Monday, October 6 2014 18:29
The contract between ACBA-CREDIT AGRICOLE BANK and American ExpressR was resigned
ArmInfo. ACBA-CREDIT AGRICOLE BANK and American Express have resigned the contract, which allows the Bank to continue exclusive issuance of American Express Gold, Blue and Cashback cards, as well as acquiring merchants onto American Express network in Armenia.
The press service of ACBA-CREDIT AGRICOLE BANK has told ArmInfo that the new contract was signed in New York by General Executive Manager of ACBA-CREDIT AGRICOLE Bank, Mr. Hakob Andreasyan and Mr. Colin O'Flaherty, Vice President and General Manager, Partner Card Services, Russia, CIS and Central Eastern Europe at American Express.
By extending the exclusive contract, American Express has once again expressed confidence in ACBA- CREDIT AGRICOLE and willingness to continue partnership with the Bank for the benefit of customers in Armenia.
The first contract was signed in August 2009, leading to expansion of card acceptance network in Armenia. In 2010 the first American Express Gold Card was issued, offering a wide package of benefits never seen before in Armenia. In 2011 the Bank issued American Express Blue Card, an innovative and trendy Card that rewards everyday spending and has benefits that complement their dynamic lifestyles. In July, 2014 American Express Cashback Card, a product designed for everyday use, which is the first card in Armenia to provide 2% CASHBACK for all transactions in many supermarkets.
ACBA-CREDIT AGRICOLE BANK and American Express will continue offering new and innovative products in Armenia, aiming at offering a suitable American Express Card to customers with various demands and preferences.
According to the Analytical Review "Armenian Banks in Card Business" prepared by the Agency of Rating Marketing Information (ArmInfo), ACBA-CREDIT AGRICOLE BANK is among the TOP 3 by the number of active ArCa cards, and among the TOP 5 by the number of Visa and MasterCards. The Bank is ranked 2nd in terms of plastic transactions. The Bank is in the lead by the number of its own ATMs and POS terminals (187 and 1210, respectively).
To recall, ACBA-CREDIT AGRICOLE BANK has been operating in Armenia since 1995. Credit Agricole S.A. has been the majority shareholder of the Bank since September 2006 (a 15.56% stake). Another major shareholder is SJSC "Sacam International" (member of Credit Agricole S.A.) with a 12.44% stake.
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