Russia’s largest lender by assets, Sberbank, has launched Visa Infinite Exclusive – a card made of pure gold, with pearl embossing and 26 diamonds – aimed for the bank’s top 100 customers in Kazakhstan.
The bejewelled card does not have a magnetic strip but can be used for chip and PIN transactions. The card owners will need to carry a regular plastic card to withdraw money from an ATM.
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The Visa Infinite Exclusive card will, reportedly, weigh between 40g and 50g each. The card approximately valued at $100,000, of which $65,000 is needed to for the bank and the rest will be added to its balance.
The price includes health insurance worth KZT40m ($268,681), a free iPhone 5, entry to business class lounges at airports and a 24-hour phone concierge service.
There will be no fees to pay during the first year, but post the initial time period, the card and its accompanying services will approximately have an annual charge of $2,000.
MasterCard and Kazkommertsbank introduced their own diamond-encrusted card in Kazakhstan in 2008.
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By GlobalData
