The Visa network credit card deals with significant data security issues, necessitating utmost diligence. There are numerous rigorous supervisory mechanisms in place, ensuring that the cooperation between Nicholas Shopping Network and major banks remains transparent and clear to prevent various issues, such as theft and fraud.
To facilitate this cooperation, the Nicholas Shopping Network undertook extensive efforts, though the process proved challenging and complex.
Initially, clerks approached other banks seeking assistance in issuing online credit cards. However, their inquiries were met with skepticism as many bank representatives questioned the very existence of an online credit card. "What on earth is an online credit card?" they asked, bewildered. Banks, unlike traditional entities one might expect, acted more like gatekeepers than collaborators.
After facing numerous rejections and cold stares, the clerks persevered, realizing they had to continue persuading. After more than two months of relentless effort, they finally made headway. Major partners such as Citibank, Morgan Bank, and Visa agreed to collaborate with the Nicholas Shopping Network to jointly develop and issue the Visa online credit card.
With the Visa network credit card, users could not only swipe their cards at POS machines but also make payments for online shopping by entering their account number and password!
Following months of development and six rounds of testing, the Visa network credit card was finally set to launch in early May.
Representatives from over a dozen banks—including Citibank, Morgan Bank, and Visa—gathered at the Nicholas Group to jointly announce the upcoming launch of the Visa online credit card. This innovation would not only apply to physical shopping but also enable users to shop online with ease!
During the press conference, Geely Hutt, the CEO of Nicholas Group, delivered a key statement: "The launch of the Visa online credit card marks a milestone in the evolution of online shopping. No longer will users have to rely on the cumbersome cash-on-delivery method; transactions can be completed simply by entering their credit card details, allowing them to look forward to receiving their purchases without worry! Furthermore, our Nicholas shopping network solemnly guarantees that we will never disclose any user's credit card information. With comprehensive oversight from financial giants like Citigroup and Morgan, along with additional banks, you can shop with complete confidence! If a user's account is compromised due to any negligence on Nicholas's part, we will provide full compensation!!!"
In the aftermath of the press conference, news outlets quickly picked up on this announcement.
The promise of compensation in case of account theft would significantly enhance the public's trust in the Visa online credit card, making them more eager to use it.
To promote the new Visa online credit cards, banks introduced various incentive measures, such as higher interest rates and overdraft limits compared to standard cards. However, the most astounding offer was that anyone applying for a Visa online credit card would receive a $50 Nicholas shopping voucher. This kind of promotion was rarely seen!
Banks typically shied away from giving away such substantial amounts. A $50 shopping voucher was no trivial matter. If there were tens of millions of users, this would amount to $500 million—an unimaginable cost for banks!
Ultimately, Nicholas Group spearheaded the initiative, agreeing to cover $30 of the expense while banks contributed the remaining $20. The banks were eager to collaborate, as their focus remained on attracting new users. Thus, teaming up with Nicholas Group and enhancing the voucher offer to $50 made business sense for both.
Henry calculated that through this initiative, Nicholas Shopping Network's transaction volume would undoubtedly skyrocket, potentially setting off a sensation across the United States and beyond! With such impressive sales figures, Nicholas Shopping Network's reputation would soar, placing it on the map as a global player. Once that happened, an IPO would be on the horizon, and the stock price could skyrocket overnight!
This strategy would establish Nicholas Shopping Network as a leader in e-commerce, placing others in the position of merely following in its footsteps.
At the same time, the campaign would introduce more netizens to the concept of online shopping, converting them into loyal users of Nicholas Shopping Network.
"Shopping? Go to Nicholas!" became the motto of the moment.
To ensure the card issuing event was successful, the Nicholas Group executed a massive advertising blitz across television and newspapers. This campaign was enthusiastically supported by the participating banks, particularly Citibank and Morgan Bank. However, they had a vital task at hand: since the Visa online credit card was new, it was crucial to explain the concept of online shopping to the public; otherwise, why would anyone need an online credit card?
Shortly after the Visa online credit card was launched, lines began to form outside banks across America. People queued 20 to 30 meters long, resembling a dragon weaving through the streets! Amongst the crowd were individuals who were already familiar with online shopping, as well as many others who were curious and eager to explore this new avenue.
For those versed in online shopping, the Visa online credit card was a welcome advancement—offering convenience and enticing shopping vouchers.
For those unacquainted with online shopping, many found the application process inexpensive and painless; after all, who wouldn't want an extra card that came with a $50 shopping voucher?
Although the application process included queries from bank staff about transferring funds from other banks, many applicants experienced a seamless experience, substantially boosting the bank's deposits!
This joint initiative had created quite a stir across the nation.
Many banks with dwindling user bases watched their customers flock to apply for the Visa online credit card.
"What's the hottest credit card on the market now?" one individual asked.
"You can shop in person and online—choose the Visa network credit card! Truly deserving of the title!"
Everywhere, the Nicholas Group was championing online shopping, while banks pushed the Visa credit cards. The synergy between the two resulted in tremendous power! The count of Visa network credit card users continued to surge, and after one week, the number exceeded 100,000. Nicholas Shopping Network's sales amassed an impressive $8.65 million!
Although the 100,000 Visa online credit cards had only distributed $5 million in vouchers, the influence on consumer behavior was compelling. Once users began shopping and discovered attractive deals, they quickly surpassed the initial $50 in spending...
This was just the beginning. Some individuals would indulge in the joys of online shopping, then excitedly share their experiences with friends. The second wave of Visa online credit card applicants was growing more ferocious than the first!
Across numerous application locations, crowds formed—queueing day and night. Reporters swarmed the area, microphones in hand, ready to capture the excitement!
"Hello! I'm a reporter from The New York Times—how long have you been queuing?"
"I've only been in line for over an hour. My girlfriend, though, arrived much earlier. She's been queueing for three hours! In fact, she just processed her Visa network credit card and came out of the bank!"
Quickly, the reporter approached a young woman for her take: "Hello! I just spoke with your boyfriend. I heard he mentioned you've waited three hours for what is essentially a credit card. Doesn't that seem excessive?"
"Excuse me! It's not just a credit card; it's a Visa online credit card! Do you understand the Internet? Have you heard of online shopping? Clearly, you don't! There are advertisements running, promoting, 'Shopping? Go to Nicholas!' Many students in our university have bought items from Nicholas Shopping Network; everything is so cheap and a fantastic deal!" The young woman's eyes sparkled with excitement as she spoke.
Meanwhile, competing banks that had initially opted out of the Nicholas Group's collaboration regretted their choices and quickly extended apologies, hoping to jump on board to offer the Visa online credit card. Henry was naturally inclined to cooperate—more partner banks meant an exponential increase in promotion.
However, latecomers would bear a greater cost: the $50 Nicholas shopping voucher would see the banks contribute $30 while Nicholas covered the remaining $20. This arrangement wasn't overly strenuous, and many banks eagerly agreed. As online shopping clearly emerged as the next big trend, the demand for Visa online credit cards began to surge! In the following week, another 290,000 Visa online credit card users emerged, bringing Nicholas Shopping Network's sales to a remarkable $21 million. For the first time, they surpassed the $10 million mark within just one week!
This unprecedented success sent shockwaves throughout the United States and garnered attention worldwide!