Wells Fargo Ties Up With AmEx for Credit Card Issuing Program

Wells Fargo & Co. (WFC) will tie up with American Express Co. (AXP), the world’s biggest credit card issuer by purchases, to offer cards accepted on American Express’s network of merchants.

Wells Fargo, the largest U.S. home lender, will begin a pilot program in select U.S. markets in the third quarter of 2013 before offering all customers a full program starting in the first half of 2014, the companies said in a joint statement. Financial terms of the agreement weren’t disclosed.

“We are delivering on our strategy to expand our credit card business,” John Stumpf, chief executive officer of San Francisco-based Wells Fargo, said in the statement. “Our goal is to offer Wells Fargo customers a suite of cards that help them meet their financial goals.”

To contact the reporters on this story: Colin Keatinge in Singapore at ckeatinge@bloomberg.net; James Gunsalus in Tokyo at jgunsalus@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net

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