ManU has signed a four-year sponsorship with Mexican banking group INVEX, the club's first financial services partner in North America. The agreement will give INVEX the exclusive rights to produce and market ManU-branded credit cards to the club’s 24 million Mexican followers. INVEX has an annual turnover of $252M and a database of more than 100,000 credit card customers. The INVEX Manchester United Credit Card will offer Mexican fans discounts at the club’s online store and the ManU membership program. Cardholders will also be offered prizes such as signed shirts and match tickets. ManU Commercial Dir Richard Arnold: "Mexico is well known for its love of football and Manchester United is lucky enough to have some 24 million loyal and passionate followers in the country. Our partnership with INVEX shows our commitment to these fans and we are delighted to be partnering with such an innovative organization" (ManU). LA AFICION reported "with the intention of taking advantage of more than 20 million ManU fans in Mexico, the football club, INVEX and Visa launched a credit card that will give cardholders discounts on ManU merchandise." Visa Dir General Eduardo Coello said that "the card will be directed at people aged 20-30, and it will look to become another tool to collaborate with banking in the country." Coello said, "The way to bring more people closer to banking is to offer services that grab the population's attention." Annuities will be exempt for customers' first year, but will be set at 595 pesos ($46) starting in the second year. Depending on the level of use, interest rates will range from 18-40% (LA AFICION, 6/10).
