the banks C:-Is are encouraged to take insurance cover against wrongly charged amounts, frauds, etc.!he bankC:-I shall, however, not charge the borrowers> account with any amount under the head of RinsurancepremiumS @by what so ever name calledA without obtaining consent of each e"isting T prospective customer inwriting. In addition to obtaining consent in writing, the banksC:-Is may also use the following modes for obtainingprior consent of their customers provided proper record is maintained by banksC:-IsD/iA ustomer>s consent on recorded lines via out boundCin bound call center @after due verificationAiiA '!M screens H screen pop up before conducting transaction and after inputting pin codeiiiA #igned consent ac9uired with credit card application or as separate formivA IF5 @Integrated Foice 5ecordingA

RE"ULATION O-1In case the cardholders make partial payment, the banks C :-Is should take into account the partial payment beforecharging service fee C mark/up amount on the outstanding C billed amount so that the possibility of charging e"cessamount of mark/up could be avoided.

RE"ULATION O-2:ue date for payment must be specifically mentioned on the accounts statement. If fine C penaltyis agreed to be charged in case the payment is not made by the due date, it should be clearly mentioned in theagreement.

RE"ULATION R-3

MA+IMUM CAR# LIMITMa"imum unsecured limit under credit card to a borrower @supplementary cards shall be considered part of theprincipal borrowerA shall generally not e"ceed 5s 300,000C.(anks C :-Is may, however, assign a clean limit beyond 5s 300,000 but not in e"cess of 5s million to their primecustomers who have e"traordinary strong repayment capacity, moderate debt burden and a clean track record. (ut theaggregate limits in this respect should not e"ceed 10 of the total credit card portfolio at any point in time. %owever,while availing benefit of this provision, banks C :-Is would place on record well defined criteria for terms ;Primeustomers; and ;Moderate :ebt (urden; approved by their (oard of :irectors C hief 4"ecutive.(anks C :-Is may also allow financing under the credit card scheme in e"cess of 5s 300,000C/@up to 5s millionA to other customers as well, provided the e"cess amount is appropriately secured according to thedefinition given in Part ' of these regulations.!he loan secured against li9uid securities shall, however, be e"empted from the above limit.!he loans against the securities issued by entral :irectorate of 6ational #avings @:6#A shall be sub$ect to suchlimits as are prescribed by :6# C -ederal &overnment C #tate (ank of Pakistan from time to time. -or harge ards,pre/set spending limits generated by the standardied systems, as is the global practice, shall be allowed.

RE"ULATION R-4

CLASSIFICATION AN# ROVISIONIN"

!he credit card advances shall be classified and provided for in the following manner

CLASSIFICATION #ETERMINANT TREATMENT OF

INCOME

ROVISION TO

BE MA#E

1A A =A A

2oss )here markupC interest orprincipal isoverdue by180 days or


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more from thedue date

Income 'ccounte"cept whenrealied in cash

amount of li9uidsecurities with thebank C :-I

It is clarified that the lenders are allowed to follow more conservative policies. -urther, provisioning may becreated and maintained by the bank C :-I on a portfolio basis provided that the provision maintained by the bank C :-I

shall not be less than the level re9uired under this5egulation

SB issues 5*erati56a7 8ui%e7i6es 95r cre%it car% usi6ess

!he #tate (ank of Pakistan today issued comprehensive operational guidelines for credit

card business of commercial banksC:-Is, outlining code of conduct for various aspects ofcredit card operations including their marketing, interest rate charges, recovery of dues,billing processes etc.

'ccording to the guidelines, banksC:-Is are advised to 9uote interest rate and service

charges on annual basis. 'lthough, they are free to set the aforesaid rates, banksC:-Is arere9uired to set well defined service level for each of the productCserviceE whether chargedor free. (anksC:-Is should also inform the credit card holder on the interest rate or servicescharges through advertisement andCor sending information to card holders on theiraddresses.

(anksC:-Is should not levy any charge that was not e"plicitly mentioned either in the s family members, referees and friends. !elephone callsand visits to credit card holders for recovery of unpaid dues should be restricted to aconvenient time and the same may be defined in the

(ankC:-Is public policy and should be properly communicated to customers at the time of

issuance of credit card. In addition, recovery should only be made from principal cardholder and in no case supplementary card holders shall be resorted to any sort of pressure

to pay the unpaid amount. %owever, supplementary card holders may be contacted only to en9uire about the

whereabouts of the principal card holder. Moreover, banksC:-Is should not start recoveryprocess for reported disputed transactions until the investigation carried out by cardissuing(ankC:-IC(anking *mbudsmanC#tate (ank of Pakistan is completed. In case of wrongCinappropriate basis of re$ection of customer claim, bankC:-I would be liable for penalty.

)ith regard to marketing of credit cards, banksC:-Is should discourage aggressive and

hard selling T marketing practices during workingCoffice hoursE e"cept with prior


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appointment of the prospective customer. In case a customer is called during office hoursfor seeking appointment, heCshe should be first asked for the option to continue with thecall or not.

(anksC:-Is should seek prior consent of their customersCaccount holders for informing

them on new products and services on telephone as and when introduced. In this regard,

banks should maintain a R:on>t call listS comprising the contact details of those customerswho do not want to be contacted. !he list should be accessible to all marketing staff andthey should be advised not to contact such customers Caccount holders for introducing oroffering new banking products. In this connection, banks should update the database ofe"isting customers within three months from the date of issue of these guidelines.(anksC:-Is should follow the ode of onduct for marketing of credit cards which will beissued by Pakistan (anks> 'ssociation @P('A in consultation with #(P.

&uidelines stipulate that credit card may only be issued by the banksC:-Is, pursuant to a

written application duly filled and signed by the prospective customer. %owever, in order toreward and retain highend e"isting customers, preembossed cards may be issued after aproper acceptance by the customer, which may be in the form of any verifiable mode such

as recorded phone call. 6evertheless, these preembossed redit ards should be activatedonly after receiving complete application form from highend customers and criteria forselecting high end customers must be defined in the bank policy.

