Atlantica - 01.07.2004, Page 84

ATLANTICA BUSINESS SECTION
AMERICAN EXPRESS AND KREDITKORT HF.
ANNOUNCE MERCHANT ACQUIRER AND SERVICING AGREEMENT
Kreditkort hf. and American
Express announced on June
4th an exclusive agreement
which will result in Kreditkort
hf. becoming the sole mer-
chant acquirer and servicer for
American Express in Iceland.
The agreement was
announced at a press confer-
ence at the National Gallery of
Iceland by the Card Company’s
Chief Executive Officer, Ragnar Onundarson, and Mr. Pascal Guignard,
Vice President, American Express Global Network Services.
As of June 4th, Kreditkort hf. will start the first phase of managing all
aspects of American Express merchant relationships in Iceland including
the acquiring of American Express merchants and servicing existing mer-
chants.
“Our agreement with Kreditkort hf. marks a very significant step in
developing our Merchant Network in markets around the world,” said
Pascal Guignard, Vice President, American Express Global Network
Services. “We are delighted to have forged this relationship with
Kreditkort hf. as both companies share similar objectives of delivering
superior customer service and innovation. Through this agreement we
have a strong local partner who will be able to meet the needs of a grow-
ing merchant base.”
Ragnar Onundarson, chief executive officer, Kreditkort hf. said: “Our
Agreement with American Express is in line with our policy of increased
focus on merchant acquiring and strengthening our international ties.
The steadily rising number of tourists visiting Iceland requires that all
major cards are accepted at merchants throughout the country. Through
this agreement, Kreditkort hf. wishes to meet this demand and enhance
payment services in Iceland.”
As a result of this agreement, Icelandic merchants will start to benefit
from custom from American Express’ loyal Cardmembers*. Furthermore,
merchants will receive full local market servicing and support through the
availability of a local phone number, 24-hour electronic card authorisa-
tions locally from Kreditkort hf., one integrated statement in Icelandic
Kronas, for merchants itemizing all of their credit card sales acquired by
Kreditkort hf. which facilitates the reconciliation of transactions, quick
merchant set-ups and the creation of new marketing opportunities.
Processing of card transactions to become even easier
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