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Article: Visa CEO Says American Express Now Less of a Competitive Threat. (Edmund P. Jensen)
- Article from:
- American Banker
- Article date:
- October 20, 1997
- Author:
CopyrightCOPYRIGHT 1997 SourceMedia, 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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American Express doesn't worry Visa the way it did a year ago.
Edmund P. Jensen, president of Visa International, said American Express failed to deliver on the competitive threats that were so prominently on credit card bankers' minds.
In Puerto Rico for the annual meeting of Visa's Latin American and Caribbean membership, Mr. Jensen said the New York-based financial services giant "hasn't lived up to its billing in terms of what it said it would get out of banks."
Those statements, beginning with a May 1996 appeal from American Express chairman Harvey Golub that bankers consider entering into marketing partnerships with his company, started a war of ...