SOFIA (Bulgaria), February 7 (SeeNews) – Bulgarian non-banking financial institution Access Finance said on Wednesday it is entering the Romanian market under the AXI brand with the launch of its White Card - a VISA Classic international revolving credit card.
“Romania's credit card market is developing steadily, as it reached 2.65 million credit cards at the end of the third quarter of 2016,” Laur Emilian, manager of Access Finance’s Romanian subsidiary AXI Finance, said as quoted in the press release. "However, the average per capita coverage of 0.14 is far below the level in the developed countries in Europe where, on the average, one person uses a credit card. This creates good prerequisites to successfully establish and develop the AXI brand in the country."
The White Card is designed for people who for various reasons do not have access to traditional payment instruments, allowing them to use financial products, make payments by credit card, online payments and others, Tsvetan Krastev, manager of Access Finance said.
In 2016, Access Finance announced plans to expand to foreign markets through its international brand AXI.
Sofia-based Access Finance, established in 2013, employs 100 people and has a client base of 65,000 active white card holders. The first White Card was issued in Bulgaria in 2013.