MasterCard Statement Regarding the American Express - Citibank Announcement

Tuesday 14 December 2004 00:23 CET | News

As a global brand with unsurpassed merchant acceptance, MasterCard has brought spectacular innovation, enormous success and real value to its customers and to the payments industry. 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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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce