In a historic move in the Nigerian banking industry, Access Bank will issue the first American Express credit cards in Nigeria and the West African sub-region.
The bank launched two new consumer credit cards, the Access Bank American Express Gold Card and the Metal Platinum Card, on Thursday, June 8, in Lagos.
The launch marks a milestone in Nigeria’s growing payments industry, providing customers with value and convenience in electronic payments.
The partnership between the bank and its American partners has been in the works since 2019, before the recent launch.
The Managing Director of Access Bank, Roosevelt Ogbonna, said:
“The launch of American Express Cards in Nigeria is another milestone in the continued development of a vibrant and fast-growing payments industry. Customers want more than transactions – they want real value.”
Herbert Wigwe, Group Managing Director, Access Holdings, said the cards would be available by request and invitation from Tuesday, June 13, 2023.
In addition to dual-currency support, international acceptance, and hotel upgrades, American Express Cards offer airport lounge access and car rental benefits.
The cards also grant users exclusive access to loyalty points, insurance and rewards.
They also benefit SMEs and retail businesses, who can now connect to their customers across the globe and provide a soft landing for travellers.
Experts say the move could single-handedly affect many startups offering dollar cards.
There have also been concerns about how accessible the cards will be and if the government can sustain the current arrangement.
