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Jan 18, 2023

Belize Bank Enters Agreement with American Express

The Belize Bank announced today that it has entered into an agreement with American Express to process American Express card transactions within its merchant network. The agreement took effect on January thirteenth. The Belize Bank prides itself as the premier financial institution in Belize and the most robust merchant acquiring service in the country, providing point of sale for all major card brands. The bank states that this new collaboration promises significant contributions to the Belizean economy through tourism, based on the fact that the majority of Belize’s visitors, seventy-six point eight percent to be exact, hail from the United States by Belize Tourism Board figures. The bank says that clients prefer to use their American Express card because of the benefits it offers. Going by Belize Bank statistics, the majority of American Express cardholders use their cards at the point-of-sale terminals at hotels, restaurants, and tour companies, particularly in San Pedro, Caye Caulker, San Ignacio, Hopkins and Placencia. The Belize Bank states in its release, “With this strategy, Belize Bank merchants will accept all American Express Credit Cards, as they accept other brands, using the same P.O.S terminal. Belize Bank will be able to develop secure and efficient payment solutions to help merchants adapt to their customer’s needs and payment methods,”. The Belize Bank’s Chief Operating Officer, Agata Ruta has said that the new initiative will not only benefit visiting tourists, but also Belizean merchants as its main objective of direct integration was to lower the cost of processing in Belize and provide robust, reliable, modern financial services. Meanwhile, Mario Luna, the Regional Vice President in Latin America and the Caribbean for the Global Network Partnerships at American Express, has invited local businesses to latch on to the new partnership and what it offers, saying that it builds a bridge between their customers and local business. The service, he says, can benefit and grow by having access to a group of higher spending customers and improve their payment experience.

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