The payment cards business has grown enormously in the last two decades, and today must represent one of the largest and most profitable verticals in the global financial services industry. And the growth potential has not likely been exhausted, because consumers continue to opt for cards, instead of cash and check, in virtually every part of the world, both emerging markets and developed economies alike. At the same time, however, the cards business has found itself increasingly wrapped in controversy, especially as merchants have taken issue with rising cost. For a large, growing, and controversial industry, Slawsky and Zafar's new book provides a blueprint that explains how the business actually works and as such should interest a wide range of readers, including financial services executives and managers, as well as investors, regulators, and policy-makers.' Kenneth Posner, Morgan Stanley, NY, U.S.A
'Delivers an excellent topology of the business of payments. The authors provide a comprehensive review of the history and the future of payments. Its practical approach to cards makes it a valuable resource for people in the cards business and for those beginning their careers in cards. The authors' insight on what constitutes an effective marketing strategy provides an excellent framework for card issuers to develop and execute strategies that will deliver results. A must-read'. Joe DiVanna, Director, Maris Strategies Limited
'This book offers an excellent overview of the cards industry. It describes with clarity industry best practices in all key areas.
' Michael Lafferty, Chairman, Lafferty Group
'If you want to understand the credit card business, read this book. If you are in the credit card business and want to improve your market share, sales and profitability and only have time to read one book, read this one. It is like a mini MBA in credit card management and covers all aspects of the card business - from marketing and customer management, operations management, profitability analysis, to future developments in the payments industry. The authors have wide and varied experience working and consulting for the card industry. They not only describe best practices but also provide opinions, observations, and recommendations. The chapters on marketing take the reader through the sometimes complex techniques that card issuers use to develop and market their cards. All this is described in a simple and easy to follow manner. Instead of devising theoretical segmentation techniques, the book describes the actual segmentation practices followed by successful card issuers, their related distribution channel strategies, and tracking techniques for monitoring performance. There are separate chapters on new account and existing account marketing.' Jay Norman, DiamondCluster International
'Slawsky and Zafar balance the whys and wherefores of the credit card business along with the practical aspects of how to build a successful card franchise. It should be read by those looking to get a deeper understanding of the industry overall, or looking to build or expand a card operation.' Moshe Orenbuch, Specialty Finance Research, Credit Suisse First Boston
