Moscow-based Russian Standard Bank (RSB) will issue the first Russian ruble-denominated American Express Cards and will also be able to issue US dollar-denominated cards from the US-based credit card company.
Under the terms of the agreement, RSB will be responsible for issuing the cards, managing customer relationships, providing customer service, billing and credit management.
This partnership opens up an exciting new chapter in our company’s presence in Russia, said Peter Wright, senior vice president of global network services at American Express. Russian Standard Bank is one of the most dynamic banks in Russia and will be an outstanding partner to issue American Express Cards.
While RSB’s deal with American Express enjoys exclusivity, the US credit card issuer said that it was open to the possibility of partnering with other Russian banks to issue their own cards in Russia that would be accepted on the American Express merchant network.
