GE Money and American Express Form Card-Issuing Alliance
GE Money issues the first jointly branded credit card with American Express “GE Money American Express Card”
TOKYO.- GE Consumer Finance (GE Money) and American Express today announced a partnership through which GE Money will issue American Express-branded credit cards in Japan. The first product is the “GE Money American Express Card,” which will make its debut in the market tomorrow. This is the first credit card in GE Money’s global card portfolio to carry both the GE Money and American Express brands.
The GE Money American Express Card is designed specifically for people in their late-20s through 30s seeking to enhance their status as they develop their individual lifestyles. There is a strong unmet demand in this market for a credit card that caters to this particular customer group. Both companies, after conducting extensive research on tastes and preferences, believe the stylish black-background design of the GE Money American Express Card will have strong appeal with Japanese consumers in this target profile.
GE Money, one of the world’s leading card issuers with more than 100 million cards in force in 37 countries, will further leverage the alliance by seeking out co-branded card partners with which to issue American Express-branded cards in Japan. American Express is a renowned global brand with more than 157 years of serving the affluent segment and maintains a premium merchant network. The combination of the two companies’ proven global experience and expertise will allow them to provide customized cards to meet the needs of co-brand card partners and their customers.
Yoshiaki Fujimori, president and CEO of GE Money Asia, commented, “Japan is one of the most important financial services markets in the world, and the credit card market in particular offers great potential for growth. With the American Express partnership, we are taking our business in exciting new directions that underscore our commitment to focus on high growth opportunities in this market. This partnership will enable GE Money and American Express to expand and build a card portfolio that serves a wide range of Japanese consumers, beginning with the launch today of the GE Money American Express Card.”
Kula Kulendran, senior vice president of American Express Global Network Services said, “We are pleased to partner with GE Money in Japan, which allows us to broaden the reach of the American Express brand in one of our key markets. GE Money is a solid strategic partner, which provides high-quality, innovative products and services. The partnership combines the best of two leading financial services brands in the world.”
GE Money and American Express will also look into opportunities to extend this partnership to other markets.
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