American Express 2006 Annual Report Download - page 8

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Westpac’s Altitude American Express cards
are some of the Australian banking giant’s
most popular offerings. Voted “Best Bank
Rewards” program in Australia by Money
magazine, the Altitude products target high-
spending frequent fl iers.
the network for
high-spending customers
In the world of payments, most players
are either card issuers or networks.
American Express is a global leader in
both categories. Our network processed
more than $560 billion in transactions
last year. That purchase volume came
not only from the cards we issue but
from an additional source
—
American
Express-branded cards issued by a select
group of fi nancial institutions. A relation -
ship with American Express enables
these bank partners to offer more choices
and more rewards for their best customers
and prospects. In turn, we have another
profi table channel for expanding our
brand presence worldwide.
Mike Pratt, Group Executive, Business and
Consumer Banking, Westpac
“American Express has tremendous
experience reaching affl uent customers.
Partnering with them helps
give our customers greater
choice and more rewards.
It’s been a very successful relationship.”
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