Partners Sign Agreement to Transfer the American Express Merchant Acquiring Business in Russia to Russian Standard Bank
Moscow and London – 10 April 2007 – Russian Standard Bank (RSB) and American Express today announced that they have signed a long term agreement for RSB to become the legal acquirer of American Express merchants in Russia. Under the agreement to transfer the American Express merchant business in Russia, RSB will be responsible for signing new merchants in Russia to accept the American Express Card, managing relationships with existing American Express merchants in the market and processing transactions on the American Express network in Russia. The full transfer of the business will be completed by 1st June 2007. Specific terms of the agreement were not disclosed.
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