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HSBC and American Express announce card-issuing alliance
23 December 2005
HSBC – North America Holdings, Inc. and American Express have announced an agreement that will see HSBC offer American Express-branded credit cards in the United States.
Under the terms of the agreement, HSBC will issue the cards, manage customer relationships and be responsible for all marketing, billing, charge authorizations and credit management. American Express will process transactions through its merchant network and the cards will be welcomed at millions of locations worldwide. HSBC expects to begin issuing cards in mid-2006.
HSBC is one of the world’s largest card issuers. The partnership with American Express will allow HSBC to expand its product range and offer broader choice, value and convenience to customers and prospects.
“HSBC is pleased to embark on a key partnership with American Express,” said Walter Menezes, group executive-HSBC Card Services.
“The addition of the American Express card to the existing HSBC product offerings will provide consumers with a broader scope of quality services.”
HSBC – North America comprises all of HSBC’s U.S. and Canadian businesses, including the former Household International businesses. The company’s businesses serve more than 60 million customers in five key areas: personal financial services, consumer finance, commercial banking, private banking and corporate, investment banking and markets. Financial products and services are offered under the HSBC, HFC and Beneficial brands.
American Express Company is a diversified worldwide travel, financial and network services company, founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, and business services.
Visit HSBC’s US press room for more information.
Media enquiries to pressoffice@hsbc.com
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