Wednesday, October 13 2010 10:12

Central Bank of Armenia authorizes ACBA-Credit Agricole Bank to participate in American Express payment system


ArmInfo. The Central Bank Council of Armenia authorized ACBA-Credit Agricole Bank to join American Express system (AmEx) on Tuesday, the CB press-service reported.

Bank ACBA-Credit Agricole and American Express have signed a cooperation agreement on August 27 2009. The bank became the first and exclusive representative of American Express in Armenia. ACBA-Credit Agricole Bank is among top banks in terms of the number of issued plastic cards in Armenia as of April 1 2010: nearly 84000 cards of ArCa, Visa and MasterCard systems.

American Express has flexible positions in the global credit card market. It is ranked the first in the international brand ratings in the financial sector. Global polls testify that 70% of AmEx cardholders prefer just AmEx cash cards because of additional services and accumulative projects. However, AmEx has not been so widely known in Armenia by present. Only hotels and few trade points served AmEx cards. The cooperation of ACBA Credit Agricole and AmEx aims to change the situation in the Armenian market.
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