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Executive Summary A credit card acts as a purchasing tool that enables consumers to make purchases without having to pay the full amount in cash upfront at the time of purchase Credit cards also offer consumers with cash in advance service when they withdraw money from the ATM machine However the level of interest rate applied to all purchases will depend on each consumers bank or financial institution and type of account In market for credit cards there is a limited amount of brands that consumers can choose from These brand names range from Eurocard-Mastercard Visa American Express JCD Dinners Club All of these credit cards have different features and benefits that attract different types of consumers Most of them use one single authorization system which acts like a security and authentication system that involves mainly the seller and buyer to transmit the purchased data to the main processing system Please refer to A1 in the appendix for the diagram of this authorisation process VISA Corporation is comprised of 21000 banks and other financial institutions around the world who issues the credit cards to its customers VISAs long-term objective is to continue to envision universal commerce U commerce where buyers and sellers can conduct commerce securely and conveniently anywhere anytime any way they like VISA website VISAs Consumer credit cards range from VISA Classic VISA Gold and VISA Platinum VISAs strong brand image is composed of delivering to consumers all transaction purchases with acceptance convenience flexibility and security However in order to continue to promote its brand image which relies heavily on the notion of VISA credit cards as a safer payment method VISA needs to increase its investment into Research Development Being the global market leading product service provider VISA need not lay back and relax while overlooking and enjoying all its past achievements VISA still needs to differentiate itself from other credit card companies by providing the most high-tech
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