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(No Ratings Yet)American Express Appoints First Data as its Exclusive Merchant Acquirer in Poland
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WARSAW, March 04, 2009 — First Data, a global leader in electronic commerce and payment processing services, and American Express, today announced a new merchant services agreement in Poland. Under the terms of the agreement First Data will become the exclusive merchant acquirer and merchant processor for American Express® Card transactions in Poland.
First Data will assume responsibility for the range of merchant services including signing new merchants to accept American Express branded cards, managing relationships with existing merchants and processing merchant transactions on the American Express network. First Data will also be responsible for managing and implementing new solutions for American Express merchants in Poland, including migration to the EMV standard. American Express Card acceptance will remain available to Polish merchants through a number of acquiring agents, overseen by First Data.
“This exclusive agreement gives First Data’s Polish operation a sustainable, competitive advantage, unmatched by any other bank or competitor in the region,” said Nigel Bidmead, Senior Vice President and Head of First Data’s International Merchant business. “We believe that we will be able to further grow card acceptance for American Express in Poland and introduce a totally new level of service quality to our merchants.”
“In First Data we have [...] Continue Reading…
(No Ratings Yet)Merrill Lynch Fund Manager Survey Finds Chinese Economic Optimism Fuelling Improved Growth Outlook
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Hopes higher than at any point since start of credit crunch
NEW YORK and LONDON, Feb. 18 /PRNewswire/ — Fresh optimism over China’s growth prospects has led to a marked improvement in economic sentiment globally, according to the Merrill Lynch Survey of Fund Managers for February.
Investors are at their most hopeful about the year ahead since the credit crunch took hold in July 2007, with the number who forecast a worsening economy in the 12 months ahead falling to a net -6 percent. This compares with a net -24 percent in January. The majority recognises, however, that the world economy is in recession.
Fears of a prolonged slowdown in China appear to be fading. The number of investors who predict lower growth in China over the coming 12 months has fallen sharply, to a net 21 percent in February from a net 70 percent in January.
Similarly, severe pessimism about the outlook for corporate earnings has started to ease. A net 43 percent of respondents expect to see deteriorating profits over the coming year, significantly lower than the 63 percent who held that view in December. A net 49 percent of the panel predicts inflation will fall over the coming 12 months, [...] Continue Reading…
(No Ratings Yet)Membership Rewards® Program from American Express Adds Practical Rewards for Tough Economic Times
NEW YORK, February 18, 2009 — American Express is introducing several new options within the Membership Rewards® program that offer practical rewards for these tough economic times. The newly added reward offerings allow Cardmembers to save their cash while redeeming points for gas cards; household appliances, such as washers, dryers and dishwashers; and gift cards at an expanded list of casual dining restaurants and broader range of retailers.
The addition of these types of rewards to the Membership Rewards program reflects a shifting demand in the way consumers want to use points. While many Cardmembers have traditionally used points as a way to treat themselves to luxury vacations, these economic times have many consumers looking for more flexibility and choice in the way they can use points.
“The introduction of these rewards to the Membership Rewards program underscores American Express’ commitment to continuously listen to our Cardmembers and provide rewards that are the most relevant to their lifestyle and resonate most with them,” says Tracey Beberman, vice president, Membership Rewards Marketing, American Express. “These new rewards give them even more ways to redeem points and get the kinds of things they want and need.”
Fill up the Tank with Points
The [...] Continue Reading…
(No Ratings Yet)JPMorgan Chase Investor Day
New York, February 13, 2009 - On Thursday, February 26, 2009 at 8:30 a.m. (Eastern), JPMorgan Chase & Co. will hold an investor day in New York City with presentations given by Jamie Dimon, Chairman and Chief Executive Officer, and members of executive management. The presentations, including a question and answer session, are expected to conclude at approximately 5:00 p.m.
Presentation slides and a link to the live audio webcast will be posted on the day of the event to www.jpmorganchase.com under Investor Relations, Investor Presentations.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and WaMu brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
(No Ratings Yet)American Express OPEN(SM) Expands Business Savings Program
Automatic 5% discount on Carey International Ground Transportation and Epson America Office Equipment
NEW YORK, February 12, 2009 — American Express OPEN today announced the expansion of its OPEN Savings® program with the launch of partners Carey International and Epson America. OPEN Savings(1) provides small business owners with automatic savings virtually every time they use an American Express Business Card to make purchases at any OPEN Savings partner.
Business Cardmembers can now receive an automatic 5% discount on:
* Carey International, a premier provider of worldwide chauffeured services and luxury ground transportation; and
* Epson America, including WorkForce(TM) printers, Epson projectors, scanners and other innovative products.
OPEN Savings has delivered more than $300 million in savings to American Express Business Cardmembers since 2004. OPEN Savings eliminates the need for offer codes, coupons or program enrollment and provides automatic savings from an array of well-known brands. Savings can also be combined with other marketplace offers or volume discount pricing that businesses may already be receiving from program partners.
“With the addition of these new partners, businesses can now effortlessly reduce their ground transportation and some office equipment expenses,” said Mary Ann Fitzmaurice Reilly, senior vice president, American Express OPEN. “Time-pressed business owners who are weary of [...] Continue Reading…
(No Ratings Yet)MBNA Connect Receives Industry Accolade
CHESTER, UK – A new online secure message delivery service that delivers account information to a cardholder’s computer desktop has received industry recognition at the 2009 Credit Card Awards held in London on Thursday evening.
MBNA Connect allows customers to download an application to their computers, and keep up to date with secure account balances, transaction updates, latest offers, mini-statements and more via desktop alerts.
