American Express and InComm today announced that they have completed a transaction pursuant to which InComm will become the exclusive distributor of single load prepaid cards for American Express in Canada effective later this year.
In 2018, InComm acquired exclusive distribution rights of American Express’ prepaid reloadable and single load gift card products in the U.S. InComm will now also be the exclusive program manager and processor for all single load prepaid cards for American Express in Canada. In addition, InComm will manage the distribution of these cards in Canada, including in brick-and-mortar retail, online retail, mall and B2B channels. A third-party financial institution will become the issuer for such cards.
“We are thrilled to celebrate and expand our partnership with American Express in Canada,” said Stefan Happ, President of InComm. “Over the last year we have experienced significant progress through our collaborative work in the U.S., and we are excited to extend our exclusive distribution of American Express prepaid products to new and existing distribution partners in Canada as well.”
“Extending our partnership into Canada means we can further benefit from InComm’s expertise and deep knowledge of the prepaid industry,” said William Stredwick, Senior Vice President, Global Network Services, American Express. “We are excited to continue our partnership with InComm which allows us to expand our single load prepaid cards to even more Canadian customers.”