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Wednesday, December 12, 2012

Yes Bank enters credit card space with AmEx

Private sector lender YES Bank today announced its entry inot the credit card segment under a tie-up with American Express to offer credit cards for the high-value customer segment.

The premium cards -- American Express Platinum Reserve Credit Card, American Express Platinum Travel Credit Card and American Express Gold Card -- will be offered from the bank’s branches in seven cities.

The mid-sized bank will benefit from American Express' "membership rewards programme, service and access to a network of merchants across 200 countries," the bank said in a statement.

Rana Kapoor, Chief Executive Officer and Managing Director, said, "Credit Cards are a natural extension and will constitute an important part of our payments portfolio and the immense brand and franchise value of American Express is a complementary fit to our product suite. We will leverage each other’s strengths to provide valuable product offerings to our discerning customers."


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