On 25th February, in Kishinev, MAIB and American Express celebrated the launch of MAIB merchant acquiring onto the American Express network in Moldova. The launch follows the signing of a partnership agreement between the two companies last year through which MAIB became the exclusive American Express merchant acquirer in the country. Under the terms of the agreement, MAIB is also licenced to issue American Express-branded Cards, with issuing expected to commence later this year.
The launch ceremony was attended by representatives from MAIB, American Express, major merchants, financial services companies and journalists. As was announced during the press conference MAIB has already signed a number of key local merchants onto the American Express network in Moldova. Under the terms of the agreement between MAIB and American Express, MAIB will be responsible for managing all aspects of the merchant relationships.
MAIB has indicated that merchant acquisition will initially focus on the T&E segment, such as hotels, restaurants, travel agencies, transport and duty free shops, to cater to the needs of inbound American Express Cardmembers. Aquisition is then set to broaden to other categories.
Serghei Cebotari, Chairman of the Management Board, Moldova Agroindbank said, "Thanks to our new partnership with American Express, merchants in Moldova will now be able to benefit from key advantages associated with American Express acceptance, including access to American Express Cardmembers who are typically extremely loyal. It is a significant event for the whole country that American Express, a worldwide leader in payments has decided to start operations in Moldova and it demonstrates a growing confidence in the health of our local economy. I am very glad that Moldova Agroindbank, due to its reputation and professionalism, has enlisted the full support of such a prestigious partner".
"Our partnership with MAIB is a key milestone in the development of our business in Moldova and it is a country with an innovative financial sector and excellent development prospects. We are delighted to work with MAIB, which is a leader in financial innovation in Moldova and we look forward to offering new services to merchants and consumers in the country, as well as expanding the scope and reach of the American Express brand in this region" said American Express representative Colin O'Flaherty, Vice President and General Manager of American Express Partner Card Services, Russia, CIS and Central Eastern Europe.
ENDS
About Moldova Agroindbank:Moldova Agroindbank is a universal bank holding an authorization of the National Bank of Moldova to perform all types of transactions in national and foreign currency on the territory of the Republic of Moldova and on international markets. The unique business pattern aimed at providing specialized and efficient services in the Commercial and Retail segments, together with advanced information technologies and modern telecommunication systems, competitive, client-oriented products and services, well-trained personnel and highly-developed distribution network have made Moldova Agroindbank the first option bank for local clients and contributed to the bank's name becoming widely recognized
About American Express: American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Since 1997, American Express has partnered with a select group of leading banks and financial institutions around the world to issue American Express-branded products and acquire merchants on to the American Express merchant network. By leveraging its partnerships, global infrastructure and the powerful appeal of its brand, American Express has gained even broader reach for its network worldwide.