AmEx pulling Out Of Retail Market
- 13 Jul 2017 8:56 AM
American Express is leaving the Hungarian retail market, Index reports, after OTP bank announced that it is recalling its American Express cards, which will be valid only until January 31, 2018.
Only OTP issues AmEx cards for households in Hungary, Index points out.
No new American Express cards will be issued for private clients after July 17.
American Express maintains company cards in Hungary, managed directly by itself.
OTP is offering to replace clients’ American Express cards with MasterCard Bónusz cards.
Source: Hungary Around the Clock
This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.
LATEST NEWS IN business