| Payment Exchange is pleased to announce the closing of a deal with Bank One: both parties have |
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jointly signed an Agreement which officially designates Payment Exchange as the bank's Processor. |
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| Bank One is slowly but surely marking the banking space in Mauritius. Acknowledging that today |
| banks have to provide significant value add in order to maintain a competitive edge, the bank |
| plans to issue credit cards to its customers in the third quarter of 2009. To achieve this,Ba |
| nk One has made the smart move of outsourcing its card operations to Payment Exchan |
| ge. Bank One was represented by Raj Dussoye,Chief Executive Officer and Dhinoo Vee |
| rasawmy, Chief Operating Officer, whereas on PEX side ,Dhaneshwar Damry,Chair |
| man, and Sailesh Sewpaul, Chief Executive, signed the contract. |
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| Formerly known as First City Bank Ltd, the bank changed hands on the 22nd |
| February 2008,when CIEL Investments Limited(one of the leading financial |
| groups in Mauritius) and I&M Bank Limited (one of the leading banking |
| institutions from Kenya) jointly acquired the First City Bank Ltd on a 50 |
| - 50 shareholding basis. Bank One has a clientele base of over 370 |
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00 The bank presently offers International Cirrus/Maestro Debit ca |
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rds and has a local network of 14 ATMs, which it plans to incre. |
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PEX rolls out issuance of Planter's Card by Bank One
Payment Exchange Group (PEX) announced its association with Bank One for the rolling out of a new flavor of Credit Card known as the
"Planter's Card".
Planter's card is a credit card aimed at resolving the cash flow issues that small planters normally face in Mauritius. This 
new card has got all the advantages of a VISA card in terms of convenience and use. In addition to this, there are 
other specific plus points that add-on to the financial flexibility of small planters e.g. a preferential rate of interest
and an attractive repayment mode.
