American Express Co. is launching its first business credit card in Nigeria in partnership with local neobank O3 Capital, potentially improving access to dollars in the West African nation.

O3 Capital and Amex unveiled the product on Thursday in Lagos, the commercial capital, offering the business card with a spending limit of $10,000.

With the O3 American Express Green, Gold, and Platinum Cards, O3 Capital will enhance its overall customer offering, providing American Express Card Members a range of travel and lifestyle benefits for use in Nigeria and when travelling overseas. These Cards will provide access to discounts at select businesses across Nigeria, cinema and dining perks, hotel and car rental benefits, and various insurances and protections.

Additionally, the O3 American Express Platinum® Card will provide access to a travel and lifestyle concierge service, a membership with a global hotel programme, and five complimentary visits per year to eligible local and international airport lounges. Cards will be able to be used at American Express accepting merchants across Nigeria and around the world.

The O3 American Express® Gold Business Card will be the first American Express card launched in Nigeria to specifically support the spending needs of businesses. This card will improve the day-to-day management of business transactions and cashflow with access to a credit facility, the ability to perform international transactions, and the inclusion of an extended repayment period of up to 45 days. It will also aim to support the running of a business, with benefits such as three complimentary visits per year to eligible local and international airport lounges, car rental perks, and travel insurance included.

Abimbola Pinheiro, Chief Executive Officer of O3 Capital, said:

“This agreement with American Express is a significant milestone, both for O3 Capital and for Nigerian businesses. We will provide solutions for a wide range of customers – from consumers looking for more value from their payment products to businesses who want to enjoy the benefits of a domestically issued card with the international reach of American Express. We are particularly proud to be the first who will issue an American Express Business card to the Nigerian business community and we look forward to working with American Express to fulfil our potential.”

Mohammed Badi, President of Global Network Services at American Express, commented:

“With the O3 Capital American Express cards, consumers and businesses in Nigeria will have even more payment choice. American Express is excited to continue to strengthen its presence in Nigeria and expand its reach across Africa. The first-ever American Express Business Card in the most populous African country will give us another way to support local businesses with their growth aspirations.”

seunmsg:
Bitter Obi and his gang of hate filled cretins will still call this propaganda.

Lizzysamuel:


Cry cry baby. You all are reaping karma.

2012 it was GEJ and you guys. Today it is the turn of Obidients and your Balablue

Shebi una wan rule? Enjoy it😂😂

Wailing Wailer.

seunmsg:
Bitter Obi and his gang of hate filled cretins will still call this propaganda.

LegendHero:

Company bringing investment and you are still very bitter.


Bitterness and bitter Obi supporters are like 5&6.

Below is my two Amex card (both corporate and personal). Bringing this to Naija and giving business the luxury to have $10k limit for starters is a good step. You don’t need to be bitter about every news like Obi.

LegendHero:


Bitter Obi and bitterness are like 5&6. He don corrode those his deluded supporters brain.

Lizzysamuel:


Which company is bringing which investment?

This little boy and his tantrums.

It's just like celebrating over First Bank dollar ATM😂.

When they're outrightly in the country to milk their own cow because of the rate of Japa and oversea travels.

How much are they investing? I dare you to show me.

Grow up boy

LegendHero:

Company bringing investment and you are still very bitter. Bitterness and bitter Obi supporters are like 5&6.

Below is my two Amex card (both corporate and personal). Bringing this to Naija and giving business the luxury to have $10k limit for starters is a good step. You don’t need to be bitter about every news like Obi.

LegendHero:


What is a credit card and how does it work? Let’s start from there.

Lol how does dollar ATM relates to a Dollar credit card? You don’t even understand the post so how can you even discuss about it?

LegendHero:


What is a credit card and how does it work? Let’s start from there.

Lol how does dollar ATM relates to a Dollar credit card? You don’t even understand the post so how can you even discuss about it?

Putindbutt:
Bitter Obi and Obi supporters are saying investors avoing the country.

Lizzysamuel:


So you're celebrating Credit Card as investment?😂

Is this how low Nigeria has sunk?.

Sorry

LegendHero:


What is an investment?

If as a small business, I have access to $10k credit card that I can spend easily abroad and repay back within some certain time frame or at least pay the monthly minimum interest, is that not an investment?


The money they are bringing to the Nigerian market to service that, is that not investment?

I know you have never used a credit card before, so you won’t understand. It’s only poor people that sees access to credit as a disadvantage.

Cindypresh:


Untop this poor photoshooting😂

Lizzysamuel:


Instead of to celebrate your small win, you're here having an orgasm with Obi 😂.

Kai. Bateria don really chop this one bad

Lizzysamuel:


How does turning your citizens into debtors an investment that you and this administration should be celebrating?

seborrhic:

What is even the win here?
Is the card not going to be funded in dollars?

LegendHero:


The major reason why most developed countries flourish is access to capital that their citizens have.

If people have access to capital with low APR, everyone can get a credit card or business loan, then use it for their business, after which they gain profit and then pay back bit by bit. That is the only legit way to give the son of a nobody access to compete.

Imagine a guy that just finished NYSC have quick access to like $5k to start a business of his choice, isn’t that better than him running around to beg people before he can find a 1milli worth business?

My reply is not for you because you can’t understand. My reply is just for other Nairalanders.

seborrhic:

What is even the win here?
Is the card not going to be funded in dollars?

Lizzysamuel:

Bateria you mean Credit Card investors?

Lizzysamuel:


Oni Gbese stop saying nonsénse.

It seems you didn't read your own post.

It says that the card is for oversea travels and purchases. Go back and read your la cream la pour

Cards will be able to be used at American Express accepting merchants across Nigeria and around the world.

“With the O3 Capital American Express cards, consumers and businesses in Nigeria will have even more payment choice. American Express is excited to continue to strengthen its presence in Nigeria and expand its reach across Africa. The first-ever American Express Business Card in the most populous African country will give us another way to support local businesses with their growth aspirations.”

LegendHero:


Yes, so how is that not useful?

Did they say you can’t spend the dollar card for Nigeria businesses?

LegendHero:

Illiteracy is the problem here.

Normally all credit cards come with other perks and that’s usually travels, hotels, and some other form of cash back.

Whether it’s AMEX, Discover, Wells Fargo, Chase, or any card.

It dosen’t necessarily mean you can’t use it for other means. This is one of the statement in the post.