Geeping in view the comple" nature of credit cards, the banksC:-I# are advised to simplify

the credit card terms and conditions, and keep them clear and understandable both in4nglish and


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BANK

ALFALAH

CREDIT CARD

VISA CARD

PLATINUM

GOLD&SILVER

SUPPLEMENT

ARY

MASTER

CARD

TITANIUM

DEBIT CARD

who had made the payment of disputed transaction and cancelled the card after lodgingcomplaint.

s 6ational Merchant 'lert #ervice and Cor Master ard>s Member 'lert to ontrol %igh 5isk Merchants etc. (anksC:-Is providingUac9uiring services> need to educate their merchants about the use of Point of #ale @P*#AMachine, genuineness of credit cards, signature verification, their rights and responsibilitiesunder the agreement.

'c9uirer banksC:-Is are re9uired to facilitate merchants by providing prompt payments

and timely maintenanceCservice of P*# machines. 'c9uirer (anksC:-Is should maintaintrack record of merchant>s performance and categorie them, based on risks, involvementin frauds T disputed transactions etc. and develop a data base or negative list of merchantsinvolved in fraudulent activities. !he merchants involved in credit card related frauds

should be delisted and their particulars should be shared with other banksC:-Is throughP('.

BAN& ALFALH

#EBIT CAR#

In our endeavor to provide you versatile banking options to fulfill your financial needs, (ank'lfalah 2imited presents the 'lfalah %ilalard, a :ebit ard which gives you unlimited access to


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your current C savingsaccount with a simpleswipe at millions of retailshops and '!Msworldwide. !he 'lfalah

%ilalard comes with ahost of conveniences and benefits combined with the wide reach of Fisa 6etwork, enabling it to beaccepted at more than 1. million '!Ms and million retail outlets around the world, making itthe most acceptable :ebit ard available in Pakistan.

)hat+s more, it is easy to operate and can be used on any electronic self/printing P*# machinewhere FI#' is accepted, locally and internationally. 6o more hassle of remembering your PI6 forretail transactions and no need to go to the '!M for cash withdrawalV one swipe and yourtransaction is complete.

CRE#IT CAR#

Bour (ank 'lfalah redit ards is your partner everywhere and is globally accepted andwelcomed at locations displaying the FI#' logo. It is accepted at nearly million locations inmore than 130 countries around the globe and over 7,000 (ank 'lfalah>s establishments inPakistan. !he credit cards offered by (ank 'lfalah are as followsD

VISA CAR#S

LATINUM CAR#

It is accepted at nearly million locations in more than 130 countries aroundthe globe and at over 7,000 establishments in Pakistan.

"OL# ; SILVER CAR#

' perfect card combination for all segments of salaried T professionalindividuals

SULEMENTARY CAR#


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6ow you can give #upplementary ards to anyone you care for. &ift your familymembers with e"clusive 'lfalah FI#' supplementary cards and let them also en$oy the privilegesof 'lfalah FI#'. *nly 'lfalah FI#' gives you the uni9ue feature of having up to si" freesupplementary cards for anyone you care for. 'll supplementary ard members share your creditlimit. 'll charges incurred on the supplementary cards will be reported on your monthly statement

FEATURES

!he features of all the FI#' credit cards are the same.

N5 ,5i6i68 Fee

Ooin 'lfalah FI#' without paying any $oining fee. #tart en$oying your free card from the momentyou get hold of it.

N5 A66ua7 < Re6e=a7 Fee

'lfalah FI#' is the only credit card in Pakistan with no annual or renewal fee, so benefit fromyour card without worrying about any renewal fee.

Ba7a6ce Tra6s9er Faci7ity

's an 'lfalah FI#' ard member you can avail balance transfer facility at a low rate of only @ 'P5A per month @for initial si" monthsA, which is the lowest in Pakistan. !he balance transferfacility can only be availed if the total outstanding balance does not e"ceed beyond the credit limitassigned by (ank 'lfalah for 'lfalah FI#' card.

"75a7 Acce*tai7ity

Bour (ank 'lfalah FI#' card is your partner everywhere and is globally accepted and welcomedat locations displaying the FI#' logo. It is accepted at nearly million locations in more than130 countries around the globe and at over 7,000 establishments in Pakistan.


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Rev57vi68 Cre%it

)ith 'lfalah FI#' you have the option of paying only 3 of your outstanding balance by the

payment due date. #ervice charges will be levied on the balance unpaid spending and carriedforward. !hese charges are calculated on a daily basis from the transaction date for all cash andretail transactions. !he following month you have the option of either the full amount payment orif you wish, pay only the minimum amount due and revolve again.

Car% Ex*iry eri5%

4ffective 7 Oune 003, all FI#' credit cards being issued by our ard :ivision will have an e"piryof = years on them.

(er5 L5ss Liai7ity

If you ever lose your card, (ank 'lfalah ensures that you never have to worry about it. Bou arecovered for all fraudulent charges made on your card as soon as it has been reported lost to us. Oustmake sure that you report the lost card immediately upon discovery. Bou are completely secure

against lossCtheft after the card loss has been reported to us.

A77 Bi77i68 i6 a> Ru*ees

)hether you make transactions in :ollars or any other currency, for your convenience, all yourbilling will be in P'G 5upees.

Stateme6t 59 Acc5u6t

-or your convenience we give you a single glance, easy to manage monthly statement whichcontains the followingD

1. Car% Acc5u6t Numer?. Stateme6t #ate?=. a8e C5u6t?


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. Tra6sacti56 #escri*ti56 I6%icati68:!he date of transactions made, !ransactionreference, 6ame of merchant establishment, 'mount charged and urrency type @If thetransaction is made in any currency other than Pak 5upeesA.

3. Cre%it Limit i6%icati68:!he total credit limit assigned to you for all your card accounts@principal and supplementaryA.

. ayme6t #ue #ate:Indicating the date by which your payment should reach (ank 'lfalahto avoid any late payment charges.7. Curre6t Ba7a6ce:Indicating the total outstanding amount on your card account on the

statement date.8. ayme6t c5u*56:!o be used for making payments.

Tra6sacti56s t@at ca6 e Tra6s9erre% t5 SBS

o 5etail !ransactions @:omestic T InternationalA

o ash !ransactions @:omestic T InternationalAo (alance !ransfer !ransactions

H5= Ca6 I A**7y$

It is a simple three/step processD

1. -ill in the #(# application form available at any of the 'lfalah (ranch or ards enter@re9uired only at the time of first transaction, when you apply for #(# plan.A

. all at ...-//2-34and book the transaction under #(#.

