American Express in
card issuing alliance with Citibank
(15 December 2004 4:30
MUMBAI: American Express and Citibank have reached an agreement
for 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.
"As one of the world's most prestigious financial institutions,
Citibank is a tremendous addition to the American Express network,"
said American Express chairman and CEO Kenneth I. Chenault. "We
are committed to working with outstanding partners like Citibank
and the premiere customer experience they provide."