Bloomberg News

Wells Fargo Ties Up With AmEx for Credit Card Issuing Program

August 07, 2013

Wells Fargo & Co. (WFC:US) will tie up with American Express Co. (AXP:US), the world’s biggest credit card issuer by purchases, to offer cards accepted on American Express’s network of merchants.

Wells Fargo, the largest U.S. home lender, will begin a pilot program in select U.S. markets in the third quarter of 2013 before offering all customers a full program starting in the first half of 2014, the companies said in a joint statement. Financial terms of the agreement weren’t disclosed.

“We are delivering on our strategy to expand our credit card business,” John Stumpf, chief executive officer of San Francisco-based Wells Fargo, said in the statement. “Our goal is to offer Wells Fargo customers a suite of cards that help them meet their financial goals.”

To contact the reporters on this story: Colin Keatinge in Singapore at ckeatinge@bloomberg.net; James Gunsalus in Tokyo at jgunsalus@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net


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Companies Mentioned

  • WFC
    (Wells Fargo & Co)
    • $52.1 USD
    • 0.56
    • 1.07%
  • AXP
    (American Express Co)
    • $90.91 USD
    • -0.80
    • -0.88%
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