American Express, Sovereign Bank To Issue Business Cards
OPEN from American Express and Sovereign Bank have announced that Sovereign will offer American Express Business Cards to its small business customers throughout the Northeast. The agreement calls for the companies to jointly market small business charge and credit cards that carry the Sovereign Bank and American Express brands.
"This strategic partnership represents an important growth opportunity for both OPEN and Sovereign and opens the door for us to serve more small business customers in unique and innovative ways," said Susan Sobbott, president, OPEN from American Express. "Small business owners tell us they want products and services that can help them grow their companies. With a combination of savings, rewards and other benefits, the new cards can deliver a distinct competitive advantage to small business customers.""The value of this partnership goes well beyond the combined strengths of our brands," said Jay S. Sidhu, chairman and chief executive officer, Sovereign Bank. "Together we are developing services and offers that provide greater banking convenience and additional rewards for businesses that bank with Sovereign. We couldn't have found a better partner for this than the OPEN Team at American Express."
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