The newly formed tie-up, to be known as `Tata Finance American Express' (TFL-AMEX), is expected to begin its operations by the end of this year, an official of the travel company Sujit Mittra said. The signing up of two partnership agreements would help provide a range of money changing and foreign exchange services through a large number of co-branded outlets across the country.

The company has already entered into a joint venture with Keppel Tatlee Bank Ltd in Singapore, one of the Asian Pacific countries, to provide foreign exchange and other travel-related services to passengers at Singapore Changi international airport. TFL-AMEX will operate in both the retail and the wholesale segments.