=. -or normal #(# choose from =, , , 1, 18, , =0, = months affordable payment plans.'nd for (!- to #(# choose from , , 1, 18, , =0, = months plans.

SECIAL FEATURES

Cas@ A%va6ce Faci7ity 2 59 Cre%it Limit

6ow you can avail ash 'dvance -acility up to 30 of your available credit limit. 4n$oy thebenefits of this e"clusive offer on your (ank 'lfalah redit ards. Bou can get cash from 'lfalah'!Ms or cash counters of (ank 'lfalah branches and other FI#' member banks in Pakistan.
http://www.bankalfalah.com/creditcards/%3C?=$strRootPath;?%3Eatm_network.asphttp://www.bankalfalah.com/creditcards/%3C?=$strRootPath;?%3Eatm_network.asphttp://www.bankalfalah.com/creditcards/%3C?=$strRootPath;?%3Eatm_network.asphttp://www.bankalfalah.com/creditcards/%3C?=$strRootPath;?%3Eatm_network.asp


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/1-H5urs @56e Ba6>i68 Service

*ur well/trained and 9ualified phone banking team Is available to help you hours a day. Oust

dial ...-//2-...forD

1. 'ctivating your card. 'nswering your 9ueries=. 5egistering and resolving your complaints. 5eporting a lostCstolen card

C5m*re@e6sive Trave7 r5tecti56

'lfalah FI#' offers a comprehensive cover up to 5s. =.3 Million on 'lfalah FI#' &old ard incase of an accident, while traveling on any common carrier. It is applicable only if the tickets arecharged through 'lfalah FI#' card. !he details are given as followsD

Limits 59 I6%em6ity: 5s. =.3 million W -or &old ard %olders5s. 1.73 W -or lassic, lassic (lue and )omen 4"clusive ards

C5vera8e:: Personal accidents travel insurance for card holders during travel

only, if ticket is bought using the card, as per benefits listedbelow.

#eat@: 100

S*ecia7 Exc7usi56: !his policy will not cover any claim due to death or permanentin$ury unless the same is caused due to any accident of thecarrying vesselCvehicle.

"e58ra*@ica7 Limit: )orld )ide

erma6e6t #isa7eme6t

Permanent total loss of both eyes or two limbsD 100


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Permanent total loss of one eye and one limbD 73Permanent total loss of one eye or one limbD 30Permanent total loss of one finger or thumb or toeD 10

F5rtu6es

-or every 5s. 30 you spend on your 'lfalah FI#' card, you will earn one fortune point. Bouraccumulated fortune points can be e"changed for a whole range of items displayed in our -ortunesatalogue.. It offers a wide range of lifestyle categories always catering to you and your family+staste. *nce you have accumulated enough points to redeem the gift of your choice, fill out a simpleform available at all (ank 'lfalah branches or call our hour phone banking service and orderthe item of your choice. !he fortune items will be delivered at your doorstep.

Acce*ta6ce at .LIN& ATMs

'vail ash 'dvance up to 30 of your credit limit at over 00 12ink '!Ms in Pakistan inaddition to over 1. million '!Ms worldwide.

I6sta6t SBS M56t@7y I6sta77me6t 7a6

(ank 'lfalah cardholders can convert any transaction of 5s. =,000 or above into easy installmentsof =,,1,18,,=0 and = months> tenures at the time of transaction.

Uti7ity i77 ayme6ts

6ow


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ardholders now have the convenience of using their cards to make payments even on locationswhere credit cards are not accepted by calling our hours all enter and getting pay ordersissued to any third party through debit to 'lfalah Fisa redit ard.

re*ai% M5i7es T5* u*s

'lfalah cardholders are also being provided the facility to get their prepaid mobile connections ofany company topped up by $ust one call to hours all enter. 'lfalah credit cardholders canalso use their reward points to get the prepaid mobile top ups.

A79a7a@ Cre%it 56 @56e

'lfalah cardholders can call the all enter and get credit up to 73 of their available credit limitassigned by (ank 'lfalah or available credit limit whichever is lower at $ust .0 per month @'P5A. Payment of credit amount can be made to them through a che9ue at the doorstep or directlyinto the account in (ank 'lfalah.

Cre%it Car% Bi77 ayme6t t@r5u8@ A79a7a@ Hi7a7 Car%

6ow (ank 'lfalah account holders can make their credit card bill payments through 'lfalah %ilalard by using it on '!Ms.

Ste* By Ste* DSBS 7a6

6ow you can convert any transaction amount of 5s. =,000C/ and above, to a #tep/(y/#tep paymentplan. It gives you the fle"ibility to convert your large payments into small e9ual monthlyinstallments.

MASTER CAR#S


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TITANIUM!itanium Masterard is your partner everywhere and is globally accepted and welcomed atlocations displaying the Masterard logo

YOUR ARTNER !HEREVER YOU "OBour (ank 'lfalah !itanium Masterard is your partner everywhere and is globally accepted andwelcomed at locations displaying the Masterard logo. It is accepted at nearly million locationsaround the globe and at over 7,000 (ank 'lfalah>s merchant establishments in Pakistan. Bou canwithdraw any amount upto 30 of your assigned credit limit.

FEATURES

MONTHLY CAR# STATEMENT!o keep a check on the transactions you have made on your 'lfalah !itanium Masterard, you willreceive a monthly statement indicating the followingD

iA PurchasesiiA ash withdrawalsiiiA #ervice hargesivA 'pplicable fee @if anyAvA -ortune 5eward Points

F5rei86 Tra6sacti56s!ransactions made outside Pakistan will be converted from the transaction currency to sProcedures applicable from time to time.

SECIAL OFFER FOR ALFALAH TITANIUM CAR#HOL#ERS5ela" and escape the stress of the airport

ri5rity ass T@e =5r7%Gs 7ar8est i6%e*e6%e6t air*5rt VI 75u68e *r58ram

Access t5 5ver 2 air*5rt VI 75u68es in 0 countries and over 73 cities so you can treatyourself like a FIP no matter where you travel, or which airline and class you fly.

