Moldova Agroindbank and American Express announce card issuing and merchant acquiring partnership in Moldova

Moldova Agroindbank and American Express announce card issuing and merchant acquiring partnership in Moldova

• 09.10.2014

Moldova Agroindbank (MAIB) and American Express today announced the signing of a new partnership agreement empowering MAIB to act as the issuer of American Express Card products and the sole merchant acquirer in Moldova.

Under the terms of the agreement, MAIB will also be the exclusive acquirer of merchants onto the American Express network in Moldova. Merchant acquisition will begin in first quarter of 2015, with product details being announced at a later point. This new issuing agreement will increase the choice available to MAIB customers and will lead to a wider range of products being offered to Moldovian consumers.

“We are deeply pleased to announce the agreement with American Express, a worldwide leader in payments, which will help MAIB further enhance our relationships with our customers. This new partnership is a key step in the growth strategy of MAIB, which includes providing our customers and partners with innovative financial services, which is imperative in this fast-changing world” said Serghei Cebotari, the Chairman of the Management Board, Moldova Agroindbank.

“Our partnership with MAIB is a key milestone in the development of our business in Moldova, which we regard as having an innovative financial sector and excellent growth opportunities. We are delighted to work with MAIB, which is a leader in financial innovation in Moldova, and we look forward to offering new products and services to merchants and consumers in the country, as well as expanding the scope and reach of the American Express brand in this region” Colin O’Flaherty, Vice President and General Manager of American Express Partner Card Services, Russia, CIS and Central Eastern Europe said.

NOTES:
About Moldova Agroindbank: With an experience of over 23 years, Moldova Agroindbank has been strengthening its position on the banking market of Moldova, year by year confirming through its performances its leadership in the country’s banking sector. 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.

MAIB

With its 24-year-long experience, Moldova Agroindbank strongly keeps its leading position on Moldova’s banking market. Moldova Agroindbank is an innovative bank providing hi-tech financial services to all customer segments, individuals and legal entities, operating in most sectors of the national economy. The institution provides the widest range of banking services and products in Moldova.