UBS has sold its 50% stake in Swisscard to American Express, making American Express the sole owner of Swisscard.
As part of the transition, Credit Suisse customers will be moved to UBS's credit card platform, with no immediate impact on cardholders, merchants, or partners.
UBS stated that Swisscard operations did not align with its strategic priorities as the legal successor to Credit Suisse. Clients with Credit Suisse-branded credit cards will be informed about new card issuance in the first half of 2025.