American Express has acquired full ownership of Swisscard from UBS, making it the sole owner of the credit card issuer.

This move comes after American Express reported mixed results for the third quarter, with revenues slightly below analyst expectations.

Transaction Details

The financial terms of the transaction have not been disclosed, but Swisscard has confirmed the deal.

UBS's Strategy

UBS's decision to divest its stake in Swisscard aligns with its strategy to refocus its business model.

The bank plans to migrate Credit Suisse customers to its existing credit card platform.

Impact on Stakeholders

Swisscard has reassured stakeholders that the change in ownership will not immediately impact cardholders, merchants, or partners.

It will continue to issue cards under the American Express, Mastercard, and Visa licenses in Switzerland.

Consolidation and Service Enhancement

This acquisition allows American Express to consolidate its operations and enhance its service offerings in Switzerland.

Market Reactions

The market reactions to this transaction have been mixed, with American Express shares closing lower and UBS shares seeing a slight increase.

Implications for the Credit Card Market

The implications of this transaction extend beyond financial metrics and may reshape consumer preferences in the credit card market in Switzerland.