Feb 10 , 2011

American Express Canada offers up 'FX International Payments

MARKHAM--American Express Canada has a new online foreign exchange payment solution for Canadian businesses. American Express FX International Payments (FXIP) allows clients to make foreign currency transactions at competitive rates and with the convenience, security and control of 24/7 online service.

"For many small and medium sized businesses, navigating the volatile and complex global foreign exchange market can be as challenging as learning a foreign language," said Jeff Gladwish, Director, FXIP, American Express Canada. "Our clients have told us they're looking for cost-effective and efficient ways to transact internationally, so we've put over a century of foreign exchange expertise to work in designing a solution that gives our clients the support and tools they need."

With FXIP, businesses can be confident that they are getting a competitive exchange rate thanks to American Express' purchasing power and financial expertise. And with the company's ongoing investment in global technology, FXIP offers customers a simple, convenient and tailored way to manage worldwide payment needs, supported by a secure online platform to provide important protection.

FXIP's comprehensive suite of foreign currency solutions offer significant benefits that include:

--Competitive live exchange rates on more than 110 currencies

--An online, convenient and secure payments platform available 24 / 7 that enables the management of all transactions in one place

--Ability for American Express Cardmembers to earn Membership Rewards points on foreign exchange transactions at a rate of 1 point for every $30 transacted

--A secure online platform which can be tailored to individual business requirements

--Access to Foreign Exchange Specialists to ensure businesses receive premium service

--Rate alerts via e-mail or SMS to notify subscribers when a specific rate for a chosen currency becomes available

Clients can also make transactions over the phone and benefit from FX specialists who are equipped with the technology and experience needed to understand the FX market.

"Our launch in the Canadian market is in direct response to significant growth we are seeing in the international payments industry. As our customers are looking for competitive leading-edge financial solutions to keep their businesses moving forward, American Express also provides them with the brand name and reputation for service excellence which are especially important in uncertain times," Paul Hargreaves, Vice President and General Manager, Global Foreign Exchange Services.

American Express in Canada operates as Amex Bank of Canada and Amex Canada Inc. Both are wholly owned subsidiaries of the New York based American Express Travel Related Services Company, Inc., the largest operating unit of the American Express Company. Amex Canada Inc. operates the Corporate Travel, Travel Services Network and Travellers Cheques divisions in Canada. American Express opened its first offices in Toronto and Hamilton in 1853 and now employs 3,700 Canadians coast-to-coast. Amex Bank of Canada is the issuer of American Express Cards in Canada and is a leader in charge and credit cards, with outstanding products like the American Express(r) AeroplanPlus(r) Card, and the American Express(r) Gold Rewards Card.


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