American Express and HSBC Argentina announced the launch of the HSBC American Express Card. Under the agreement between the two institutions, HSBC Argentina will issue American Express-branded credit cards denominated in Argentinean Pesos and U.S. Dollars. The new Cards are accepted on American ExpressÂ global merchant network.
The agreement represents a unique opportunity for HSBC and American Express to reinforce their existing alliance in Latin America, a cooperation that includes a similar card-issuing Partnership with HSBC Brasil.
ÂThe launch of HSBC Argentina American Express Cards marks yet another important step for American Express in its commitment to the Argentinean market,Â said Gonzalo G. Ruiz, Vice President and General Manager, American Express Global Network Services, Latin America and the Caribbean. ÂIn just one year American Express has built a network of five issuers in the country. As a result, American Express is in its strongest position ever to provide a far greater group of customers in Argentina with the opportunity to experience and benefit from the service of an American Express Card. I am confident this new partnership will combine American ExpressÂ global strength and the expertise of HSBC Argentina to bring superior value to Argentinean customers.Â
The HSBC Argentina American Express Card, which carries the American Express Blue Box logo at the bottom right corner, is designed, issued and serviced by HSBC Argentina. Cardmembers will enjoy a broad spectrum of distinctively value-added benefits, including
Â· 24-hour-a-day, 7-day-a-week customer service;
Â· Travel assistance at more than 1,700 American Express Travel Service Offices in 130 countries;
Â· Cash access at more than 500,000 ATMs in American ExpressÂ global network;
Â· Medical and legal assistance;
Â· Travel accident insurance;
Â· Purchase protection;
Â· Direct debit of monthly balance from HSBC Argentina checking or saving account;
Â· Year-end summary for HSBC American Express Gold Cardmembers;
Â· Card loss/theft insurance; and
Â· Special access to HSBC Argentina banking services.
Under the agreement, HSBC Argentina is responsible for all operations supporting the new Cards including billing and payment systems, accounting, customer servicing, credit management and charge authorizations, as well as marketing the Cards in Argentina.
American Express is aggressively pursuing a strategy of opening its merchant network and card product portfolio to other card issuers around the world, as a major growth initiative for the company. By leveraging its global infrastructure and the powerful appeal of the American Express brand, the company aims to become the premier global network and gain wider reach to customers worldwide. In the last several years it has developed 76 card-issuing relationships in more than 70 countries. In Latin America alone, American Express has established 23 such alliances in 16 markets, allowing the company successfully to build its business in the region.
HSBC Argentina belongs to the HSBC Group, one of the worldÂs largest banking and financial services institutions. Headquartered in London, the HSBC Group has more than 6,500 offices in 79 countries. HSBC Argentina is one of the most important financial institutions in Argentina, with 160 network branches throughout the country. Its services range from consumer and commercial banking to general, health and life insurance.
Founded in 1850, American Express Company is a diversified worldwide financial, network and travel services provider. Its presence in Argentina dates back to 1918. Today, American Express is a global leader in charge and credit cards, travelers cheques, financial planning, travel, investment products, insurance and international banking.Details