Savour Card
This week Restaurant & Catering Australia pitched the Savour Australia Card proposal to Visa (as discussed at the recent R&CA Board Meeting). The pitch follows some of the concerns around long (7year) waiting periods for revenues etc having been clarified.
The partner for the distribution of the card has been slightly changed to another division of the company originally chosen (212F). The new partner is Secure Cash Express. They are very positive about the launch of the card and are now anticipating 50,000 cards being produced in the first year.
As previously detailed the card volumes in the US are around $17 Billion. Converted to the Australian market this would translate to a figure of around $650 Million.
Visa listened carefully to the proposal and will respond in the coming month as to whether they will support the launch. The support would include a sponsorship arrangement of the R&CA if forthcoming.
