Amex and BMW take credit for industry first
American Express and BMW have launched what they claim is the region's first co-branded credit card in the automobile sector.
The American Express chip-enabled credit card debuted in the UAE late last month followed closely by Bahrain. The launches are the first step towards a pan-regional roll out.
Membership eligibility is on a par with the Amex UAE gold card salary criteria of $2,174 (AED8000) a month and is accepted in more than 200 countries worldwide offering vehicle ownership, lifestyle and travel benefits.
A direct marketing campaign will initially support the launch along with PoS in BMW dealerships Premal Patel, marketing director, marketing director MENA American Express (Middle East) told GMR.
A print campaign in Arabic and English follows later this year including lifestyle, business and automotive magazines.
Mr. Trevor Stokes, president and CEO of American Express MEAN added: "We are confident that with our strong brand synergy and the comprehensive product features, the new BMW credit card will really make an impact in the cluttered payments industry."
Both companies have similar co-branded cards in Australia, Thailand, New Zealand, Germany, and the UK.
BMW Group was the first premium vehicle maker to establish its own financial services division in the Middle East in 2001, through financial services co-operation partners, and the BMW credit card represents yet another first in the region in the premium automotive segment.
© Gulf Marketing Review 2006
