VILNIUS - Hansabankas, Lithuania's second-largest commercial bank by assets, and VP Market, the largest retailer in the Baltics, announced that they would launch a set of cobranded payment cards this week.
Hansabankas is issuing three new smart cards - a debit card, credit card and youth card - under the agreement with VP Market signed in September. The two held talks on issuing a co-branded card several years ago, but they failed to reach a deal then.
Vilniaus Bankas launched a co-branded card with VP Market and Senukai, the retailer of building materials and household goods that is owned by Finland's Kesko, in November 2003.
The new cobranded cards will give Hansabankas' customers access to VP Market's discount program, Maximum, which is now only available to Vilniaus Bankas' customers.