American Express expands merchant network in Saudi Arabia

This comes as a result of the company's strategic focus on increasing acceptance of American Express Cards across all commercial sectors in the Kingdom, while also offering greater value added benefits to its Cardmember base.

Fahd Al-Guthami, Head of Commercial Operations for Amex (Saudi Arabia) Limited explained that driven by the steady growth in its merchant network, the company is identifying partnership opportunities with well recognised merchants to further fuel its presence in the retail sector.

"Merchants across the country recognise the tangible, high value and long term benefits that American Express can bring them through our premium Cardmembers," said Al-Guthami. "The promising growth of our merchant network is also a reflection of our commitment to offer Cardmembers a wide choice of local outlets for shopping, dining, car rental, health clubs and others that support their lifestyle."

The company's latest signing is with United Electronics Company (Extra), a leading electronics retailer, for acceptance of American Express Cards across all Extra branches in the Kingdom.

Commenting on the latest signing with Extra, Al-Guthami said, "As a leading electronics retailer in the region, Extra offers high quality products that appeal to American Express Cardmembers who expect the very best in life. Our association with Extra reaffirms our growing presence among the Saudi retail sector."

Mohamed Jalal, Executive President of Extra, said,

"We are confident that our partnership with American Express will be instrumental in enhancing our appeal in Saudi Arabia which represents 65 per cent of the overall Middle East electronics market. It will enable Extra to attract American Express Cardmembers who form a premium clientele in the Kingdom, with high demand for latest technological innovations and electronics to enhance their lifestyles."

Amex (Saudi Arabia) Limited supports its merchants with convenient processing services and ongoing initiatives and policies that help protect them against fraud and charge backs.