American Express has acquired full ownership of Swisscard by purchasing the 50 percent stake previously held by UBS.

Swisscard, which was established in 1998, is the only credit card provider in Switzerland that offers major credit card brands such as American Express, Mastercard, and Visa from a single platform.

Despite the acquisition, Swisscard will continue to operate its American Express acquiring business in Switzerland without any immediate impact on cardholders, merchants, or partners.

American Express has expressed its commitment to expanding its presence in Switzerland through Swisscard, while UBS aims to integrate cardholders into its offerings and enhance the range of credit card services available to them.