American Express has signed a partnership with Bangkok Bank to rapidly expand acceptance of its cards in Thailand as American Express accelerates its growth in the country. For Bangkok Bank, this agreement strengthens its merchant services offerings as a one-stop payment service provider.
Under the partnership, Bangkok Bank will sign up merchants to accept American Express cards in Thailand and provide American Express Card Members and merchants with access to Bangkok Bank’s vast contactless Electronic Data Capture (EDC) and Point-of-Sale (POS) terminal network. Even more Thai local businesses will also be able to access American Express global network and over 114 million Card Members worldwide, including American Express Card Members in Thailand who on average spend 2.5 times more than card members of other credit card companies.
“Thailand is an important part of American Express’ global strategy and this long-term partnership with Bangkok Bank supports our plan to accelerate our market share in the premium and affluent segments,” said Mr Marlin Brown, Vice President and Country Manager, American Express in Thailand. “As we expand our presence, our Card Members can use their cards at significantly more locations and drive more premium business to local merchants. In addition, we fully expect our Card Members globally to return to Thailand – a top tourist destination – once the pandemic is over, driving even more spending to local merchants.”