MBNA Connect received the ‘Best Online Initiative’ award at the Card Awards ceremony which was held at Battersea Evolution in London and was hosted by radio presenter John Humphreys. The application has been developed by MBNA in conjunction with Skinkers Limited.
MBNA Connect is a secure downloadable application available to MBNA Online Banking customers. It allows customers to access account information on their desktops without having to log in to their account. The tool provides the customer with the most up-to-date balance, recent transactions, service information and personalised offers. MBNA Connect also provides a facility to configure a variety of alerts relating to account activity.
The key benefits that MBNA customers will gain by using MBNA Connect include:
• Improved financial management (for example: customers can set an alert to notify them when their balance reaches a certain amount);
• [...] Continue Reading…
(No Ratings Yet)JPMorgan Treasury Services Goes Live With New Global Payments Operating System in Europe
Development is part of previously announced $1 billion expansion plan
London, 9 February 2009 - J.P. Morgan’s Treasury Services business today announced it has gone live with the first phase of enhancements to its international mass payments operating platform.
The enhancements will deliver immediate benefits to clients using the bank’s Global ACH service, including later cut-off times for receipt of payment instructions and intelligent routing which automatically selects the most expeditious route if a cut-off is missed.
Global ACH provides a single gateway for high volume multicurrency payments and collection services across multiple regions. Clients will also now have access to full SEPA credit and debit services from J.P. Morgan accounts domiciled in Belgium, France, Germany, Ireland, Italy, Netherlands, Spain, Switzerland and the UK.
Alex Caviezel, head of J.P. Morgan Treasury Services in Europe, Middle East and Africa, said: “These payment platform enhancements will provide clients with more options to manage their payables and receivables processes more efficiently. The new capabilities are part of J.P. Morgan Treasury Services’ $1 billion global expansion and investment plan, which was announced last September.”
About J.P. Morgan Treasury Services
The Treasury Services business of J.P. Morgan is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, [...] Continue Reading…
(No Ratings Yet)EMVCO Welcomes American Express As Its Fourth Owner-Member
LONDON, February 03, 2009 — EMVCo, the EMV standards body jointly owned by JCB International, MasterCard Worldwide and Visa Inc., today announced American Express as its fourth owner-member. The addition of this latest international payment organisation aligns with EMVCo’s intent to attract further industry participation in the development of the EMV Specifications.
As an established supporter and end-user of EMV technology, American Express has acquired a one-fourth share of EMVCo from the respective holdings of JCB International, MasterCard Worldwide and Visa Inc., and will therefore have an equal interest in the organisation. EMVCo’s management structure has been changed to give American Express representation on the organisation’s Executive Committee and Board of Managers, in addition to equal participation in its working groups.
“EMVCo welcomes American Express as its fourth global payment system member,” said Tad Fordyce, Chairman of the EMVCo Executive Committee and Head of Global Cross Product Platforms at Visa Inc. “American Express will be able to lend expertise at both the technical and management level which will directly support the EMVCo goal to enhance global chip standards, and offer secure and interoperable payments at the point of sale around the world.”
Susan Hillel, Senior Vice President of Global Network Operations at [...] Continue Reading…
(No Ratings Yet)Bank of America Names Three Merrill Directors to Its Board
CHARLOTTE, N.C., Jan. 28 /PRNewswire/ — Bank of America Corporation today elected three Merrill Lynch directors to its board: former IRS Commissioner Charles O. Rossotti, former Miller Brewing Company executive Virgis W. Colbert, and former Ambassador to the People’s Republic of China Admiral Joseph Prueher.
“We are very pleased to add these directors to our board,” said Chairman and Chief Executive Officer Ken Lewis. “Their experience managing large, complex organizations and working throughout multiple countries will serve Bank of America well as we successfully integrate Merrill Lynch’s global operations into our company. These directors will provide strong leadership and perspectives.”
Rossotti, 67, is a senior advisor at The Carlyle Group, focusing primarily on investments in the fields of information technology and business services. He began serving on the Merrill Lynch Board of Directors in 2004 and is expected to serve on both of Bank of America’s Corporate Governance and Compensation and Benefits Board committees.
Colbert, 69, is the retired executive vice president of Miller Brewing Company. He began serving on the Merrill Lynch Board of Directors in 2006 and is expected to serve on Bank of America’s Asset Quality Board committee.
Prueher, 66, is a consulting professor at Stanford University’s Institute of International [...] Continue Reading…
(No Ratings Yet)Tough Times, Smart Measures: Top Global Companies Reveal Best Expense Management Practices
American Express Research Uncovers Opportunities for Significant Cost Savings
NEW YORK, January 26, 2009 — American Express Global Commercial Card today released a new study detailing how companies are instituting best practices and driving savings to control their costs in an economic downturn.
Working with Accenture, American Express interviewed a number of Fortune 500 companies in industries ranging from consumer products to business services. These companies had median gross revenues of $30 billion, and were identified as having leading T&E spending policies.
The research revealed that leading companies are focusing on three core strategies to improve expense management:
1. Hold Employees Accountable,
2. Drive Value through Data Analysis, and
3. Plan for the Long-Term.
Click here to see the full study.
“Today’s economic crisis is putting great pressure on companies to reduce costs and control spending wherever they can,” said Gunther Bright, Senior Vice President, Global Client Group at American Express. “By gathering best practices from some of the best expense management programs in the world, we can share a number of concrete, straightforward steps that virtually any company can take to reduce costs and deliver savings and value well into the future.”
Hold Employees Accountable
Perhaps the simplest recommendations begin with making employees more accountable for their corporate [...] Continue Reading…
