O3 Capital, a leading Nigerian fintech and the country’s first non-bank credit card issuer has announced a partnership with American Express to issue business credit cards in Nigeria, potentially improving access to dollars in the country.
O3 Capital said the firm has partnered to issue four new American Express credit cards: the O3 American Express Green Card for consumers, the O3 American Express Gold Card for consumers, and the O3 American Express Platinum® Card for consumers; and the O3 American Express Gold Business Card for small- and medium-sized enterprises (SMEs), according to finextra.
This was disclosed by O3 Capital to press men during the unveiling of the product on Thursday at their Churchgate office, in Victoria Island, Lagos.
O3 Capital will further strengthen its customer offering by providing members of the American Express Card with a wide range of travel and lifestyle benefits for use in Nigeria as well as traveling abroad, when using an O3 American Express Green, Gold, or Platinum card.
These Cards will provide access to discounts at certain businesses across Nigeria, such as cinema, hotel, and car rental benefits, and various insurances and protections.
In addition, the O3 American Express Platinum card will also provide you with access to a travel and lifestyle concierge service, and membership in an airline’s global hotel programme for five free visits per year at eligible local and international airport lounges.
Cards will be able to be used at American Express accepting merchants across Nigeria and around the world.
The first American Express card to be introduced into Nigeria will be the O3 Gold Business Card, specially designed for supporting business expenditure. With access to a credit facility, the ability to perform international transactions, and the inclusion of an extended repayment period of up to 45 days, this card will improve the day-to-day management of business transactions and cash flow.
In addition, it will boost the running of a business using benefits such as three complimentary visits per year to eligible local or international airport lounges, car rental concessions, and travel insurance.
The Chief Executive Officer of O3 Capital, Abimbola Pinheiro said “This agreement with American Express is a significant milestone, both for O3 Capital and for Nigerian businesses.
“We will provide solutions for a wide range of customers – from consumers looking for more value from their payment products to businesses who want to enjoy the benefits of a domestically issued card with the international reach of American Express. We are particularly proud to be the first who will issue an American Express Business card to the Nigerian business community and we look forward to working with American Express to fulfill our potential.”
Meanwhile, in his remark, The President of Global Network Services at American Express, Mohammed Badisaid “With the O3 Capital American Express cards, consumers and businesses in Nigeria will have even more payment choices. American Express is excited to continue to strengthen its presence in Nigeria and expand its reach across Africa.
“The first-ever American Express Business Card in the most populous African country will give us another way to support local businesses with their growth aspirations.”
