A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
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September 8, 2023
On the web
Amex Research: Small Businesses Shake Things Up to Win Customers and Boost Sales
American Express
August 1, 2023
On the wires
Skipify & Amex Team Up to Elevate Shopper Experience at Checkout
PR Newswire
June 30, 2023
On the web
Goldman in Talks to Offload Apple Credit Card, Savings Products to American Express, Source Says
CNBC
June 7, 2023
On the web
American Express and Bluechain Announce Partnership to Streamline SME Payment Processes
Fintech Finance
May 30, 2023
On the web
Amex Planning to Use AI for ‘Approving Cards and Lines of Credit’
Cointelegraph
March 23, 2023
On the web
American Express Launches First Card Bill PayID Service in Australia on the New Payments Platform
American Express
March 14, 2023
On the web
Timpson, B&M & EG Group Partner with American Express as Growth of Its UK card Acceptance Accelerates
American Express
February 1, 2023
On the wires
American Express Launches New Cash Flow Management Hub, Expanding Its Powerful Backing for Small Businesses
Businesswire
January 12, 2023
On the wires
American Express to Acquire B2B Payments Automation Company Nipendo
Businesswire
December 13, 2022
On the web
American Express Opens Singapore Decision Science Center of Excellence
American Express
“American Express announced it has opened a new Decision Science Center of Excellence (CoE) in Singapore that will deliver global data-driven solutions. The CoE will focus on data science applications in the areas of credit and fraud risk model development and production using artificial intelligence (AI), machine learning (ML), and natural language processing (NLP). “Singapore is a recognized world-leading financial and technology hub,” said Changbin Wang, Managing Director for the American Express Singapore Decision Science Center of Excellence, “Setting up a global innovation center in Singapore reflects our commitment to continue investing in this country, and we are confident the country’s exceptional and diverse talent will help fuel American Express’ next wave of innovation to better service our global Card Member base.” “American Express’ Decision Science CoE is an exciting addition to Singapore’s digital industry, presenting more opportunities for talent to apply cutting-edge research methods to solve global-scale and complex issues faced by the industry. We look forward to the exciting outcomes from the CoE which will in turn attract and groom global experts from Singapore,” said Philbert Gomez, Vice President and Head, Digital Industry Singapore (DISG). Over time, American Express is expected to expand the focus of the Center of Excellence to include cutting-edge research leading to the development of other AI, ML and NLP technology use cases to support the company’s growth aspirations.”
December 1, 2022
On the wires
American Express Launches Amex Business Link™, a New Digital B2B Payments Ecosystem for Network Participants
Businesswire
“American Express announced Amex Business Link™, a new business-to-business (B2B) payments ecosystem for network issuing and acquiring participants to offer to their business customers. Amex Business Link makes managing payments easier for buyers and suppliers of all sizes by accepting card and non-card payments and supporting domestic and cross-border transactions. The new digital ecosystem is equipped with reporting and reconciliation tools and connects to all customer relationship management (CRM) and enterprise resource planning (ERP) systems that use APIs… For buyers and suppliers, the solution provides: An easier and safer way to manage their payments and connect directly with other businesses through the ecosystem; Seamless connectivity to ERP/CRM systems via APIs; Multiple payment methods including card, ACH, wire, check, etc.; Purchases and sales insights that allow companies to monitor growth; Access to dynamic reports that allow automatic reconciliation.”
November 16, 2022
On the wires
American Express and Square Partner to Create First Credit Card for Square Sellers
Businesswire
“American Express and Square announced an expansion of their relationship and plans to launch a new credit card built specifically for Square sellers on the American Express network. The new card will be the first credit card Square offers to its community of small business owners in the U.S. It will integrate directly with Square’s broader ecosystem of solutions, empowering sellers to organize their finances and manage their cash flow from the same platform they use to run their business.”
August 16, 2022
On the web
WebBank Collaborates with American Express to Expand Credit Card Issuing
American Express
“Alliance will focus on offering payment products on the American Express network through fintechs – WebBank announced today an agreement with American Express to become a card issuer and participant in the American Express network. The collaboration allows WebBank to issue credit card and payment solutions that include American Express benefits. American Express selected WebBank as one of its key issuing banks focused on the fintech industry.”
