Banco do Brasil has entered into a strategic partnership with American Express, according to which it will issue American Express-branded cards that will be accepted on the American Express merchant network.
Under the terms of the agreement, Banco do Brasil will be responsible for all elements involved in issuing the Ourocard Estilo Platinum American Express and the Ourocard Platinum American Express – including credit analysis, customer service and marketing strategy. Moreover, it is also responsible for authorization, billing, credit and risk management and accounting. Banco do Brasil’s American Express-branded product line includes branding from both Banco do Brasil and American Express.
The company reported that the products are targeted primarily at the high-income segment in Brazil, and both products offer benefits, such as a higher earn rate on Banco do Brasil’s rewards program, Ponto pra Você, and special travel and entertainment benefits and privileges from American Express. The new cardmembers will be able to use the credit card to pay utility bills, such as water, electricity and gas without incurring any additional fees. These utility bills can be paid automatically on the due date and will be included in the Ourocard American Express statement. This offer is valid through the end of September.
It states that the annual card fee will be waived for customers who have another card from Banco do Brasil with active credit.
Paulo Rogério Caffarelli, Vice-President of Cards and New Business, Banco do Brasil, said: “By partnering with American Express, Banco do Brasil can provide more choice, benefits, flexibility and convenience to our customers, who can now choose among the top three international credit card networks that exist in the market.”
Carlos Pascual, American Express Regional President, Global Network Services, Latin America and the Caribbean, said: “We are delighted to partner with Banco do Brasil, as their proven success and years of experience will give us a new opportunity to continue extending the American Express brand within the Brazilian market.”
