UBS has sold its 50 percent stake in Swisscard to American Express Swiss Holdings GmbH, making American Express the sole owner of the credit card issuer.
Despite the ownership change, Swisscard has assured cardholders that there will be no immediate changes to their credit card services. Swisscard will continue to issue card portfolios under the licenses of major payment networks.
The acquisition of Swisscard by American Express is expected to bring about transformation and innovation in the credit card industry. American Express's resources and expertise could help Swisscard compete more effectively and improve its service offerings.