Despite the increasing popularity of Visa Cash in Hong Kong, Visa International does not see the new product eating into the market share of Visa's traditional credit card product. The company said the two served different purposes, with different clientele bases. The executive vice-president and general manager for North Asia-Pacific at Visa International, Raymond Chan, said Visa Cash, a chip-based, stored-value debit card, was designed to allow users to settle small transactions without the need to go through the complicated application and approval procedures required for credit cards. Statistics from the Visa Cash pilot scheme, launched in Hong Kong in August, showed there had been about 3,000 transactions per day, averaging $35 each. 'Transactions involving such a small value are not usually readily handled by credit cards,' Mr Chan said. He said this showed that Visa Cash had created a new platform for retailers such as convenience stores or fast-food shops which did not usually accept credit cards. This had opened a new area for Visa's member banks to expand their client bases by extending the card processing facilities to these merchants. Mr Chan said the disposable Visa Cash card would continue to exist after the introduction of a reloadable version early next year. The reloadable card will enable users to replenish the card's value through automatic teller machines. 'There still exists a segment of the market where customers do not want those features like cardholders' identities or personal identification numbers,' he said. 'Disposable Visa Cash serves this purpose.' Mr Chan said Visa had started talks major public transport service venders on the possibility of using Visa Cash.