American Express plans to start operations in Cuba

Tue Jan 27, 2015 3:28pm EST
 
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(Reuters) - American Express Co (AXP.N: Quote) said it would launch operations in Cuba following President Barack Obama's decision this month to ease sanctions against the communist-ruled island.

MasterCard Inc (MA.N: Quote) said last week it would allow its cards issued in the United States to be used in Cuba from March 1 as Washington eases restrictions on travel, trade and financial activities.

Marina Norville, a spokeswoman for American Express, confirmed in an email that AmEx also planned to start business activities in Cuba but provided no further details.

Visa Inc (V.N: Quote) has not revealed its plans for Cuba, and company executives were not available to comment on Tuesday.

(Reporting by Amrutha Gayathri in Bengaluru; Editing by Ted Kerr)

 
American Express and American Express corporate cards are pictured in Encinitas, California October 17, 2011. REUTERS/Mike Blake