The FINANCIAL — Bank of Georgia will start issuing the American Express Card and the American Express Gold Card in Georgia. The Cards will provide innovative and unique benefits, which are designed to meet the needs of consumers both in Georgia and when traveling around the world, and will be available exclusively through Bank of Georgia 's local network.
"The Cards are designed to satisfy the requirements of busy clients with demanding lifestyles through a range of innovative and unique benefits that are new to the Georgian market. This includes the American Express Membership Rewards program that enables the Cardmember to earn points that can be redeemed for a wide range of retail, travel and leisure rewards," American Express informed.
"I am delighted to announce the launch of the American Express Card in Georgia. Through cooperation with one of the most renowned brands in the world, Bank of Georgia brings an innovative product to the Georgian market, best matching the customer needs. The exclusive right for the issuance of the American Express Gold Card will increase Bank of Georgia 's competitive advantage in penetrating the mass affluent segment, a key component of our retail banking strategy in Georgia," said Irakli Gilauri, Chief Executive Officer, Bank of Georgia .
"The travel, lifestyle and financial needs of Georgian clients are becoming more and more demanding, and the American Express Credit Cards are designed to meet these needs, whether Bank of Georgia 's customers are shopping at home or traveling abroad," Alex Furber, Vice President, American Express, says.
“The business I represent has many recently established partnerships in the region and we believe there is considerable opportunity to grow the American Express brand presence by working with our bank partners to offer American Express Cards that resonate with the consumer and offer the value they are looking for during these times,” Mr. Furber, told The FINANCIAL.
“I think Georgia is a very interesting market and that the Bank Of Georgia is set to play a significant role in the development of financial services in Georgia,” He says.
As Mr. Furber notes, American Express has been around for close to 160 years and many of its brand asset then are as true today as they were back in the 1850’s. Our brand is based on commitment to providing outstanding customers service and innovative products that are tailored to local needs. Through our partnership with The Bank of Georgia we hope to do just that.
“In Q3 American Express earned $642 million in income from continuing operations. This is down 25 percent from a year ago but is in fact a substantial profit when you consider the harsh economic environment,” Mr. Furber says.
“While many of our competitors have struggled, American Express has remained profitable throughout all of the recent quarters in this recession and continues to benefit from its diverse business model which combines the roles of card issuer, network and merchant processor.
We believe the outlook has improved and are looking forward to focusing on growing our business,” Mr. Furber says.
The American Express Gold and American Express Cards launched last week provide a number of benefits and services that are new to the Georgian market as well as several core benefits associated with the American Express brand and products around the world.
Membership Rewards
Cardmembers will earn points every time they use their Cards and will earn 3 times more points when making purchases with their Cards compared to not earning any points when they use cash. The points will never expire and Cardmembers can redeem their points for a wide range of exclusive travel packages, flights, luxury spa treatments, latest electronics, designer watches and cosmetics.
American Express Gold Travel Service
American Express Gold Cardmembers will be able to arrange their travel in style and enjoy exclusive travel offers through our Gold Travel Service, our team of experienced Travel Consultants who are experts in planning every aspect of their trip and available 24×7.
Travel with peace of mind. Travel Accident and Health insurance will protect Cardmembers against injury and medical expenses when traveling abroad and Travel Inconvenience insurance for Gold Cardmembers will cover essential expenses if a flight is delayed or cancelled, luggage is delayed or lost or a connecting flight is missed.
The Cards provide all insurance requirements needed to apply for a Schengen county travel visa at no extra cost.
Retail protection
Whether shopping on the high street or online, virtually all purchases made on the American Express Cards will be automatically covered against theft and damage. Cardmembers also enjoy Fraud Protection and will not be held liable for fraudulent charges if their Card is lost or stolen.
Lifestyle benefits
Cardmembers will be automatically enrolled into the American Express Selects Program, a global network of selected merchants providing exclusive offers and discounts to American Express Cardmembers. Some of the best restaurants, boutiques, retail outlets and various service providers in Georgia are participating in the Selects Program as well as thousands of merchants worldwide.
Financial flexibility
The American Express Cards provide a high credit limit and 55 days of interest free credit on purchases and cash withdrawals, allowing Cardmembers to pay off their balances in full or over time. The Card can be widely used within Georgia in exclusive restaurants, hotels and boutiques as well as in the everyday merchants on the high street. Furthermore, Cardmembers have access to cash from any Bank of Georgia ATM and at more than 800,000 ATMs around the world.
World-Class Customer Service, 24 hours a day, 365 days a year. A team of local professionals will provide 24×7 customer service and can be reached from anywhere in the world. American Express Cardmembers are also able to service their account online and can enjoy the services of 2,200 American Express Travel Service offices around the world.
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