AmEx to cut Telstra payments processing fees
(5 December 2005 – Australia) American Express will reduce the payment processing fee (PPF) for payment of Telstra products and services in early 2006.
The two parties said the move was part of their strategic alliance which consists of innovative consumer and corporate customer offerings and marketing campaigns.
"We are more than confident that our marketing partnership will more than offset any financial impact to Telstra resulting from reducing the American Express PPF for our customers," Telstra CFO John Stanhope said.
American Express managing director Pierric Beckert said the move to parity surcharge was the start of a number of opportunities to generate more value for the company’s card members.
"Over the coming months, our customers can expect to see some innovative offerings which will bring better products and services to personal customers and help corporate clients build their businesses," he said.
"American Express works with its merchant partners to grow their businesses by driving high spending customers into their establishments. We can do this because we have a direct relationship with our customers and our merchant partners," Beckert said.
"We are more than confident that our marketing partnership will more than offset any financial impact to Telstra resulting from reducing the American Express PPF for our customers," Telstra CFO John Stanhope said.
American Express managing director Pierric Beckert said the move to parity surcharge was the start of a number of opportunities to generate more value for the company’s card members.
"Over the coming months, our customers can expect to see some innovative offerings which will bring better products and services to personal customers and help corporate clients build their businesses," he said.
"American Express works with its merchant partners to grow their businesses by driving high spending customers into their establishments. We can do this because we have a direct relationship with our customers and our merchant partners," Beckert said.
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