Poinz has been recognized as the best credit card with a bonus system, surpassing major competitors. UBS's Mastercard Platinum topped the annual fee category, while Poinz excelled in no annual fee and loyalty programs. Cornèrcard Gold was voted best for international use, and Aargauische Kantonalbank led in prepaid cards.
UBS has sold its 50% stake in the Swiss credit card joint venture Swisscard to American Express, making Amex the sole owner. This decision follows the emergency merger of Credit Suisse with UBS, as the existing agreement was not extended. UBS stated that the credit card operations did not align with its strategic priorities, although the credit card business remains important to the bank.
UBS has divested its 50% stake in Swisscard, selling it to American Express. This move marks a significant shift in UBS's investment strategy, further solidifying American Express's position in the financial services market.
American Express will acquire UBS's 50% stake in Swisscard, making it the sole owner. The transaction's timing is yet to be announced, but Swisscard will continue issuing cards under American Express, Mastercard, and Visa licenses, with no immediate impact on cardholders or partners. UBS will transition Credit Suisse-branded cardholders to new cards starting in the first half of 2025.
American Express will acquire UBS's 50% stake in Swisscard, making it the sole owner. The transaction's timing is yet to be announced, but Swisscard will continue issuing cards under American Express, Mastercard, and Visa licenses, with no immediate impact on cardholders. UBS will transition Credit Suisse-branded cardholders to new cards starting in the first half of 2025.
American Express is set to acquire UBS's 50% stake in Swisscard, making AmEx the sole owner of the credit card provider. Additionally, Swisscard and UBS have agreed to transfer the Credit Suisse brand to Swisscard, with no impact on the existing portfolio.
UBS has divested its 50% stake in Swisscard, selling it to American Express. This strategic move marks a significant shift in UBS's investment portfolio as it continues to refine its business operations. The transaction was announced on October 21, 2024.
Swisscard will be fully acquired by American Express as UBS exits the credit card business following the takeover of Credit Suisse. Credit card holders will see no changes, with portfolios under the Credit Suisse brand transferring to UBS, while Swisscard continues to issue cards under American Express, Mastercard, and Visa licenses. UBS remains committed to its credit card operations, although the integration with Swisscard is not aligned with its strategic priorities.
UBS is selling its 50% stake in Swisscard to American Express as part of its divestment from the Credit Suisse business acquired last year. The financial terms of the transaction have not been disclosed.
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