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Article: Internet ready: American Express wants credit card growth among middle-class Mexicans.
- Article from:
- Revista Latin Trade
- Article date:
- November 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Freedom Magazines, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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High-income people in Mexico prefer the American Express card. There, we are very strong, but we do want new segments," says Mario Sanmiguel, president of U.S. travel agency and credit card powerhouse American Express in Mexico. And that's a pretty good reflection of what's going on inside the company these days. From being the preferred card for people of means, the company is now targeting those who aspire to be rich: Mexico's middle class. Three years after launching its Blue card--the weapon of choice for the niche--Blue cards in circulation have grown by more than 300% in Mexico, according to experts.
Although traditionally a card for business executives and ...