SOUTH African retailer Woolworths’s Financial Services unit and Mercantile Bank have formed a joint venture to launch a VISA branded credit card for the retailer’s customers. They said in a statement the move was in line with global trends by retailers to offer their customers financial products. ”Mercantile Bank have assisted other non-traditional players by providing the infrastructure and transaction processing capability to launch credit cards in the South African market,” Woolworths Financial Services director Deon de Kock said. ”Woolworths brings to the table an excellent retail presence, backed by a customer service culture and trusted brand,” he said. Mercantile said it had recently invested in an enhanced credit card system which had sufficient capacity for growth over a number of years. – Reuters