Sony to release own credit card

TOKYO, Japan (CNN) -- Japanese consumer electronics company Sony said Wednesday its finance subsidiary Sony Finance International will introduce its own credit card next April.

The card, to be known as the "eLIO", will be targeted at customers for e-commerce transactions.

Sony expects the card will be able to be used at 20,000 outlets within the next three years. By that time Sony Finance International aims to release 2 million cards.

Sony already issues credit cards in conjunction with major credit card companies. It will team up with Visa to issue the eLio for use overseas.

By issuing its own card Sony hopes to build up its customer data base, and tailor services to their specific needs.

Secure and simple service

In an announcement Wednesday, Sony said the eLio card would offer a secure and simple Internet-based credit service.

According to the Nihon Keizai Shinbun business daily, the card will be suitable for account settlement, which Sony believes will increase customer convenience.

In issuing the cards, Sony will be subject to greater credit extension and debt recovery risks. But access to customer data will enable increased effectiveness with marketing techniques.