CONVENIENCE AN# RELIABILITY


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Aut5 #eit!his facility is specially designed for our account holders. It gives you the option of making yourminimum or full payments due as specified in your 'lfalah FI#' monthly statement through your(ank 'lfalah 'ccount. If you are not a (ank 'lfalah 'ccount holder and wish to avail this facility,

kindly contact your nearest (ank 'lfalah branch.

BALANCE TRANSFER FACILITY*ffering an easy and convenient way to settle payments on all your e"isting credit cards inPakistan X per month @ 'P5A.!his rate can be reduced to an incomparable rate of 0.per month @upto 1. 'P5A if the (alance transfer transaction amount is converted to #tep/(y/#tep @#(#A Monthly Installment Plan within !46 days of the transaction.

ayme6ts

7a6 N5rma7 SBS BTF c56versi56 t5 SBS

-actor X1.73 p.m 'P5 [email protected]

-actor X0. p.m 'P5 [email protected]

0= months0.=308= =1.= ,10.8 6C' 17.7= 6C'

0 months0.1817 =3.13 1,103.0 0.17 0.0 1,03.0

0 months0.181 =.= 771. 0.11 0.0 7

1 months0.1008= =.7 0.8 0.0= 1.3 33.

18 months

0.07=0 =.8 =8.= 0.033 1. ==

months0.0317 =. =33.0 0.031 1.=7 =0.

=0 months0.0308= =3. =0.8 0.0= 1.1 3.

= months0.038 =3.07 71.8 0.0=77 1.01 .


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CRE#IT COVERY 2ow 5ates / %igh ProtectionY Protection against


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REVILE"ES IN A&ISTAN!he 'lfalah card holders have privileges in the following outlets.


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SERVICES

Cre%it C5ver -r5tecti56 =@e6 y5u 6ee% it

(ank 'lfalah offers card members a new and powerful protection against the uncertainties of life.In the unfortunate event of prolonged illness, disability or death, it>s reassuring to know that with'lfalah redit over you have no cause to worry about your monthly credit card repayments.

'lfalah redit over has a range of features designed to protect you from the setbacks of life, atrates that are affordable.

L5= Rates - Hi8@ r5tecti56

's an 'lfalah redit ard member @(asic card member up to the age of 3A, you can protectyourself with 'lfalah>s redit over that offers you an unbelievable low rate of 0.33 of youroutstanding amount in each monthly credit card statement as Rredit over PremiumS to insureyour credit balance.

r5tecti56 a8ai6st U6certai6ties

In the unfortunate event of terminal illness, permanent disability or death, your entire outstandingbalance amount on your 'lfalah redit ard account will be waived without causing anyinconvenience to your dear ones. 'dditionally, all supplementary credit card balances will also bewaived. 6o worry/$ust peace of mind.

!@i7e Y5u Rec5ver - !e =i77 C5ver

In the unfortunate event of temporary disablement due to an in$ury or illness for a periode"ceeding 3 days, we will pay the minimum outstanding payment on your 'lfalah redit ard.It>s $ust our way of ensuring that you en$oy complete peace of mind with fle"ibility.

C56ve6ie6t a6% Hass7e-9ree


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(eing automatically enrolled to the benefits of redit over, you do not need to complete anyforms or submit any applications for it. If you feel you do not need redit over then simply call

our /%our Phone (anking #ervice on 111/3/111 to cancel.

A77 56 t@e Stateme6t

'll transactions will appear under a separate heading stated as Rredit over PremiumS Bou willbe charged 33 paisas per 5s. 100 of your statement balance.

A7=ays T@ere 95r Y5u

all us on 111/3/111 and we will assist you through the procedure and help you with all the

necessary re9uirements. *ur /%our Phone (anking #ervice will make sure that you getcomplete peace of mind with the assurance of 'lfalah redit over?

(ank 'lfalah 2imited C FI#' T #%422 R-ree/ -uel Foucher #cheme;

#pecial introductory *ffer (y P Muaffarabad -or (ank 'lfalah ardholders

'rena -amily 5ecreational #ports omple"

4"clusive :ining Privileges

#pecial Membership *ffer for :ream world 5esort

'lfalah redit *n Phone

onvert Bour urrent Mobile *perator to )arid

Prepaid 'ir !ime

all T Pay onsumer :urables on 4asy Monthly Installments @#(#A

5egistration for utility bills

'lfalah ards #M# -acility

#pecial *ffer of )arid connections

Instant #(# on P*#

ash )ithdrawal at 1 2ink
http://www.bankalfalah.com/creditcards/shell.asphttp://www.bankalfalah.com/creditcards/pc.ASPhttp://www.bankalfalah.com/creditcards/arena.ASPhttp://www.bankalfalah.com/creditcards/dinning-privileges.ASPhttp://www.bankalfalah.com/creditcards/dreamworld.asphttp://www.bankalfalah.com/creditcards/loan.asphttp://www.bankalfalah.com/creditcards/mnp.asphttp://www.bankalfalah.com/creditcards/prepaid.asphttp://www.bankalfalah.com/creditcards/callpay.asphttp://www.bankalfalah.com/creditcards/sbs.asphttp://www.bankalfalah.com/creditcards/bills.asphttp://www.bankalfalah.com/creditcards/sms.asphttp://www.bankalfalah.com/creditcards/warid.asphttp://www.bankalfalah.com/creditcards/instantsbs.asphttp://www.bankalfalah.com/creditcards/1link.asphttp://www.bankalfalah.com/creditcards/shell.asphttp://www.bankalfalah.com/creditcards/pc.ASPhttp://www.bankalfalah.com/creditcards/arena.ASPhttp://www.bankalfalah.com/creditcards/dinning-privileges.ASPhttp://www.bankalfalah.com/creditcards/dreamworld.asphttp://www.bankalfalah.com/creditcards/loan.asphttp://www.bankalfalah.com/creditcards/mnp.asphttp://www.bankalfalah.com/creditcards/prepaid.asphttp://www.bankalfalah.com/creditcards/callpay.asphttp://www.bankalfalah.com/creditcards/sbs.asphttp://www.bankalfalah.com/creditcards/bills.asphttp://www.bankalfalah.com/creditcards/sms.asphttp://www.bankalfalah.com/creditcards/warid.asphttp://www.bankalfalah.com/creditcards/instantsbs.asphttp://www.bankalfalah.com/creditcards/1link.asp


