UBS has sold its 50% stake in Swisscard to American Express, as part of its ongoing divestment of the Credit Suisse business it acquired last year.

American Express will now be the sole owner of Swisscard, and Credit Suisse customers will transition to UBS's credit card platform.

Swisscard will continue to operate and issue cards under American Express, Mastercard, and Visa licenses, maintaining the American Express business in Switzerland.

There will be no immediate impact on cardholders, merchants, or partners, and customers with Credit Suisse credit cards will be informed about new card issuance in the first half of 2025.

UBS stated that Swisscard operations did not align with its strategic priorities as the legal successor to Credit Suisse, emphasizing its commitment to its credit card business.