Sberbank, American Express Announce Card-Issuing Partnership
OREANDA-NEWS. November 15, 2010. Sberbank of Russia and American Express announced that Sberbank will become an American Express card-issuing partner in Russia. By early 2011, Sberbank will begin to issue premium and super-premium cards, which will be issued in Russian Roubles, Euros and U.S. Dollars and feature both Sberbank’s logo and American Express’ Blue Box logo on the front of the cards, reported the press-centre of Sberbank.
These cards will provide new, compelling benefits for Russian consumers and will be designed to meet the needs of Sberbank’s customers in its mass-affluent and VIP segments.
“We are very pleased to partner with American Express to issue these new cards,” said Alexander Torbakhov, Deputy Chairman of the Board, Sberbank. “As the leading retail bank in Russia, our partnership with American Express and its truly prestigious, global brand promises to be a win-win for both of our organizations and, most importantly, for our customers. This agreement allows us to further broaden our range of card products and provide our customers with access to unique and innovative card services with internationally acclaimed benefits and privileges.”
“Our alliance with Sberbank marks yet another significant step in American Express’ partnership strategy in Russia,” said Pascal Guignard, Vice President and General Manager, American Express Global Network Services. “The new card-issuing partnership with Sberbank will give us the opportunity to further extend American Express’ presence in the market and provide high-quality, premium products to an even greater group of customers in Russia. This latest alliance also represents another important move forward in our global network strategy, which is of increasing strategic importance to American Express.”
As part of the partnership agreement, Sberbank will issue the American Express-branded cards and be responsible for the customer service, marketing, credit and risk controls on these products.
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