MasterCard and Citibank have enjoyed a mutually beneficial relationship for years and we look forward to continuing and growing that relationship. American Express recently announced that they will launch a program with Citibank. Given the competitive nature of the payments industry, this kind of experimentation is to be expected. The real test will be how much traction these programs get over the long term. As evidenced by the consumer complaints that have been the subject of media reports over the last several weeks, experimental programs with American Express have thus far proven to be neither innovative nor a win for consumers.
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