November 6, 2009
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News: AmEx Expands its Global Presence
One of the best methods of expanding your U.S. business is to expand globally. If the company is already a global organization, then continued global expansion is the next option. American Express, one of the largest credit card issuers in the U.S., is expanding their global presence. Last week, JSC Bank of Georgia, the country of Georgia's leading bank announced that they have formed an alliance with American Express to launch its new co-branded American Express Gold credit card, the “Cards”. According to the terms of the agreement, The Bank of Georgia will be the exclusive provider of the American Express credit card in Georgia. In his announcement, Irakli Gilauri, Chief Executive Officer, Bank of Georgia, stated that he was pleased to announce the partnership with "one of the most renowned brands in the world."
Gilauri also stated that he believed that by bringing the new American Express Gold Card to the Georgia market will increase the Bank of Georgia's "competitive advantage" in fulfilling a part of their retail banking strategy. Marketing of the new credit card will be directed toward the busy individual with a demanding lifestyle. The benefits and features of the new American Express Gold Card is a new concept in the Georgia credit card market, including membership in the American Express world-wide rewards program. Cardholders will earn points toward travel, retail products, merchant discounts, and hotel discounts.
American Express's Vice President, Alex Furber, also released a statement saying the company was extremely proud to join Bank of Georgia in offering the new credit card program. Mr. Furber also indicated that American Express is prepared to meet the growing needs of Georgian citizens. American Express will also be sending an unsolicited card to customers of the National Australia Bank Ltd. The Australian Securities and Investment Commission (ASIC) released a statement last week that expressed their concerns as to whether or not the bank violated law by sending out the unsolicited cards. In a response to these concerns, the bank will be contacting their customers to confirm whether or not they want to accept the new American Express card. The bank is asking any customer who has already used the card to write a response if they no longer want the card.