BMW Group and American Express yesterday launched a co-branded credit card, as the two companies try to add a fresh chapter to the already cluttered credit card industry in the country.
Robert Chamberlain, the general manager of global banking at BMW, said: "American Express is a natural partner for BMW Financial Services, the financial services division of the BMW Group, due to their superior global financial expertise, flexibility and their ability to tailormake a credit card specifically for our customers' needs.
"American Express, like BMW, maintains a clear premium positioned international brand image." Trevor Stokes, the President and CEO of American Express, Middle East & North Africa, said teaming up with the carmaker will add impetus to the company's offering.
"BMW is one of American Express' global strategic cooperation partners, having launched successful initiatives in other markets worldwide.
"We are proud to partner with a premium brand such as BMW in the Middle East for a unique product designed to meet the growing sophistication of the region's discerning consumers." He added: "We are confident that with our strong brand synergy and comprehensive product features, the new BMW credit card will really make an impact in the cluttered payments industry." BMW Group and American Express have similar cobranded cards in Australia, Thailand, New Zealand, Germany, and the United Kingdom. The launch of the BMW credit card in the UAE is the first step towards a major rollout into other Middle East markets.
BMW Group was the first premium carmaker to establish its own financial services division in the Middle East in 2001, through financial services cooperation partners.
By Emirates Today Staff
© Emirates Today 2006