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Sta6%ar% C@artere%

!he :ebit and redit cards of standards hartered can be shown in a simple hierarchy given below

Sta6%ar% C@artere% #eitet Cr Car% America6 Ex*ress C@ar8e Car%

Saa%i Visa Car%

Easy Cr Car%


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Visa Debit CardConvenience of Visa Debit, using your own moneyWith the Stana! Cha!te!e "Vi#a e$it Ca!%'( )et the *'n+enien*e ', -a.in) /(!*ha#e#

'! 0ith!a0in) *a#h 0he!e+e! Vi#a i#a**e/te1Vi#a De$it Ca! i# an ATM2De$it *a! that 3et#'( #h'/ 0'!!4,!ee an *a#h4,!ee1 N' $i33/a-ent# at the en ', the -'nth a# '(-a.e /(!*ha#e# (#in) '(! '0n -'ne1 Y'(*an (#e '(! Vi#a De$it Ca! a3-'#t an0he!e in the 0'!3 0he!e+e! '( #eethe Vi#a #-$'31 It%# 5(i*. an #e*(!e an '( *an (#e it ,'! /(!*ha#e# $i) '!#-a331

Features at Glance

U#e '(! '0n -'ne at 67 -i33i'n '(t3et# an 89: *'(nt!ie# 0'!30ie

0he!e+e! Vi#a i# a**e/te

Ea*h 0ith!a0a3 ta.en i!e*t3 ,!'- '(! Stana! Cha!te!e Ban.

A**'(nt

En;' /ea*e ', -in $ n't ha+in) t' *a!! *a#h

Y'( *an *a33 #(//'!t 6< h'(!# a a= 7 a# a 0ee. 0ith an 5(e!ie#

A33 POS t!an#a*ti'n# 'n '(! *a! a!e #i)nat(!e $a#e1 Si-/3 #0i/e an#i)n>

The +a3iit /e!i' ', the *a! i# ? ea!# ,!'- the ate ', i##(e1

Maximum amount that can be withdraw using Visa DebitCardClassic cardholders@ATM 0ith!a0a3 ', (/ t' R#1:= :::POS #/enin) ', (/ t' R#1 8::=::: '! e5(i+a3ent t' an 'the! *(!!en*

Platinum cardholders:ATM With!a0a3@ U/ t' R#1 9:=:::POS S/enin)@ U/ t' R#1 ::=::: '! e5(i+a3ent in 'the! *(!!en*

!ecial FeaturesE*3(#i+e $enet# a+ai3a$3e 'n Vi#a De$it Ca!@


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ho!!ing:U#e '(! e$it *a! ,'! a33 '(! #h'//in)= at h'-e an a$!'a

Petrol:U#e '(! e$it *a! t' /a ,'! /et!'3 at an 33in) #tati'n#

"estaurant:U#e '(! e$it *a! t' /a ,'! inne! at '(! ,a+'!ite !e#ta(!ant#

Cash:U#e '(! e$it *a! t' 0ith!a0 *a#h at an Stana! Cha!te!e Ban.ATM '! an ATM 0'!30ie that i#/3a# the Vi#a #-$'3

#$tatement ervice:With '(! E4State-ent #e!+i*e= '( *an !e3a an en;' the *'n+enien*e', !e*ei+in) the #(--a! ', '(! e$it *a! t!an#a*ti'n# 'n a -'nth3

$a#i# in '(! e-ai3 in$'1 S($#*!i$e ,'! thi# #e!+i*e= ,!ee ', *ha!)e $33in) '(t a ,'!- at '(! /a!ent $!an*h

Choose your own P%&:Y'( *an )ene!ate '(! ATM PIN $ *a33in) (/ '(! 6


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Ca#h0ith!a0a3 2Ba3an*eEn5(i! at SCBATM#

N' *ha!)e# a//3

Ca#h0ith!a0a3 2Ba3an*eEn5(i! atn'n4SCB ATM#

R#1 8? ,'! *a#h 0ith!a0a3R#1 ? ,'! $a3an*e en5(i!

C(!!en**'n+e!#i'n,ee 'n ,'!ei)nt!an#a*ti'n#ATM2POS

61? '! R#1:: 0hi*he+e! i# hi)he!',the t!an#a*ti'n a-'(nt ', an ,'!ei)n*(!!en* t!an#a*ti'n -ae '! *ha!)e t''(! a**'(nt1The e*han)e !ate $et0een thet!an#a*ti'n *(!!en* an the $i33in)*(!!en* (#e ,'! /!'*e##in) ,'!ei)n*(!!en* t!an#a*ti'n# i# a 0h'3e#a3e-a!.et !ate #e3e*te $ Vi#a ,!'- 0ithina !an)e ', 0h'3e#a3e !ate# in eJe*t /3(#the /e!*enta)e that Stana! Cha!te!eBan. *ha!)e# ,'! the F'!ei)n C(!!en*C'n+e!#i'n Fee a$'+e1

Credit Card

Stana! Cha!te!e C!eit Ca! *an $e (#e in Pa.i#tan an a# 0e33 a#)3'$a33 ,'! an t!an#a*ti'n at an -e!*hant '(t3et a**e/tin) Ma#te!Ca!an2'! VISA C!eit1 It /!'+ie# '( ,'33'0in) ,a*i3itie#

() 1 Card Cash withdrawal

H'0e+e! Ca! Ca#h 0ith!a0a3 i# 3i-ite t' : ', '(!a+ai3a$3e *!eit 3i-it1

*) +ithdrawals through -M.s


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F'! *a#h 0ith!a0a3# th!'()h ATM# '! '+e! the *'(nte! t!an#a*ti'n#= an'-ina3 ,ee 0i33 $e *ha!)e a# /e! the S*he(3e ', Cha!)e#1

