JEDDAH, 12 March 2004 — Seven leading Saudi banks have concluded deals with Amex Limited (Saudi Arabia) to accept American Express cards electronically at point of sale terminals installed in retail outlets and service establishments throughout the Kingdom, it was announced by Mazin Khoury, chief executive officer of Amex.
The banks involved are Saudi Investment Bank, National Commercial Bank, Saudi Hollandi Bank, Riyad Bank, Saudi British Bank, Arab National Bank and Banque Saudi Fransi.
Khoury said, “The conclusion of deals in the Kingdom is a vital move for American Express as it will significantly increase the number of point of sale terminals that accept American Express. We are happy to work with the Saudi banks and acknowledge that these agreements have created win-win situations for all of us.”
“These agreements mean that merchants on the banks’ networks will no longer have to call for voice authorization, thus making transactions faster and more convenient,” he stated.
Khoury added, “With the Kingdom’s leading banks on board, we will be able to build stronger relations with our partner merchants and launch new innovative programs for our card members. The Saudi banks are crucial to the success of our merchant marketing programs and we will continue to build stronger relations with them.”
Amex Limited (Saudi Arabia) was established in 1999, with its head office in Riyadh.