09/18/2014 01:35 EDT | Updated 06/16/2017 00:58 EDT

Costco Canada Ditches American Express, Says New Options In The Works

FILE - In this Jan. 20, 2010 file photo, American Express cards are posed for a photograph in Phoenix. American Express on Wednesday, Jan. 19, 2011 said it expects to report a sharply higher fourth-quarter profit, although it will be reduced by charges from newly disclosed plans to close a customer service center in North Carolina. (AP Photo/Ross D. Franklin, File)

TORONTO - Costco Wholesale Canada and its only credit card supplier, American Express, are severing their 15-year relationship.

A Costco spokesman says that Dec. 31 will be the last day that the big-box store operator will accept Amex payments, although co-branded cards will continue to be accepted as membership identification.

The company hasn't disclosed what will replace Amex cards at its 88 Canadian stores.

Costco spokesman Ron Damiani (dahm-ee-yah-nee) also says the company isn't saying why it's parting ways with Amex.

Costco will have information about new payment and membership card options soon, but Damiani declined to be more specific.

Costco is known for operating no-frills warehouse-type stores that require shoppers to sign up for memberships and limited payment choices — primarily debit card, cash and American Express.

"There was a time when we didn't accept any credit cards. Since we started the agreement with American Express, we only accepted American Express cards," Damiani said from Costco's Canadian head office in Ottawa.

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