Russian Standard Bank signs new 10-year contract with American Express
Russian Standard Bank and American Express today announce that they have signed a new 10-year contract to continue their successful card issuing and merchant acquiring partnership. Under the terms of the contract, Russian Standard Bank remains the exclusive issuer of the American Express Centurion Card line in the Russian Federation. Additionally, Russian Standard Bank retains the exclusive rights to acquire American Express Multinational Accounts (MNAs) in Russia.
The agreement, signed by Russian Standard Bank and American Express, is not just a contract between the private Russian bank and American Express, it signals the continuation of a strong and collaborative partnership, which aims to bring innovative solutions and leading developments to the Russian payments industry.
Russian Standard Bank retains exclusive rights to issue and service the American Express Centurion Card line in the Russian Federation under the terms of the contract. The Centurion line is a range of American Express-branded Cards featuring an image of a Roman Centurion. Russian Standard Bank has been the sole issuer of these products in Russia since 2005 and issues the American Express® Card, the American Express® Gold Card, the Platinum Card®, and the invite-only Centurion Card®.
In addition, Russian Standard Bank will continue to issue a range of Cards featuring the American Express ‘Blue Box’ logo. These include the British Airways American Express® Premium Card, the RSB Travel Classic Card® and RSB Travel Premium Card® that allow Cardmembers to accumulate rewards when travelling, the American Express® Design Card where customers choose the design of their Card, as well as a range of prepaid Travel Cards.
The new contract also provides Russian Standard Bank with ongoing exclusive right to acquire American Express Multinational Accounts in Russia. MNAs are large global merchants that sign an acquiring contract with American Express at a global level. Russian Standard Bank will work exclusively with MNA clients operating in Russia.
More than 1000 employees of Russian Standard Bank has been working for the last 10 years on development of the American Express cards acceptance network in Russia, expansion of the network of trading partners of the payment system, interaction with the existing contractors, as well as on the processing of transactions, made with American Express cards in our country. Through this work, acceptance of AmEx cards, which had previously been present in Russia only in the travel area and luxury segment, has spread throughout the country and penetrated into all business segments. Today Russian Standard Bank, that built one of the largest acquiring networks in the Russian Federation, also provides 20 partner-banks with an opportunity to accept American Express cards.
Russian Standard Bank is responsible for issue, acquiring and promotion of AmEx cards on the national market, it sees its strategic target to make American Express cards acceptable everywhere, and make their holders feel in Russia as comfortable as anywhere else world.
"Over the last 10 years, Russian Standard Bank has done an outstanding job of expanding the range of American Express Cards available in Russia and growing the base of Cardmembers, as well as developing merchant acceptance. We look forward to building on this success even further in partnership with Russian Standard Bank,” said Colin O'Flaherty, Vice President and General Manager, Bank Partnerships, at American Express.
Holders of premium American Express card, above all, acquire their card for high credit limits, free travel insurance programs for card holders and their family members, loyalty program, exclusive benefits from the bank’s partners unparalleled and an exceptional level of service.
So far no other payment system in the world was able to repeat the American Express working model of travel and leisure organization. Many years of international experience in development of benefits, as well as significant experience in cooperation with partners, formed a unique business model, including modern information technologies, many of which are proprietary developments of American Express payment system.