American Express has acquired UBS's 50% stake in Swisscard, making it the sole owner of the credit card provider.

This move follows an agreement between Swisscard and UBS to transfer Credit Suisse's card portfolios to UBS, while Swisscard will continue to issue cards under the American Express, Mastercard, and Visa licenses.

Swisscard has assured that there will be no immediate impact on cardholders, merchants, or partners during the transition. Customers can continue to use their cards without interruption, and merchants can accept Swisscard-issued cards as usual.

American Express is committed to expanding its operations in Switzerland through Swisscard, with a focus on future growth in the region.