Interesting how Mastercard is now planning to compete for AXP corporate business using relationships built with banks through tactics which have since been ruled illegal by the Federal government. I sure hope AXP is counter attacking and trying take some of the VISA/Mastercard banking related business as a result of the recent Dept. of Justice decision.
Yes, we all are wondering when the banks will start issuing Amex cards directly. Lots of interesting questions that will impact the bottom line such as who will handle the cards, Amex employees or the banks who issue the cards?
What cards will be issued? the full range from personal to corporate?
And how soon can we expect this to happen?
I didnt see any answers in the earnings statement..bare facts from the past none of which were of note.
Im sure anyone in the know isn't allowed to say so we can keep on guessing here. 6 months from the date of the ruling?
Firefly, I guess the recent news re: "the stay granted until the Visa appeal" explains a lot. The reaction by the Visa VP sounded like a full sized load of B.S. I think AXP should make some attempts to publisize this issue more, and make consumers aware of how Visa drives up the prices of everything. Also, I remember reading that Wallmart was going to sue Visa. Have you heard anything about this?