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Statement on the Revised Payment Services Directive (PSD2) in the European Union

January 12, 2018

The combined impact of the EU Payments Package – including price caps, separation of payment scheme and processing operations, pan-European licensing, and network access requirement – impose a regulatory burden on the American Express licensing business that renders it no longer viable. American Express has, therefore, taken the decision to exit all of its licensing arrangements in the EU. As a result of this, American Express will no longer be operating a licensing business within the EU and no new licenses will be issued. The company has terminated its licenses with its existing partners, and is in the process of winding down those operations.