American Express, Uruguay´s Nuevo Banco Comercial Trumpet Alliance

American Express and Nuevo Banco Comercial have signed an agreement under which the Uruguayan bank will affiliate new establishments to the American Express merchant network and issue American Express-branded products in the local market.

This partnership is the first of its kind between American Express and a Uruguayan financial institution.

Under the agreement, Nuevo Banco Comercial, a privately held financial institution, will be responsible for all operations supporting the Nuevo Banco Comercial American Express Cards, including billing and payment systems, accounting, customer servicing, credit management and charge authorizations, as well as marketing the Cards in the country.

In addition, Nuevo Banco Comercial will also take over responsibility for acquiring and servicing local merchants accepting the American Express Card in Uruguay. This will enable American Express to dramatically increase the number of establishments accepting the American Express Card in Uruguay and, as a result, significantly enhance the relevance and utility of the Card to customers living in or visiting the country.

Nuevo Banco Comercial has rapidly become the main privately held domestic bank in Uruguay. With 48 branches distributed around Uruguay, the bank is present both in the consumer and corporate markets, and holds a leading position in the credit and debit card market.