OREANDA-NEWS. Russian Standard Bank has been the exclusive issuer of American Express Cards in Russia since 2005, and the exclusive legal acquirer of American Express merchants since June 1, 2007, reported the press-centre of Russian Standard Bank.

Our strategy is to support the demand for American Express Cards in Russia and to enhance and grow client and merchant services nationwide. Russian Standard Bank is dedicated to building long-term merchant relationships that are beneficial to the bank, to merchants and to consumers. Russian Standard Bank is interested in working in the credit card and merchant acquiring businesses with any professional banking institutions in Russia. Many major Russian banks already cooperate with Russian Standard Bank to process American Express Card transactions.

United Card Service (UCS), a significant acquirer operator in Russia, requested special conditions which Russian Standard Bank was not able to accept. Russian Standard Bank has extensive experience in managing merchant relationships in Russia. The bank’s current network - the largest in Russia - encompasses more than 50,000 merchants that handle point of sale processing. With 40,000 employees and hundreds of millions of dollars invested in new technology, Russian Standard Bank will use its extensive merchant network to support and develop the American Express business in Russia.

As the largest credit card issuer in Russia, as well as the exclusive issuer of American Express Cards in Russia, Russian Standard Bank views the merchant acquiring business as an integral part of its core credit cards business. The bank is committed to developing this business in a way that will benefit all Russian consumers. Since June 1, Russian Standard Bank has been working aggressively to replace UCS terminals. Although American Express Cardholders may experience a disruption in service at some merchants who had used UCS terminals to process American Express transactions, Russian Standard Bank is committed to minimizing any inconvenience. American Express Cardmembers can continue to use their cards at thousands of businesses across Russia. Major retailers, hotels and restaurants continue to welcome American Express Cards.