Friday, November 19 2010 18:32

ACBA-Credit Agricole Bank starts issuing American Express Gold cards


ArmInfo. As exclusive agent of American Express, ACBA-Credit Agricole Bank has started issuing American Express Gold cards.

The press service of ACBA-Credit Agricole Bank reports that the cooperation agreement with American Express was signed Aug 27 2009. In late Mar 2010 ACBA-Credit Agricole Bank started serving the cards.

American Express Gold is accepted by most of shops as well as in restaurants and hotels.

The card offers a package of services: Membership Rewards, purchase insurance, travel services, American Express Selects, financial flexibility, services of international quality.

"We are proud of our cooperation with such a well-known brand, whose experience and quality will benefit our customers," says Director General of ACBA-Credit Agricole Bank Stepan Gishyan.

Vice President of American Express Alex Furber is proud that American Express Gold will be issued in Armenia. He says that along with this product they will offer a new quality of financial services and privileges.

American Express enjoys flexible positions on the world credit card market. Surveys have shown 70% of AmEX holders prefer using this product because it offers additional services. In Armenia American Express cards have not been widespread. Until recently they have been accepted only by hotels and some shops. The ACBA-Credit Agricole-AmEx partnership is aimed at changing this situation.

According to ACBA-Credit Agricole Bank, in June 2010 payments had a lion's share in the total amount of AmEx transactions - 112mln AMD (505 transactions) against 81mln AMD (464 transactions) in May and 58.2bln AMD (291 transactions) in Apr. AmEx cashing in transactions in the ACBA-Credit Agricole Bank network grew by 5 times to 1.5mln AMD (27 transactions) in June 2010 against 310,000 AMD (4 transactions) in Apr. In Apr-June 2010 the bank increased the number of outlets accepting AmEx cards from 260 to 586. As of July 1 the bank had 110 bancomats and 963 POS-terminals.

American Express is a multi-functional company headquartered in New York and providing travel, financial and network services. It is a leader on the traveller cheque and cash card markets as well as in the fields of tourism, financial planning, business, investment, insurance and banking services. In Q2 2010 the net profit of American Express totalled $1.017bln.
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