Paris, Tuesday 4 November 2008

Finaref is launching Visa Tactik, a fresh concept in consumer payment cards. Unique in France, the new card is a payment instrument designed especially for shoppers who want to indulge themselves while spreading their repayments over five, ten or twenty instalments.

Visa Tactik: an international bankcard
The first advantage of the new card is that it is backed by the Carte Bleue Visa network. It can thus be used not only to pay for goods and services in France and abroad, like any universal payment card, but also to withdraw cash from all Visa ATMs. With an annual fee of 29 euros, which is waived in the first year, the card is coupled with the Compte Mistral, a Finaref revolving credit account with an initial limit of 4,000 euros.

Purchases with payment facilities
The unique feature of Visa Tactik is that the cardholder can pay in five, ten or twenty instalments, depending on the purchase amount, from 151 euros upwards. The card is therefore aimed at a wealthy clientele who shop opportunistically and are always on the lookout for high added-value services and payment facilities.

The repayment schedule is:

• up to 150 euros : small monthly instalments, under Compte Mistral terms and conditions (15 euros or more per month)
• 151 to 300 euros : 5 instalments with a 12.90 per cent APR
• 301 to 600 euros : 10 instalments with a 10.90 per cent APR
• more than 600 euros : 20 instalments with an 8.90 per cent APR
  
  Guarantees and services
  As a fully fledged consumer payment card, Visa Tactik comes with a range of services applicable to all purchases made with it. These include a 12-month extension of the manufacturer's warranty and a best-price guarantee valid for 60 days from the date of purchase (except for prices found on the web or in a mail order catalogue). Customers who opt for Compte Mistral creditor insurance are protected against defective goods as well theft, breakage and fraudulent use.
  
  Targeted advertising
  Designed primarily for customers who shun conventional revolving credit, Visa Tactik is being marketed through an off-beat advertising campaign on the theme of “making a smart buy”. The baseline plays on the notions of carefully thought-out payments and guaranteed purchases.
  
  The campaign kicked off on 20 October with a direct marketing drive aimed at customers carefully selected from Finaref's database.