American Express in card issuing alliance with Citibank

MUMBAI: American Express and Citibank have reached an agreement for to issue credit cards in the United States that will be accepted on the American Express global merchant network. American Express anticipates that the new credit card products developed by Citibank will be available in late 2005.
 
 

Citibank will be responsible for issuing the cards, managing the customer relationships, providing service, billing and credit management and designing the card product features. American Express will process transactions on its global merchant network.
 
 

“As one of the world’s most prestigious financial institutions, Citibank is a tremendous addition to the American Express network,” said American Express chairman and CEO Kenneth I. Chenault. “We are committed to working with outstanding partners like Citibank and the premiere customer experience they provide.”