/) -ransfer your other Credit Card.s outstanding balance

Y'( a3#' *an t!an#,e! '(! 'the! C!eit Ca!# '(t#tanin)$a3an*e t' '(! Stana! Cha!te!e C!eit Ca! at a n'-ina3 nan*ia3*ha!)e ', 16? /e! -'nth Ma#te!Ca! an 16? /e! -'nth VISA1When '( t!an#,e! $a3an*e# 'n t' '(! Stana! Cha!te!e C!eit Ca!= '(0i33 a3#' ea!n T!ea#(!e /'int#= 0hi*h '( *an !eee- ,'! e*itin) )i,t# ,!'-'(! T!ea#(!e# Cata3')(e1

0) Clearance of outstanding balance

Y'( ha+e the '/ti'n ', /ain) $a*. the enti!e a+ai3e a-'(nt '!/ain) a# 3itt3e a# ? ', '(! '(t#tanin) $a3an*e at *'-/etiti+e nan*ia3

*ha!)e#1 Y'(! !e-ainin) '(t#tanin) a-'(nt 0i33 $e *a!!ie ,'!0a! t' '(!net -'nth3 #tate-ent= 0he!e '( 0i33 a)ain ha+e the *h'i*e ', /ain) a#3itt3e a# ? ', the '(t#tanin) a-'(nt '! the enti!e a-'(nt1

1) ervice fee be charged

With Stana! Cha!te!e# VISA an Ma#te!Ca!= '( ha+e the'//'!t(nit t' a+ai3 ?8 an


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Cha!te!e $!an*he#1 P3ea#e ini*ate '(! na-e an *a! n(-$e! 'n the!e+e!#e ', the *he5(e1

Th!'()h A(t' De$it ,'! Stana! Cha!te!e *(#t'-e!# ? ', the

'(t#tanin) $a3an*e '! the t'ta3 a-'(nt

B Te3e)!a/hi* T!an#,e!1 Y'(! /a-ent 0i33 $e *!eite t' '(! Ca!

a**'(nt a,te! ,(n# a!e !e*ei+e $ Stana! Cha!te!e= C'n#(-e!Ban.in)= an Ca!# Pa.i#tan1

4) tolen and 'ost Cards

In the e+ent that '(! *a! i# 3'#t '! #t'3en= /3ea#e !e/'!t it t' a-e-$e! ', '(! C(#t'-e! Se!+i*e# Tea- i--eiate3 'n 8884::64::6

5) Problem "egarding tandard Chartered Credit Cards

I, at an ti-e '( ,a*e an /!'$3e- !e)a!in) '(! C!eit Ca! '! C!eitCa! a**'(nt= *a33 '(! 6


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*) Ea# C!eit Ca!

/) Stana! Cha!te!e PIA C' B!an C!eit Ca!

aadi7 V% Credit Cards

At Stana! Cha!te!e= 0e $e3ie+e in !e#/e*tin) '(! +a3(e#1 We a!e/3ea#e t' int!'(*e Stana! Cha!te!e Saai5 VISA C!eit Ca!# Pa.i#tan%# !#t Sha!iah4*'-/3iant Ri$a F!ee C!eit Ca!#= 0hi*h *'-$inethe inte!nati'na3 a**e/ta$i3it ', VISA 0ith 0'!30ie !e3ia$i3it ane*e33ent #e!+i*e1

The Saai5 VISA C!eit Ca!# ha+e $een*a!e,(33 e+e3'/e $ an inte!nati'na3

tea- ', /!',e##i'na3# 0ith I#3a-i* nan*ia3e/e!ti#e= 0h' en#(!e that '(! /!'(*t# a!e0ithin the )(ie3ine# ', I#3a-i* nan*e1Saai5 C!eit Ca!# '/e!ate 'n the "U;!ah%*'n*e/t 0hi*h i# $a#e 'n a e ,ee#t!(*t(!e= -eanin) that 'n3 e ,ee 0i33$e *ha!)e t' the *(#t'-e!1 The Ca! 0'(3n't $e 3e+ie 0ith an 'atin) /e!*enta)e ,ee e/enent (/'n the'(t#tanin) $a3an*e1 The enti!e ,ee #t!(*t(!e i# $a#e 'n e ,ee (n3i.e*'n+enti'na3 *!eit *a!# 0he!e ,ee i# a /e!*enta)e ', the '(t#tanin)a-'(nt '! t!an#a*ti'n a-'(nt1

8ow it +or9s

Saai5 VISA C!eit Ca!# )i+e '( the '/ti'n ', eithe! /ain) the

enti!e '(t#tanin) a-'(nt '! /a 'n3 a -ini-(- a-'(nt ', the'(t#tanin) $a3an*e $ the /a-ent (e ate1

In*a#e= '( '/t t' /a an a-'(nt 3e## than the t'ta3 '(t#tanin)

$a3an*e= the !e-ainin) $a3an*e )et# t!an#,e!!e t' the Se!+i*e A**'(nt0hi*h i# a n'n4inte!e#t an n'n4/!'t $ea!in) a**'(nt= 3in.e t' '(!

Saai5 C!eit Ca!1

A e -'nth3 -aintenan*e ,ee 0i33 $e 3e+ie 'n3 ,'! the -'nth the

Se!+i*e A**'(nt i# (#e an !ee*t# an '(t#tanin) $a3an*e1

ervice ccount


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Se!+i*e A**'(nt i# a n'n4inte!e#t an n'n4/!'t $ea!in) a**'(nt 0hi*h i#-aintaine $ the Ban. ,'! the Saai5 VISA C!eit Ca! -e-$e!#1 An a-'(nt ', the *(!!ent $a3an*e 0hi*h i# (e an (n/ai a,te! the!e3e+ant /a-ent (e ate= i# t!an#,e!!e ,!'- the Ca! A**'(nt int' Se!+i*eA**'(nt1

A e -'nth3 -aintenan*e ,ee 0i33 $e 3e+ie 0hen the *(#t'-e! ha#$a3an*e 'n hi# Se!+i*e A**'(nt i!!e#/e*ti+e ', the '(t#tanin) $a3an*e

