American Express Announces Card Issuing Alliance with Citibank | AccountingWEB

American Express Announces Card Issuing Alliance with Citibank

American Express announced late last week that it has reached an agreement for Citibank to issue credit cards in the United States that will be accepted on the American Express global merchant network.

American Express anticipates that the new credit card products developed by Citibank will be available in late 2005.

Citibank will be responsible for issuing the cards, managing the customer relationships, providing service, billing and credit management and designing the card product features. American Express will process transactions on its global merchant network.

Financial terms of the agreement were not disclosed. "As one of the world's most prestigious financial institutions, Citibank is a tremendous addition to the American Express network," said Kenneth I. Chenault, Chairman and CEO of American Express. "We are committed to working with outstanding partners like Citibank and the premiere customer experience they provide."

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.