Westpac's Ross Jackson with the new Titanium card and its compact companion. Picture / Greg Bowker
Westpac's Ross Jackson with the new Titanium card and its compact companion. Picture / Greg Bowker
How do you stand out in a crowd? You shrink.
With its new Titanium MasterCard and its companion SideCard, Westpac is offering its premium customers the first mini credit card in the country.
The tiny cards that swing off a keyring have proven popular in Asia, where brightly coloured andglow-in-the dark versions have become a fashion accessory.
Although New Zealanders were less likely to want a "look at me" card, or to see the Titanium card as an expression of wealth, Westpac's head of cards Ross Jackson said customers were demanding more flexibility from their credit cards and it was the added features that would appeal to high-income customers.
The regular-sized Titanium MasterCard is available to customers who qualify for a credit limit of at least $15,000.
Benefits include 24-hour concierge and home assistance services which will help with anything from ordering a bunch or flowers to getting someone to fix a leaking tap.
SideCard had all the the benefits of the main card but - at two-thirds its size - was more useful for everyday purchases such as petrol, and was easier to take out during recreation activities, said Cunningham.
Although it could not be used at ATMs, it offered more security because it could be set to a small daily purchasing limit, which made it ideal for online buying.
Parents could use it as a supplementary card to give to their children for emergencies, or for travelling, he said.
Titanium MasterCard had a potential market of more than 10,000, the company said.
To reach these customers Westpac is focusing most of its marketing online through www.westpactitanium.co.nz, which goes live tomorrow.
