Dwidaya, Amex tie up

JAKARTA (JP): PT Dwidaya Tour & Travel signed a co-branding agreement with credit card company American Express International Inc. to provide a foreign exchange service.

Dwidaya's CEO Chris Tjong said under the agreement signed on Monday, Dwidaya will open booths in all its existing offices, where it will buy and sell all major currencies and cash Travelers' Checks.

American Express will transfer its foreign exchange standards and processing technology to Dwidaya.

"This alliance with American Express will ... enable us to capture a greater market share of the very sizable foreign exchange business in Indonesia," he said in the statement.

Dwidaya, established in 1967, has 10 outlets in Jakarta and five offices in Denpasar, Bali; Semarang, Central Java; Solo, Central Java; and Yogyakarta.

Dwidaya is also part of 1,700 travel offices in over 130 countries around the world, affiliated with American Express Travel International.(tnt)