AMERICAN EXPRESS LICENSES VERSATILE CARD TECHNOLOGY TO MANUFACTURE CLEAR CARDS
New York, August 29, 2006 -- American Express today announced that it has reached a licensing arrangement with Versatile Card Technology, Inc. (VCT) for production of clear payment cards. American Express is the owner of numerous patents covering such cards and the processes and components necessary for producing them. VCT is licensed under the American Express patents to produce cards for other card issuers that are truly clear and transparent, using the same patented technology incorporated in American Express's own card products.
“This licensing agreement expands VCT's product offerings around the world,” said Merrill Martin, executive vice president and chief operating officer for VCT. “Combined with our renowned quality and manufacturing capacity capabilities, we already are seeing great interest in the use of this transparent card technology among our customers.”
American Express issued the world's first truly clear, transparent card, Blue from American Express®, in Australia in July of 2001 and then introduced the first truly clear, transparent card product in the U.S. in 2002 with Blue. American Express currently is using the technology for Blue, Blue Cash™ from American Express and several other card products.
American Express is a leading global payments, network and travel company founded in 1850. For more information visit www.americanexpress.com. For specific information about obtaining a license from American Express to manufacture clear card products please contact FairField Resources at (203) 326-4951.
Versatile Card Technology, Inc., a Vmark company, is a globally recognized leader in the manufacture of financial secure cards and a leading American manufacturer of plastic cards. VCT produces cards for every application and offers complete fulfillment services and turnkey solutions. Facilities are located in Turkey, Germany, Mexico, Singapore, South America and India.
Contacts:
Judy Tenzer
212.640.0555
Judy.G.Tenzer@aexp.com