American Express's joint venture in China, Connect (Hangzhou) Technology Services Co., Ltd. (hereinafter referred to as "Connect Company"), recently held the "2024 American Express Payment Ecological Partner Summit" in Changsha. The summit aims to actively respond to government and regulatory calls, work together with partners to further optimize payment services and improve payment convenience, and better support the high-quality development of China's payment industry.
"We actively respond to government and regulatory calls, work together with partners to continuously expand the number of domestic merchants accepting American Express internal cards issued by cooperating banks and American Express external cards issued overseas, and jointly optimize and upgrade the payment convenience and experience of American Express card members. With the guidance of regulatory agencies and the joint cooperation of partners, after four years of continuous strong investment and unremitting efforts, the vast majority of high-end brand hotels, chain luxury stores, duty-free shops, high-end commercial districts, and high-end catering merchants in China are now able to accept American Express internal and external cards."
According to disclosure, as the first Sino foreign joint venture bank card clearing institution in China to obtain a bank card clearing business license, Connected Company has achieved mobile payment coverage through cooperation with top mobile payment platforms, and rapidly expanded the domestic merchant acceptance map through cooperation with more than 20 banks and non bank payment institutions, completing the network access work of millions of merchant acceptance terminals.