American Express has embarked on opening up its franchised network to the Hong Kong banking community, a move that has encountered stiff opposition from the two dominant players, MasterCard and Visa.
In a gradual revamp of its corporate strategy, American Express launched its credit card in May and is now talking to local financial institutions about offering 'network' cards.
Subject to individual discussion, American Express plans to co-operate with Hong Kong banks and offer them its proprietary network which has travel offices in 127 countries and commands an established rewards programme.
'There are ongoing discussions with selected banks here in Hong Kong,' said Ian Marsh, general manager for American Express, Hong Kong and China.
Mr Marsh said the targets for such talks were financial institutions whose ties with Visa or MasterCard were less apparent and strong.
'There are banks which don't feel that they are being fairly represented,' Mr Marsh said.