Equity Bank and American Express today announced a partnership agreement, through which Equity Bank will act as the exclusive issuer of American Express Card products in Kenya, Tanzania and Uganda. As part of this agreement, Equity Bank will also acquire merchants on to the American Express network in these countries.
Equity Bank will begin issuing American Express-branded products by the first half of 2014. The new products will be introduced in Kenya first, with additional cards launching in Tanzania and Uganda throughout 2014, subject to regulatory approval. Equity Bank will begin acquiring merchants beginning this December in Kenya.
“We are pleased to enter into this agreement with American Express, which will further strengthen our customer relationships and also give us an opportunity to serve American Express Card members in East Africa,” commented Dr. Mwangi, Group CEO and Managing Director, Equity Bank. “This partnership is in line with our business strategy of becoming a one stop shop for financial services and giving our customers and partners the freedom of modern banking in today’s fast-paced world. Our investment in a robust IT platform continues to pay dividends and gives us the opportunity to continue investing in products and services to suit our customer who is increasingly becoming technology driven and is seeking borderless and seamless financial services.”
In the last year, Equity Group has made significant investments in its diaspora remittances, merchant acquiring infrastructure and banking and transaction processing by connecting to leading global payment systems.
“Our partnership with Equity Bank marks our first foray into offering American Express products in East Africa, where we see a number of unique and exciting growth opportunities,” said Peter Wright, Executive Vice President and Head of EMEA Partner Card Services. “We are delighted to partner with Equity Bank, who is a leader in financial innovation, and we look forward to delivering a compelling range of new products to its extensive base of customers and expanding the scope and reach of the American Express brand in this region.”
Under the terms of the agreement, Equity Bank will be responsible for all elements related to issuing its American Express-branded products, including designing the product features, owning the customer relationships and providing billing and credit management. In addition, as an American Express merchant acquirer, Equity Bank will support the expansion of the American Express network by developing and maintaining new merchant relationships in Kenya, Tanzania and Uganda.
Equity Bank Tanzania limited imeingia ubia na Klabu ya Simba katika kutoa kadi zenye chapa zao...View More
Equity Bank has today kicked off the issuance of Simba Fan Cards to over 20 million fans of the...View More
Equity Bank Tanzania has today handed over 5 mobile police posts to the Ministry of Home Affairs...View More
Benki ya Equity imezindua huduma za benki kwa njia ya kimtandao, huduma hizi zilizopewa jina...View More
The new tax settlement avenue will be available for all TRA clients including non- Equity Bank...View More
Equity Bank Group, on Thursday announced that its profit after tax for the third quarter of 2014...View More
Regional financial services provider Equity Bank Group has returned to its traditional growth path...View More
Equity Bank Group’s investment in ICT and Focus on SME boosts profits by 11 percent in the year...View More
The approvals, which were secured during the firm’s 11th Annual General Meeting (AGM) held today...View More
Regional banking group, Equity Bank's reduction of interest rates by 700 bps from 25% to 18% has...View More
Equity Bank Group strengthens its fundamentals while expenses of ICT, Innovation and Product Rollout...View More
The Group’s total assets posted a 24% growth during the year to close at Ksh 243 billion up from...View More
Partnership to increase financial inclusion and boost EMV migration efforts in the region.View More
The new identity is aimed at creating a sustainable growth path and service delivery in today’s...View More
Equity becomes the 1st bank in Eastern and Central Africa to achieve this milestone paving way for...View More
Becomes the first bank in Eastern and Central Africa to achieve the trillion-shilling balance sheet...View More
The Award is conferred annually to exceptional individuals who exemplify their outstanding `business...View More
The service presents the exciting prospect for the Tanzania community to receive seamless...View More
Equity Bank (T) leo imenzidua rasmi akaunti maalum ya utunzani fedha kwa kujiwekea kidogo kidogo ili...Zaidi
Equity Bank (T) imeahidi kuendelea kutoa elimu ya fedha na mikopo nafuu kwa vikundi vya uwekezaji na...Zaidi
Customers with Equity Bank accounts can now transact seamlessly in any of the Equity Bank branches...View More
Customers will have the freedom to execute forex requirements in real-time in a safe, convenient and...View More
Equity Bank Kenya Limited has received two International Standards Certifications - ISO 20000 and...View More