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COST - Costco Wholesale News Story

$459.51 -3.8  -0.8%

Last Trade - 17/09/21

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £148.55bn
Enterprise Value £146.34bn
Revenue £135.36bn
Position in Universe 52nd / 7151

Costco ties up with Citigroup, Visa for co-branded credit cards

Mon 2nd March, 2015 1:29pm
March 2 (Reuters) - Warehouse club retailer Costco Wholesale 
Corp  COST.O  said on Monday it had entered into agreements with 
Citigroup Inc  C.N  and Visa Inc  V.N  for co-branded credit 
cards. 
    Citigroup will become the exclusive issuer of Costco's 
co-brand credit cards and Visa will replace American Express Co 
 AXP.N  as the credit card network for Costco in the United 
States and Puerto Rico from April 1, 2016.  ID:nMKW1JYWJa  
    Costco said last month that AmEx would stop being the card 
partner and the payment network for its U.S. stores. AmEx said 
the loss of the contract after 16 years would hurt its earnings 
for the next two years. ID:nL4N0VM5T1  
 
 (Reporting by Avik Das in Bangalore; Editing by Maju Samuel) 
 ((avik.das@thomsonreuters.com; within U.S. +1 646 223 8780; 
outside U.S. +91 80 6749 1130; Reuters Messaging: 
avik.das.thomsonreuters.com@reuters.net)) 
 
Keywords: COSTCO WHOLESALE CITIGROUP/
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