THE COMMONWEALTH BANK OF AUSTRALIA ISSUES AMERICAN EXPRESS-BRANDED CARDS IN AUSTRALIA
SYDNEY, October 23, 2009 -- American Express today announced that the Commonwealth Bank of Australia would issue American Express-branded credit cards in Australia. The Commonwealth Bank American Express® Card will carry the American Express logo and will be accepted on American Express' global merchant network. Commonwealth Bank will own the receivables and service customers' accounts on its own systems.
Three different American Express-branded cards will be issued by Commonwealth Bank, including the Commonwealth Bank Awards American Express® Card, the Commonwealth Bank Gold Awards American Express® Card, and the Commonwealth Bank Platinum Awards American Express® Card.
American Express Executive Vice President, and Head of Global Network Services, Japan, Asia Pacific & Australia, Kula Kulendran said that the launch of the Commonwealth Bank American Express Cards is part of a long-term strategy to expand demand for American Express-branded cards in the market.
“The new American Express-branded cards issued by Commonwealth Bank offer more choice to its customers and will be attractive to those who value awards, as well as the prestige and core values of American Express,” added Kulendran.
About American Express
American Express Company is a leading global payments, network and travel company founded in 1850. Since 1996, American Express has been pursuing a strategy of opening its merchant network and card product portfolio to third party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the brand, American Express has gained even broader reach for its network worldwide. American Express has now established 131 partnerships in 130 markets across the world.
