O3 Capital, Nigeria’s first non-bank credit card issuer has agreed a deal to issue four new Amex credit cards.

The O3 American Express Green, Gold, and Platinum Cards enable O3 Capital to enhance its overall customer offering. It is providing American Express Card Members with a range of travel and lifestyle benefits for use in Nigeria and when travelling overseas. The cards benefits include discounts at select businesses across Nigeria, cinema and dining perks, hotel and car rental benefits.

O3 American Express Platinum Card

Additionally, the O3 American Express Platinum Card will provide access to a travel and lifestyle concierge service. It also includes membership of a global hotel programme, and five complimentary visits per year to eligible local and international airport lounges. Cards will be able to be used at American Express accepting merchants across Nigeria and around the world.

O3 American Express Gold Business Card

The O3 Amex Gold Business Card is the first Amex card in Nigeria to support the spending needs of businesses. This card will improve the day-to-day management of business transactions and cashflow. It gives access to a credit facility, the ability to perform international transactions, and the inclusion of an extended repayment period of up to 45 days.

It will also aim to support the running of a business. Benefits include three complimentary visits per year to eligible local and international airport lounges. It also offers car rental perks, and travel insurance.

Significant milestone for O3 Capital, Nigerian businesses

Abimbola Pinheiro, CEO of O3 Capital, said: “This is a significant milestone, both for O3 Capital and for Nigerian businesses. We will provide solutions for a wide range of customers. From consumers looking for more value from their payment products to businesses who want to enjoy the benefits of a domestically issued card with the international reach of American Express. We are particularly proud to be the first who will issue an American Express Business card to the Nigerian business community. We look forward to working with American Express to fulfil our potential.”

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Mohammed Badi, President of Global Network Services at American Express, added: “With the O3 Capital American Express cards, consumers and businesses in Nigeria will have even more payment choice. American Express is excited to continue to strengthen its presence in Nigeria and expand its reach across Africa. The first-ever American Express Business Card in the most populous African country will give us another way to support local businesses with their growth aspirations.”

O3 Capital: second-largest credit card issuer in Nigeria

Established in 2014, O3 Capital is currently the second largest credit card issuer in Nigeria with over 20,000 cards. It has strategically focused on issuing Naira-denominated credit and prepaid cards to the Nigerian market.

Its aim is to promote credit card usage in Nigeria and leverage the opportunities presented by the changing financial landscape. In March 2023, O3 Capital established a NGN5bn ($3.6m) commercial paper. That marks the first step in its strategic plan to fund the future growth of the company.