Card payments provider American Express rolled out four new credit cards in Nigeria this week, in its push to become a dominant player in Africa’s fledgling credit market. The cards, which are dollar-denominated and target both individuals and businesses, are produced with O3 Capital, a decade-old card issuing company in Lagos, Nigeria. American Express credit cards first became available in Nigeria last year through a partnership with Access Bank, Nigeria’s largest commercial bank by assets. Nigerian banks usually issue credit cards in partnership with leading global card networks. For example, Guaranty Trust Bank, and Standard Chartered issue naira credit cards with Visa, another US financial services multinational, while United Bank for Africa’s are issued with Mastercard.

SEMAFOR