PAREX BANKA AND AMERICAN EXPRESS LAUNCH THE FIRST AMERICAN EXPRESS CARDS IN LATVIA
The American Express Credit Cards offer premium benefits and services of the American Express global brand
RIGA, April 20, 2005 -- Parex Banka and American Express today announced the launch of the first American Express Cards in Latvia. The American Express Platinum Credit Card and American Express Gold Credit Card are designed to meet the needs of Latvian consumers who aspire for success and expect a higher level of service and benefits from their financial products.
For more information about Parex Banka American Express Cards, please visit www.parex.lv.
The new American Express Cards offer 24x7 customer service in Latvia and around the world, benefits unique to the Latvian marketplace, including purchase protection, protection against fraud and access to specially negotiated savings and offers in Latvia and abroad. The cards will be available at the beginning of May.
The partnership with American Express results in Parex Banka becoming the exclusive issuer of American Express Credit Cards in Latvia. Parex Banka will also be the only bank that will acquire merchants in Latvia to accept the American Express Card at their establishments.
“Undoubtedly, American Express is the world's most premium brand in the sphere of financial services with more than 150 years experience of offering premium products and best in class service,” said Mr. Valerie Kargins, President of Parex Banka. “Now is the right moment for a high quality product such as American Express credit cards to be available on Latvian market. Besides an acknowledgement of our present achievements, our cooperation with American Express is another way of meeting our customers' growing needs.”
“American Express only partners with banks that share our commitment to superior customer service and providing quality products to customers,” commented Mr. Peter Wright, Senior Vice President, American Express. “Parex Banka is a dynamic institution, and they are the right partner to launch the most premium cards in Latvia that have been uniquely designed for Latvian consumers.”
American Express Credit Cards Offer Unique Benefits and Services
Both the American Express Platinum Credit Card and the American Express Gold Credit Card have been designed to meet the needs of Latvian consumers who aspire to succeed and who expect a higher level of benefits and services their financial services providers. The cards provide access to revolving credit and are the ultimate travel companion, offering offer security at home and abroad and access to premium experiences.
Both products offer Cardmembers a rich package of benefits and services, including 24x7 customer service both in Latvia and around the world, access to the worldwide network of 1,700 American Express Travel Service Offices where Cardmembers can seek assistance. In addition, they provide access to promotions and discounts specially negotiated in Latvia and all over the world.
American Express Gold Credit Card
The American Express Gold Credit Card gives its members financial freedom, feeling of security and excellent service, and provides special privileges when traveling around the world. Additional benefits and services include:
- Payment Flexibility – Provides a high credit line and offers up to 45 days interest free credit. The customer can choose whether to pay the whole amount in full or pay a minimum of at least 5% of the sum of the credit spent every month.
- Fee Free for the first year. For subsequent years, the annual service fee is 45 Lats. Purchases in Latvia and abroad are free of charge.
- Purchase Protection - cover for damaged or stolen goods over 30 EUR in value with a maximum 1000 Euro per item and 20, 000 Euro per year.
- Fraud Protection - limited customer liability if card used for fraudulent purposes.
- Travel Accident Insurance – coverage for serious injury or death while traveling up 200 000 Euro.
- Travel Inconvenience – cover for flight delay/missed connections and delayed baggage up to 250 EUR and lost baggage up to 1000 EUR
- Global Assistance – pre-trip advice available and emergency legal and medical help if required while travelling abroad from the 1,700 American Express travel offices located world wide
American Express Platinum Credit Card
The American Express Platinum Credit Card is the most exclusive credit card in Latvia offering the richest package of services and benefits to an elite group of customers. It will be available only on invitation from Parex Bank to select customers.
This exclusive product provides Cardmembers with exclusive access to dedicated travel representatives who can make travel arrangements and provide access to specially negotiated offers on travel and holiday promotions. In addition, the Platinum Credit Card also offers access to airport VIP lounges worldwide. Other benefits include:
- Payment Flexibility -- Provides a minimum credit line of 10, 000 Lats and offers up to 45 days interest free credit.
- The annual service fee is 250 Lats, but purchases in Latvia and abroad are free of charge
- Purchase Protection - cover for damaged or stolen goods over 30 Euro in value with a maximum of 1500 Eruo per item and 40 000 Euro per year
- Fraud Protection - limited liability if card used for fraudulent purposes
- Travel Accident Insurance - coverage for serious injury or death while traveling up 250 000 Euro
- Travel Inconvenience - cover for flight delay/missed connections and delayed baggage up to 500 EUR and lost baggage up to 1500 EUR
- Global Assistance – pre-trip advice available and emergency legal and medical help if required while travelling abroad from the 1700 American Express travel offices located world wide
- Platinum Travel Service – dedicated travel agents who have access to globally negotiated hotel and holiday promotions and programmes.
Both the American Express Platinum Credit Card and American Express Gold Credit Card can be used to make purchases at the wide variety of Latvian merchants that accept the card, including retailers, gas and petrol stations, hotels and restaurants, and the millions of establishments that accept the American Express Card for payment globally. They can also be used with all the ATMs in Latvia that bear the American Express logo.
About American Express Global Network Services
American Express Company is a diversified worldwide travel, financial and network services company, founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, business services, insurance and international banking.
Since 1996, American Express has been aggressively 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 American Express brand, the Company aims to gain even broader reach for its network worldwide. American Express has established partnerships in more than 100 countries.
