HSBC Becomes Latest Issuer to Offer American Express Cards
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HSBC
Becomes Latest Issuer to Offer American Express Cards
HSBC North America, issuer of credit cards such as the HSBC
MasterCard and GM Card has announced
an agreement to offer American Express-branded credit cards
starting in mid-2006.
As
with recent agreements announced by Bank of America and Citibank,
American Express will only serve as the payment network for
the new HSBC cards, in much the same way that Visa and MasterCard
serve as payment networks for their member banks. All card issuance,
customer relationships, marketing, billing, charge authorizations
and credit management will be handled by HSBC.
As
it did with Bank of America, American Express announced that
it will dismiss HSBC from its antitrust litigation against Visa,
MasterCard and a number of major U.S. banks.
Published 12/28/05 (Modified 11/26/12)
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