August 2, 2022
On the web
American Express® Launches Digital, Cross-Border Payment Solution for U.S. Small Businesses
Businesswire
American Express®, the leading Small Business Card issuer in the U.S.1, today announced American Express Global Pay – a new digital solution that enables U.S. businesses to securely2 make domestic and international business-to-business (B2B) payments. Through this new digital solution, business customers can send payments funded from their business bank account to their suppliers in more than 40 countries, across a range of currencies, using a simple, mobile-friendly platform. Eligible customers can also earn Membership Rewards® points on their foreign exchange payments.3 American Express Global Pay is currently available to eligible U.S. American Express Small Business Card Members.
July 14, 2022
On the web
American Express® Enhances Blue Cash Everyday® Card with New Design, Cash Back Rewards, and Benefits
Businesswire
“American Express today launched the refreshed Blue Cash Everyday Card with new online shopping rewards, credits for streaming and cooking at home, and a sleek new Card design. Blue Cash Everyday now offers 3% cash back on U.S. online retail purchases, at U.S. supermarkets, and at U.S. gas stations on up to $18,000 per year ($6,000 per year in purchases in each category) with 1% back on all other purchases. The Card also offers new monthly statement credits2 of up to $15 back on online purchases at Home Chef, a meal service that delivers simple and convenient recipes and ingredients to your door, and $7 back after Card Members spend $13.99 or more each month on an eligible The Disney Bundle subscription, the streaming subscription offer with Disney+, Hulu, and ESPN+. With these new benefits, Blue Cash Everyday Card Members can now access more than $250 in value annually, in addition to cash back on all eligible purchases, with no annual fee1.”
June 13, 2022
On the web
New American Express Credit Card Lets Shoppers Earn Crypto Rewards Tradable Across 100+ Cryptocurrencies
Bitcoin News
“American Express and crypto trading platform and wallet provider Abra announced the upcoming launch of the Abra Crypto Card on the American Express network Friday…“The crypto rewards will be tradable across over 100 different cryptocurrencies supported by Abra, with no annual or foreign transaction fees,” the crypto company detailed.”
May 12, 2022
On the web
American Express & Google Team Up to Make Shopping Easier with an Added Layer Of Security When Using Autofill on Chrome and Android
American Express
“[Amex] We’re working with Google to let Card Members* convert to and save virtual card numbers (VCN) when they use Autofill on Chrome and Android. Virtual card numbers make shopping online and in Android apps safer by replacing the 15-digit physical card number with a virtual number, or token, which provides an extra layer of protection from potential fraud. Virtual card numbers also automatically populate a dynamic four-digit security code (CID), making checkout that much easier and helping to protect you from potential fraud…To get started with a virtual card number, Card Members checking out with an eligible card using Autofill on Chrome and Android will be prompted to create a virtual card number. Once a virtual card number is created, the Card Member will see the option to pay for their next transaction using their virtual card number whenever they use Autofill at checkout on Chrome or Android. During the checkout process, American Express will also generate a dynamic CID that will allow Card Members to skip the step of having to enter in the four digits displayed on the front of their card. Physical card numbers are not shared with merchants, adding an extra layer of card security.”
May 10, 2022
On the wires
American Express Teams Up with Versapay to Create a More Efficient Accounts Receivable Experience for Suppliers and Buyers
“American Express and Versapay, the Collaborative Accounts Receivable company, today announced a new agreement to provide suppliers who utilize the functionality of American Express virtual cards with access to Versapay’s world-class collaborative accounts receivable (AR) network of buyers and suppliers. “Business buyers are increasingly turning to virtual cards to make faster, more efficient payments while giving them flexibility and better cash-flow management. Suppliers are benefiting from these faster payments; however, the increasing volume of these transactions is making automating the receivables even more essential,” said Colleen Taylor, President, Global Merchant Services – U.S. at American Express. “Our collaboration with Versapay will enable us to offer a fully automated acceptance experience and further support our supplier network while helping to improve the B2B payments process.””
