-
American Express will certainly suffer when its 16-year cobranding deal with Costco ends in 2016, but its executives will spend the next year building up the card brand's digital payment products to create enough opportunities to ease the company's short-term pain and guarantee its long-term health.
February 12 -
A court-imposed deadline for American Express to negotiate a fix to its merchant rules with the Department of Justice is about three weeks away. Odds of a deal are said to be low, heightening uncertainty and fueling debate about how the showdown will affect the future of the credit card business.
February 26 -
If you thought American Express' loss Thursday of a big antitrust case would help its rivals, think again. Visa, MasterCard, and even card-issuing banks could be hurt by the race to lower merchant fees that the ruling will set off.
February 19
Costco has picked Visa as its new payment card network and Citigroup as the new issuer of its cobranded credit cards.
The membership warehouse retailer announced last month that it would move on from its cobranding deal with American Express, which has been the company's card partner for 16 years.
Costcos deal with Visa, announced Monday, hinges on Citigroup purchasing the existing co-brand portfolio. The banking giant will become the exclusive card issuer of Costco's cobranded cards while Visa will take over the network role previously enjoyed by American Express on April 1, 2016.
In a
