"GOLOMT" BANK INTRODUCES "AMERICAN EXPRESS" CARDS HERE

Ulaanbaatar /MONTSAME/ Mongolian bank customers can now own the world-wide used American Express cards.

One of the leading banks of Mongolia, Golomt Bank and American Express Company, an American multinational financial services corporation headquartered in New York City signed Tuesday a cooperation agreement on issuing the American Express credit cards in Mongolia.

The American Express Company, best known for its credit card, charge card and traveler's cheque businesses, started the cooperation with Golomt in 2006, choosing it as the only Mongolian bank to have an official partnership with. The cooperation was established as a part of American Express Company's pursuit to reach worldwide by arranging affiliations with other international express companies and commercial financial institutions.

The main reason to choose Golomt Bank as the partner in the credit card business was the Bank's leading position in online services, offering the opportunity to open and manage their bank accounts online, for Mongolian citizens residing abroad. Golomt Bank pioneered the launch of charge and credit card banking in Mongolia almost a decade ago.

American Express is best known for its iconic Green, Gold, and Platinum charge cards, and offers credit cards of similar color levels in most countries.

The company also offers a comprehensive range of cards designed to support mid-sized and large companies manage their travel and day-to-day operational expenses. The core product, the American Express Corporate Card is offered in over 40 countries, and a number of complementary products for specific types of spending are offered for special needs.

Examples of these products include the Corporate Meeting Card, the Corporate Purchasing Card, and the Business Travel Account. Commercial Cards differ from Business Cards as they enable company liability (business cards are issued as extensions of credit to the company's owner). In addition, Commercial Cards offer a comprehensive suite of data and reporting solutions that help clients gain visibility and control over employee expenditures.

SOURCE OF THIS ARTICLE : Montsame.mn