American Express and InterBanco form Paraguay card alliance
30th October 2006
American Express and InterBanco have signed an agreement under which the bank will become the first to issue American Express-branded cards in Paraguay.
As a new partner, InterBanco, the leading privately-owned bank in Paraguay, will be responsible for all operations supporting the InterBanco-American Express cards, including billing and payment systems, customer servicing, credit management, and marketing.
The agreement enables American Express to dramatically increase the number of establishments accepting the American Express card in Paraguay.
InterBanco will issue a variety of American Express credit and charge cards. The cards will be denominated in the local currency, guarani, and will provide a range of advantages and benefits, including travel assistance services at over 2,200 American Express Travel Agencies, access to more than 550,000 ATMs worldwide, purchase protection insurance, automatic travel insurance and rental car insurance.
Members will also be able to enroll in the membership rewards program, earn points through their purchases, and redeem them for a wide range of benefits.