RCB Bank makes deal to process Amex card payments in Cyprus

RCB Bank and American Express have launched two partnership agreements that will enable the bank to provide merchant recruitment and payment processing plus servicing in Cyprus on behalf of Amex.

“We are pleased to work with American Express to offer their merchants a best-in-class service proposition,” said Harry Xenophontos, head of Acquiring & Digital Payment Services at RCB Bank.

“This development is yet more proof of RCB Bank’s continuous expansion of its card acceptance and overall position in digital payments,” he added.

Jean Diacono, General Manager Global Merchant Services, American Express said: “We are committed to growing our coverage and ensuring American Express cardmembers travelling abroad can continue to use their card with confidence in Cyprus”.

Amex is the only issuer of Amex cards from their proprietary business within 10-plus countries in the EU.

These agreements means that merchant businesses in Cyprus with RCB POS Terminals can accept American Express card payments.

“There is still a large number of international visitors in Cyprus that wish to pay with their Amex card. Therefore, merchant businesses in Cyprus, especially in hospitality and retail, still consider it a necessity to have it as an option on their POS Terminals,” said an RCB official.

All RCB terminals are capable of accepting Amex cards as long as the merchants wish so.

“The demand from merchants was beyond our expectation from day one. We are committed not only in honouring our partnership with American Express but to also exceed our goals by the end of the year,” the official said.

RCB views the collaboration with American Express as of strategic importance for its growth in Cyprus and the EU.

“We are very proud to be one of the very few banks to have made such an achievement and we are pleased that the market recognises this development.”