American Express (Amex) has announced its first bank branded charge card in Hong Kong.
From the start of next month, Banque Nationale de Paris (BNP) will offer branded Amex gold cards to customers.
Amex has for some time wanted to take the Visa/Mastercard approach of distribution through issuing banks but this is the first deal of its kind with a financial institution that Amex has been able to sign in the SAR.
In May it teamed up with Cheung Kong (Holdings) to offer a credit card. Reward points accumulated on the card could be used as part of a down-payment on a property or to pay approved agency or solicitors' fees.
Amex president of Asia-Pacific and Australia Vijay Parakh said: 'Creating closer relationships with banks is a key strategic direction for the American Express business expansion worldwide. The American Express BNP alliance is indeed a very good start for our bank-partnership drive in Hong Kong.' It is thought that Amex efforts to involve Hongkong Bank in such a partnership had been turned down.
