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American Express has acquired UBS's 50% stake in Swisscard, making it the sole owner, while UBS will continue to focus on its credit card business. Credit card holders will see no immediate changes, as UBS plans to offer its own credit card services to former Credit Suisse clients. Swisscard, which employs over 650 people, offers a variety of credit cards and has over 400,000 users of its app.
UBS has sold its 50% stake in Swisscard to American Express, which now becomes the sole owner of the credit card specialist. This decision aligns with UBS's strategic priorities, as Swisscard will continue to issue cards under American Express, Mastercard, and Visa licenses, while Credit Suisse customers will transition to UBS's credit card platform.
American Express has acquired UBS's 50% stake in Swisscard, making it the sole owner. Cardholders will see no changes, as Swisscard will continue to issue cards under American Express, Mastercard, and Visa. UBS remains committed to its credit card business, planning to offer its own range of credit cards to former Credit Suisse clients.
UBS is fully exiting its stake in Swisscard, selling its 50% share to American Express, which will now be the sole owner. Credit card holders will see no immediate changes, as Swisscard continues to operate under existing licenses. UBS remains committed to its credit card business, planning to offer its own range of cards to former Credit Suisse clients.
UBS is selling its 50 percent stake in Swisscard to American Express as part of its ongoing business streamlining following the integration of Credit Suisse. Customers will experience no immediate changes, with card usage continuing as usual until new cards are issued in 2025. After the sale, American Express will become the sole owner of Swisscard, which will still manage other card portfolios under its licenses.
UBS is divesting its 50% stake in Swisscard, a credit card issuer, to American Express, which will now fully own the joint venture. This transition will not affect Credit Suisse credit card customers, as UBS plans to continue offering its own credit card services. Swisscard will maintain its operations under the licenses of American Express, Mastercard, and Visa.
Ubs has sold its 50 percent stake in Swisscard to American Express, making the latter the sole owner of the credit card company. This divestment aligns with Ubs' strategic priorities, as it transitions Credit Suisse customers to its own credit card platform, with new cards expected to be issued in 2025.
American Express is set to acquire UBS's 50% stake in Swisscard, following UBS's strategic shift after its acquisition of Credit Suisse. The financial terms of the deal remain undisclosed, but Swisscard assures that cardholders and partners will not be immediately affected. UBS continues to streamline its operations, having made several divestments recently.
American Express has acquired UBS's 50% stake in Swisscard, making it the sole owner of the credit card provider. This transition will not affect existing cardholders immediately, as Swisscard will continue to issue cards under American Express, Mastercard, and Visa licenses. Credit Suisse cardholders will be migrated to UBS's platform by mid-2025, with a seamless transition promised.
UBS is selling its 50 percent stake in Swisscard to American Express, making Amex the sole owner of the Horgen-based card issuer. This change follows UBS's acquisition of Credit Suisse, which led to the non-renewal of the existing agreement between Credit Suisse and American Express. Credit card holders will see no changes, as UBS will retain its credit card business while Swisscard continues to issue cards under American Express, Mastercard, and Visa licenses.
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American Express acquires full ownership of Swisscard from UBS
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15:02 21.10.2024
ubs sells credit suisse stake in swisscard to american express
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14:45 21.10.2024
American Express acquires full ownership of Swisscard from UBS
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11:40 21.10.2024
American Express fully acquires Swisscard from UBS in strategic move
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11:20 21.10.2024
ubs sells stake in swisscard to american express amid business streamlining
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11:13 21.10.2024
ubs sells stake in swisscard to american express
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11:13 21.10.2024
ubs sells stake in swisscard to american express completing credit suisse divestment
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11:01 21.10.2024
American Express acquires full ownership of Swisscard from UBS
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10:10 21.10.2024
American Express acquires full ownership of Swisscard from UBS
09:52 21.10.2024
ubs sells stake in swisscard to american express becoming sole owner
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08:46 21.10.2024
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