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July 2, 2018

Equity Bank, AmEx sign exclusive merchant acquisition agreement

Equity Bank has signed a partnership agreement to become the exclusive merchant acquirer for American Express (AmEx) cards in Kenya.

Under the agreement, AmEx cardholders will be able to pay at all Equity Bank point-of-sale (PoS) terminals across the country. The transactions will be processed via the bank’s card management systems.

Equity Bank will manage all merchant relationship aspects such as acquisition, statements and marketing.

Equity Bank group managing director and CEO James Mwangi said: “The growth of the American Express merchant network in Kenya will also help to ensure American Express Card members feel as comfortable using their Cards in Kenya as anywhere else in the world.”

The Kenyan lender previously signed an agreement with AmEx in 2013 for card issuance and merchant acquiring in the country. However, at the time, Barclays Bank was also in collaboration with AmEx to acquire merchants.

AmEx vice-president of business development for sub-Saharan Africa Catherine Malec said: “We are very pleased to extend our partnership with Equity Bank in Kenya, making them our exclusive acquirer in the country and reflecting our strategy of building relationships with the leading banks around the world.”

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