Woolworths is set to boost its financial services division, partnering with Visa for its Woolworths Money business, which recently signed up Macquarie Bank.

Woolworths will work with Visa and Macquarie Bank to deliver consumer credit products to its retail group which includes Woolworths, BIG W, BWS, Dan Murphy’s, Thomas Dux, Woolworths Petrol, and Masters stores.

Woolworths Money GM, Dhun Karai, said Visa will work closely with Woolworths Money to migrate the existing credit card portfolio from MasterCard and HSBC later this year.

“In the first half of 2015 Woolworths Money will deliver exciting product enhancements to the existing benefits and popular rewards offered to Woolworths Money credit card holders,” Karai said.

“Our exciting new partnerships with Visa and Macquarie Bank will set a new benchmark for retailer branded chip enabled credit cards, just as it did when the credit card program launched in 2008. Cardholders will continue to enjoy world class payments security and service innovations.”