US credit card issuer First National Bank of
Omaha will begin issuing American Express (Amex) cards in a bid to
strengthen its co-branding opportunities in the premium
segment.
Under the card-issuing partnership, the bank
will roll out its Amex cards during the first half of 2011 and will
become one in only a handful of issuers that offers its customers
the four big card brands, Visa, MasterCard, Amex and Discover.
Go deeper with GlobalData
The latest announcement comes after a
multi-year agreement was signed last week allowing First National
Bank of Omaha to issue credit cards on the Discover network.
“We are excited about our new relationship
with First National Bank of Omaha, and we are looking forward to
helping them target new customers and co-brand partners with a
compelling new product range,” said William Stredwick, senior vice
president and head of North America, Amex Global Network
Services.
“First National Bank is a highly respected
financial services institution, and we are confident that we can
add tremendous value to First National Bank’s product portfolio as
it further deepens its penetration into the premium segment.”
According to the terms of the deal, First
National Bank of Omaha has committed to the management of customer
relationships and the responsibility for all marketing, billing,
charge authorisations and credit management. The transactions will
be processed through Amex’s merchant network.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“Our new card-issuing partnership with
American Express will help us significantly broaden our co-brand
opportunities, particularly in the premium segment,” said Stephen
Eulie, president, First National Credit Card Centre.
“With American Express’ vast knowledge and
expertise in delivering differentiated products and services, we
will be able to deliver exciting new benefits, services and product
offerings that will appeal to our mass-affluent customer
segments.”
A top 15 issuer of credit cards, First
National Bank of Omaha, a subsidiary of First National of Nebraska,
has over 600 institution, co-brand and affinity partners.
