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AMEX, O3 Capital launch first business credit card in Nigeria

Access Bank unveils pioneering American Express card in Nigeria

03 Capital , a Nigerian fintech and non-bank credit card issuer, has announced an agreement with American Express to issue four new credit cards.

The cards launched are the 03 American Express Green Card for consumers, the 03 American Express Gold Card for consumers, and the 03 American Express Platinum Card for consumers,and the 03 American Express Gold Business Card for small- and medium-sized enterprises (SMEs).

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With the 03 American Express Green, Gold, and Platinum Cards, 03 Capital will enhance its overall customer offering, providing American Express Card members a range of travel and lifestyle benefits for use in Nigeria and when travelling overseas.

These Cards will provide access to discounts at select businesses across Nigeria, cinema and dining perks, hotel and car rental benefits, and various insurances and protections.

Additionally, the 03 American Express Platinum® Card will provide access to a travel and lifestyle concierge service, a membership with a global hotel programme, and five complimentary visits per year to 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 03 American Express® Gold Business Card will be the first American Express card launched in Nigeria to specifically support the spending needs of businesses.

This card will improve the day-to-day management of business transactions and cashflow 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.

It will also aim to support the running of a business, with benefits such as three complimentary visits per year to eligible local and international airport lounges, car rental perks, and travel insurance included.

Abimbola Pinheiro, Chief Executive Officer of O3 Capital, said these cards will provide solutions for a wide range of consumer across Nigeria.

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“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 fulfil our potential.”

Mohammed Badi comments on O3 AMEX Cards and the partnership said the launch of our first ever small business products in the country of Nigeria and three additional consumer cards here in the country.

“As a company, we believe that small businesses are the lifeblood of any economy. And so that’s why we’re excited to launch our first small business product here in Nigeria with the launch of three small business cards. We see ourselves supporting this segment of businesses with payment products that will help fuel the growth of the Nigerian economy,”Badi said.

He said the whole concept of network vibrancy is more cards in people’s wallets showing up at merchants and spending every day.

“And with the launch of these four products, we see more American Express cards arriving and people being able to use their American Express cars around the world,” he said.

He said with partners like O3 making the American Express network even more vibrant than Nigeria and offering card membership to more people driving greater spending and expanding the powerful backing of American Express.

“Our goal is to offer a full portfolio of products in any country that we operate in. So our goal is to have multiple issuers over time that offer cards across the full spectrum of consumer and business segments that exist within Nigeria and working with O3 capital, you could see that there’s a range of four different products here. one small business three consumer and three consumer cards,” he said.