GE Money to Purchase Chevron’s Proprietary Consumer Credit Card Business

Commenting on the agreement, Margaret Keane, CEO & President of GE Money - Retail Consumer Finance, said, “Chevron is a great partner for Retail Consumer Finance, and we are excited to be working with the company. Our strong partnership approach, advanced risk models, and marketing and payments innovation, make GE Money the perfect complement to the Chevron and Texaco brands. We are proud of our capabilities and know that we can help Chevron expand its already successful consumer credit card offerings.”

Mike Abbott, vice president, Marketing for GE Money – Retail Consumer Finance, said, “Over the years, Chevron has done a terrific job marketing and supporting its private label consumer credit card program. Now with GE Money, Chevron will have access to the platform and products to expand its product offerings and continue to grow its card programs.”

“The credit card business environment is changing rapidly,” said Danny Roden, vice president of Chevron North America Marketing. “Consumers’ usage patterns are changing and they are looking for new payment products and features. Our goal is to provide payment products which attract and retain consumers, marketers and retailers.”

“We have a strong base of loyal customers with our proprietary credit card business and are making this change to ensure they continue to have access to the latest features and options available within the credit card market,” said Shariq Yosufzai, president of Chevron Global Marketing. “We believe GE Money can enhance the payment products we offer our customers.”