Home Tech Equity Bank to Issue Over 9 Million American Express Cards in East Africa

Equity Bank to Issue Over 9 Million American Express Cards in East Africa

by Sam Wakoba
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James Mwangi Equity Bank CEOKenya’s Equity Bank has  signed a deal with American Express to issue American Express cards in Kenya, Uganda and Tanzania. as well as sign up new merchants on to the American Express network in the region.

Dr. James Mwangi, Equity Bank Group CEO said, “This partnership is in line with our business strategy of becoming a one stop international payment gateway and giving our customers and partners the freedom of modern banking in today’s fast-paced world. Our investment in a robust IT platform continues to pay dividends and gives us the opportunity to continue investing in products and services that suit our customers who are increasingly becoming technology-driven and seeking borderless and seamless financial services.”

The American Express Green Card and American Express Gold Card will aid consumers in personal travel, lifestyle and financial needs.  The Green Card is good for those who will mainly use their Card to spend at local merchants in Kenya while the Gold Card offers an additional tier of travel and lifestyle benefits and is particularly suited to those who are more frequent travellers or more likely to spend on leisure such as dining out.

Both card holders will enjoy outstanding benefits, rewards and world class service plus travel accident insurance, travel inconvenience insurance including personal belongings protection, retail protection insurance including mobile phone theft protection, and access to emergency cash advances and 48 hour Card replacement services. Users are also entitled to loyalty rewards on each use at merchant locations and ATMs, and can redeem them for flights, hotel stays, electronics, retail vouchers and luxury goods.

Late last year, the two companies signed an agreement where Equity Bank acquires American Express Cards onto the Bank’s POS terminals and ATMs.  As an American Express merchant acquirer, Equity Bank is supporting the expansion of the American Express network by developing and maintaining new merchant relationships in Kenya, Tanzania and Uganda.

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