Shell to issue credit cards

Shell has confirmed that it is looking to issue credit cards under the new standards to be created by the Reserve Bank's reforms to the bank-dominated Visa and Mastercard credit card associations. Shell already distributes a branded credit card but most of the profits generated go to Shell's partner and the actual issuer of the card, GE Capital. A spokesman for the company said that it supports the RBA document and is looking for future commercial opportunities.

Shell also indicated that it would have no intention of charging customers an explicit fee for processing card transactions (surcharging) but it couldn't guarantee that this would be the case for its franchisees.

Advertisement