American Express is acquiring UBS's 50% stake in Swisscard, a credit card provider, which will make AmEx the sole owner of the company.

This move will allow AmEx to consolidate its operations in Switzerland.

Consolidation of Operations

Swisscard and UBS have also agreed to transfer Credit Suisse-branded credit card portfolios to UBS.

Despite these changes, Swisscard has assured that there will be no immediate impact on cardholders, merchants, or partners.

Continued Services

Swisscard will continue to issue credit cards under the American Express, Mastercard, and Visa licenses.

For customers holding Credit Suisse-branded cards, Swisscard will provide transparent communication regarding the transition to new cards, which is expected to begin in the first half of 2025.

Transition of Credit Suisse-branded Cards

The acquisition of UBS's stake in Swisscard is a strategic move for American Express, allowing them to enhance their brand presence in the Swiss market.

The implications of this acquisition and the transition of Credit Suisse-branded cards will be closely monitored by industry analysts and stakeholders.