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Golomt Bank has signed a deal with American Express Co. to provide acquiring and processing services for the United States-based card brand in Mongolia, the two organizations announced. The deal enables AmEx cardholders in the country to use the Mongolia-based bank's ATM network. Golomt, established in 1995, issues MasterCard- and Visa-branded cards. The bank, which says it has some 400,000 cardholders, earlier this year started issuing chip cards that conform to the global EMV antifraud standard (CardLine Global, 29 Oct.). AmEx did not say how many of its cards circulate in Mongolia.