Charges

A e ,ee i# *ha!)e ,'! -aintenan*e ', the Se!+i*e A**'(nt an*'ntin(e (#a)e ', the Ca!1 The ,ee 0'(3 +a! ,'! iJe!ent *a! t/e#C3a##i*= C3a##i* B3(e= G'3 an G'3 P3(#= h'0e+e!= 0'(3 !e-ain the #a-e,'! a /a!ti*(3a! *a! t/e1 Maintenan*e ,ee 0i33 $e *ha!)e 'n3 i, the Se!+i*eA**'(nt i# (ti3ie an2'! !ee*t# a $a3an*e ,'! that #/e*i* -'nth1 The ,ee i#

n't e/enent 'n (!ati'n ', the Se!+i*e A**'(nt -aintaine an2'! thea-'(nt ', the '(t#tanin) $a3an*e1 N' ,ee 0i33 $e *ha!)e ,'! the -'nth#0hen the Se!+i*e A**'(nt i# n't (ti3ie

#asy Credit Card

6ne of the most uni7ue !roducts, the Pa9istan


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Stana! Cha!te!e Ea# C!eit EC *'-$ine# the/'0e! ', a C!eit Ca! 0ith the *'n+enien*e ', aChe5(e $''.1 A# an EC *a! -e-$e! '( 0i33 $eentit3e t' a h'#t ', $enet# that n' 'the! ,a*i3it 'Je!#1 EC /!'+ie# '( 0iththe 3'0e#t nan*ia3 *ha!)e an a**e## t' Stana! Cha!te!e #e!+i*e# a!'(n

the )3'$e1 Thi# -ean# that Ea# C!eit i# the $e#t ,a*i3it 'Je!in) -'!e an-'!e a*!'## the *'(nt!1

Cash +ithdrawal 'imit

Y'( *an 0ith!a0 *a#h (/ t' : ', '(! *!eit 3i-it1 F'! ea-/3e= i, '(!*!eit 3i-it i# R#1 8::=::: an '(! 0ith!a0a3 3i-it i# : = then '(! *a#h0ith!a0a3 3i-it 0i33 $e R#1 :=:::

#ligibility Criteria

F'! $ein) e3i)i$3e ,'! ea# *a! '( ;(#t nee t' -eet the Ea# C!eit *!ite!ia1Y'( ha+e t' a//3 ,'! the *he5(e $''.= th!'()h the !e5(e#t ,'!-= 0hi*h i# /a!t', the Ea# C!eit A//3i*ati'n F'!-1 Y'( 0i33 $e !e5(i!e t' /a a ,ee t' ha+ean Ea# C!eit *he5(e $''. i##(e1 Thi# #e!+i*e i# +a3i ,'! $'th Ba#i* anS(//3e-enta! Ca! -e-$e!

sage of easy Credit Card

Y'( *an (#e the Ea# C!eit *he5(e $''. an0he!e '( 3i.e1 F'! ea-/3e=Ea# C!eit *he5(e# *an $e (#e ,'! /a-ent# 0he!e the -e!*hant 'e# n'tha+e a C!eit Ca! /!'*e##in) -a*hine '! 'e# n't a**e/t C!eit Ca!#1 It *an

a3#' $e (#e t' /a an'ne 0ith a $an. a**'(nt1 H'0e+e! Ea# C!eit*he5(e# a!e A**'(nt Paee *he5(e# an *an 'n3 $e (#e 0ithin Pa.i#tan)

Di;erence between an ordinary account che7ue and an#asy Credit che7ue

The a-'(nt i# e$ite ,!'- the *(#t'-e!# $an. a**'(nt 0hen (#in) an'!ina! a**'(nt *he5(e= 0he!ea# 0ith an Ea# C!eit *he5(e= the a-'(nt-enti'ne 'n the *he5(e i# e(*te ,!'- '(! Ea# C!eit Ca! A**'(nt1Thi# -ean# '( 'nt ha+e t' /a the 0h'3e a-'(nt at the #a-e ti-e1 A3#'Ea# C!eit Che5(e# a!e A**'(nt Paee *he5(e# 'n3= i1e1 the a-'(nt

-enti'ne 'n the *he5(e# *an 'n3 $e *!eite t' the /aee# a**'(nt1

Fee for cash withdrawal

N' ,ee i# *ha!)e ,'! *he5(e# (#e t' /a thi! /a!tie#1 H'0e+e!= a ,ee 0i33 $e*ha!)e a# /e! the S*he(3e ', Cha!)e#= ,'! *a#h 0ith!a0a3# th!'()h an ATM'! '+e!4the4*'(nte!


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Charges for the services of #asy card

A hi)h3 *'-/etiti+e nan*ia3 *ha!)e ', 61: /e! -'nth 0i33 $e 3e+ie ,!'-the t!an#a*ti'n ate ti33 the *'-/3ete '(t#tanin) $a3an*e 'n '(! Ea# C!eiti# /ai in ,(331

ome !ecial


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-ravel ccident Cover:A# an inte!nati'na3 t!a+e3e!= '( a!e a(t'-ati*a33 *'+e!e ,'! t!a+e3a**ient# (/ t' 8 -i33i'n R(/ee#= i, '( /(!*ha#e '(! ti*.et th!'()h EC1

Credit Cover:

Ea# C!eit /!'te*t# '( ,!'- 3i,e# (n*e!taintie# 0ith C!eit C'+e!= $e it/!'3'n)e i33ne## '! i#a$i3it1 I, (e t' (n,'!e#een *i!*(-#tan*e#= '(a!e (na$3e t' /a '(! $i33= '( *an ;(#t ta.e a+anta)e ', the EC C!eitC'+e! an ha+e a33 '(t#tanin) /a-ent# *'+e!e1

>ero 'oss 'iability:It i# ,'! '(! *'-,'!t an #e*(!it= that 0ith e!' L'## Lia$i3it= Ea#C!eit *'+e!# '( ,'! a33 ,!a((3ent *ha!)e# -ae 'n '(! EC A**'(nt1A33 '( ha+e t' ' i# !e/'!t the -atte! t' (# i--eiate3 an#($#e5(ent3 '( a!e #e*(!e a)ain#t 3'##= the,t an e+en $a 3(*.1

