TORONTO — Amex Bank of Canada on Tuesday announced a distribution deal with Toronto-Dominion Bank to offer commercial cards and other expense management services to some of the bank’s commercial and corporate clients.
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It is the first such deal American Express Co. has ever done, said Herve Sedky, its vice president of corporate services in Canada.
The companies did not say how much the two-part deal was worth.
Toronto-Dominion has outsourced its corporate card and corporate purchasing card portfolios exclusively to Amex, which has paid the bank an up-front fee and will pay it for every corporate referral.
The cards will carry the American Express brand and will run on the Amex network.
