SOFIA (Bulgaria), March 15 (SeeNews) – Romanian non-banking financial institution AXI Finance, a wholly owned subsidiary of Sofia-based Access Finance, said on Wednesday its AXI Card – an international revolving credit card MasterCard - has attracted 7,000 customer applications since its launch in January.
A total of 1,500 of the applications have been approved, with 1,100 AXI Cards already activated, Laur Emilian, CEO of AXI Finance, said in a press release.
The high interest in the product can be explained by the lack of transaction fees when using the card either to pay at a store or to withdraw money from an ATM, Emilian added.
Romania is the first foreign market, which Access Finance has entered since the company said last year it plans to expand outside Bulgaria through its international brand AXI.
The AXI Card provides access to finance irrespective of the social and financial status of the customer, according to the press release.
The Bulgarian equivalent of the AXI Card - the White Card, has more than 60,000 active users.
Access Finance, established in 2013, employs 100 people and has a registered capital of 1.25 million levs ($680,000/640,000 euro), according to the Bulgarian commercial registry.
(1 euro = 1.95583 levs)