Foreign -ransactions:When '( (#e '(! EC Ca! '(t#ie Pa.i#tan= the t!an#a*ti'n a-'(nt0i33 $e *'n+e!te ,!'- the t!an#a*ti'n *(!!en* t' US D'33a!#= $a#e 'nthe inte!nati'na3 e*han)e !ate /!e+ai3in) 'n that ate1 In '!e! t' a##i#t*a! -e-$e!#= a33 t!an#a*ti'n# 0i33 $e *'n+e!te int' Pa. R(/ee# ,'!/a-ent1

tandard Chartered P% Co


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PIA C'B!an Ca! -e-$e!# $'th /!i-a! an #(//3e-enta! *an a+ai3

i#*'(nt# 'n thei! /e!#'na3 ti*.et# n't in the na-e ', an 'the! /e!#'n'! ,a-i3 -e-$e!#

Di#*'(nt 0i33 $e )i+en 'n a33 '-e#ti* an inte!nati'na3 ti*.et# i##(e

,!'- Pa.i#tan

N' i#*'(nt 0i33 $e a//3i*a$3e 'n tae#1

N' i#*'(nt 0i33 $e a//3i*a$3e 'n a3!ea i#*'(nte *3a##e#

Com!limentary P% wards @Plus Membershi!:

P% wards @Plus:A i#tin*ti+e ,!e5(ent e! /!')!a- )!eet# ai! t!a+e3e!# t' a 0'!3 ',e*e/ti'na3 t!a+e3 /!i+i3e)e# an !e0a!#1 Whethe! '( a!e 3''.in) ,'! ,!ee

ti*.et#= *3a## (/)!ae#= e*e## $a))a)e '/ti'n#= $(#ine## 3'(n)e a**e##= '!/!i+i3e)e *he*.4in *'(nte!#= PIA A0a!# P3(# i# the !i)ht t!a+e3*'-/ani'n ,'! '(1

An '( ea!n thi# /!i+i3e)e $ in) 'n PIA%# net0'!. ', ?6 e#tinati'n#a!'(n the )3'$e1 The PIA A0a!# P3(# P!')!a- 'Je!# '( an E-e!a3Me-$e!#hi/= a Sa//hi!e Me-$e!#hi/= '! a Dia-'n Me-$e!#hi/1 The -'!e'( t!a+e3= the -'!e '( )et t' en;' the $enet# ', PIA A0a!# P3(#P!')!a-1

wards @Plus Cards:

PIA C'B!an C!eit Ca! -e-$e!# 0i33 )et an A0a!# P3(# *a! 0ithin

It *r5vi%e 855% *ac>a8es

c It *r5vi%es 855% services

a; 24%

b; 38%

c ; 38%

a b c

C5mme6ts:ma$or reasons for preferring credit cards are its 9uality services and good packages.

'1: =@y y5u *urc@ase% t@e cre%it car%$a It is c56ve6ie6t D=?r?t cas@ a6% sa9ety

Status sym57

c It @as eauti9u7 a**eara6ce

% It 8ives s*ecia7 %isc5u6t 56 s@5**i68

e It is y5ur 6ee%

9 A6y 5t@er s*eci9y-------------------


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a; 59%

b; 8%e; 33%a b c d e f

C5mme6ts:3 purchase credit cards because it is convenient with respect to cash and safety.

'nd =0 people said that it is their need.

'2: @5= muc@ tra6sacti56s y5u %5 *er m56t@$a Rs?

2 . Rs?

c . .2 Rs?

% .2 s5 56

a b c d

C5mme6ts:normally people transact from credit card within the range of 300 to 10000.

': 9r5m =@ic@ c@a66e7 y5u @ear% a5ut it t@at i6%uce% y5u t5 *urc@ase it$


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friends college; 5%

sale re!res"a"i#e; 33%

"#$ edia; 1&%

friends college sale re!res"a"i#e "# $ edia

C5mme6tsD 30 people rely on their internal resources before purchasing decision.

'3: Are y5u satis9ie% =it@ its services$

a Yes

N5

cA Neit@er satis9ie% 65r %issatis9ie%

'es; &5%

no; 1&%

ne"hier sa"isfied ni dissa"isfied; 8%

'es no ne"hier sa"isfied ni dissa"isfied

C5mme6tsD 73 people are satisfied with the services of credit cards and its fulfill their need.'4: %5 y5u =a6t s5me extra 9eatures t5 e a%%e% i6 y5ur car%$ I9 yes t@e6

s*eci9y?


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no; 92%

o"her ; 8%

no o"her

C5mme6tsD people don>t want any feature to be added in their credit card but they wantannual charges should be eliminated and interest rate should be decreased.

': %5 y5u @ave a6y c5m*7ai6ts a8ai6st itGs$a Fi6e structure

Limit 59 cre%it car%

c Se77er %5es6Gt ex*7icit7y rie9 terms a6% c56%iti56s

a; 15%

b; 2%c; (5%a b c

C5mme6tsD 3 people want their credit card limit should be e"tended and rest of the peoplehave complaint against fine structure and terms and conditions.


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'es; 5%no; 5%'es no

'.: =5u7% y5u a%vise 5t@er *e5*7e t5

uy cre%it car%$

a Yes

65

C5mme6tsD the ratio of advising and not advising others is fifty fifty.

'..: %5 y5u t@i6> cre%it car% @as create% a @ait 59 5ver s*e6%i68$

a A8ree% #isa8ree%

agree; ((%

disagree; 34%

agree disagree

C5mme6ts: people consider credit card create a habit of over spending.


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Stre68t@s1. !he most important strength of Plastic cards is that they are convenient with respect to

safety and there is no need to carry cash.. !he greatest strength of the banks is their sales force. !he more the 9ualified the sales force

more that bank will have competitive edge over other.=. *ur survey has told that the customer prefer those banks which provide 9uality services so

the 9uality services are the basic strength for bank.. !he easy procedure for obtaining a debit or credit card is also strength of plastic card.3. Inflation is a positive point for banks as due to increased inflation is purchasing power is

decreasing and people are more inclined towards use of credit card.

!ea>6esses1. !he greatest weakness is that people have a very bad perception and they think that it is a

very bad product and once a person used it and he will be a prey to the veracious ofinterest.

. !he banks don>t provide complete information about terms and conditions that give rise to

much confusion in the mind of people.=. %igh service charges and annual fee charged by banks are that are a point of worry for

consumers.. People have severs complaints against fine structure.


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O**5rtu6ities

1. !here is a large room for banks in the fields and they can capture the market by providing

new features like standard chartered bank..

33443896 Plastic Money Data

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