UBS has sold its 50 percent stake in Swisscard to American Express, making American Express the sole owner of the credit card specialist. This decision was made after UBS acquired the stake from Credit Suisse, which was rescued in June 2023.

The move is in line with UBS's strategic priorities, as the issuance of credit cards through Swisscard no longer fits its operational configuration. As a result, Swisscard will continue to issue credit cards under the American Express, Mastercard, and Visa brands while managing the Swiss business for its parent company.

Customers previously associated with Credit Suisse will transition to UBS's credit card platform, ensuring a smooth transition in services.