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05/10/2009 -
Following quickly on the heels of finance minister Jim Flaherty's announcement of Canada's new credit card regulations, American Express said it will launch a new advertising campaign focused on the multibillion-dollar Canadian credit card market."Canada is one of the most important international markets for American Express and I think it is because we've grown as a market," Denise Pickett, president of American Express Canada, told the Toronto Star.
The campaign, themed "Realize the Potential," will launch on October 12 and will be targeted at Canadian consumers aged 25 and older, the Star reported.
The campaign will be focused on rewards programs - a sweet spot in the Canadian payment processing industry - that will center on everyday purchase categories such as gas and groceries.
Although Interac largely dominates the payment processing market in Canada - at least with debit card transactions - American Express, Visa and MasterCard are gaining a substantial foothold in the market. There were 2.65 billion Canadian purchase transactions generated by these three card issuers in 2008, up 9.3 percent from 2007, according to the Nilson Report.