April 29, 2022
On the web
American Express Partners with Billtrust to Offer Suppliers a Solution to Accounts Receivable Challenges
Businesswire
“American Express Company (NYSE: AXP) today announced a collaboration with Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, to enable suppliers to streamline acceptance of American Express virtual cards. With this integration, suppliers will have the ability to automate and accelerate virtual card payments from customers while receiving a real-time view of their outstanding invoices and current cash flow.”
April 14, 2022
On the wires
Nayax and American Express Partner to Enable Payments in UK
prnewswire
“Nayax Ltd. (TASE: NYAX), a global commerce enablement and payments platform designed to help merchants scale their business, is proud to announce an integration partnership with American Express across EEA & UK markets. Nayax UK will be the first office to implement this change in the UK, across all Nayax VPOS Touch and Onyx cashless payment devices installed across unattended industries, including vending, self-service laundromats, kiddie rides, office coffee services, automated car washes, and more. This will enable Nayax retailers to accept American Express® Cards for all purchases and services.”
November 22, 2021
On the web
AmEx Pitched Business Customers a Tax Break That Doesn’t Add Up
Wall Street Journal
“The pitch went out to eye doctors, McDonald’s Corp. franchisees and payroll companies: “Reduce your taxable income burden to Uncle Sam.” In phone calls, emails and in-person meetings with thousands of business owners, American Express Co. salespeople laid out the strategy. Use AmEx to pay your employees and suppliers, they said. You’ll have to pay a fee, but you’ll come out ahead. That’s because you can earn rewards on the transaction that can be converted into untaxed cash, while also deducting the transaction fees for tax purposes.”
October 28, 2021
On the wires
American Express® Launches New Fully Digital Business Checking Account for U.S. Small and Mid-Sized Businesses, With First-Ever Amex-Issued Debit Card
“American Express® (NYSE: AXP), the leading small business Card issuer in the U.S.3, today introduced its new Business Checking account designed for small and mid-sized (SME) businesses. This fully digital Business Checking account offers a secure, high-yield, and low fee digital banking experience with a competitive APY of 1.1% on balances up to $500,0002. The checking account connects with existing American Express Credit Cards and comes with a Business Debit Card, the first to be issued in the U.S. by American Express.”
October 4, 2021
On the wires
American Express and Extend Partner to Enable Virtual Cards for U.S. Small and Mid-Sized Businesses
“American Express (NYSE: AXP) and Extend, a New York City-based fintech specializing in virtual cards, announced their partnership to expand virtual Card solutions for U.S. businesses. U.S. companies with an eligible American Express Business Card can now enroll and create virtual Cards, also known as tokens, through Extend’s app or desktop login in as little as five minutes using their existing American Express Card account.”
September 3, 2021
On the web
AmEx Deepens Its Ties in China Via an Acquiring Agreement With Leshua Technology
Digital Transactions
“U.S. payments networks continue to cultivate their connections to what is for them a potentially massive market in China. In the latest development, Leshua Technology announced early Friday it will support acquiring for American Express Co.’s joint venture in China. AmEx last year became the first foreign payments company to win approval to clear domestic transactions in mainland China. The card company, which in 2018 had gained clearance from the Peoples Bank of China to enter the Chinese market, is part of a joint venture in that country with LianLian DigiTech Co. Ltd., a Chinese fintech.”
July 7, 2021
On the wires
Lots of Amazon Packages This Week? American Express Evolves Its Digital Receipts Feature to Help You Easily Identify Those Purchases
“With more people shopping online, in February we rolled out Digital Receipts , a feature that gives U.S. Card Members access to additional information about their purchases with specific merchants, such as the merchant name and logo, order number, date of order, items purchased, details of cost and merchant description. Today, we are expanding the feature to provide Card Members who shop on Amazon increased purchase information about their recent orders with the retailer. With the new Digital Receipts for Amazon purchases, Card Members will be able to see detailed information on their order including the specific items purchased, the order number and even delivery details.”
July 1, 2021
On the web
American Express Partners With Fintech Firms to Help Customers Find Mortgages
CNBC
“American Express has two new fintech partnerships it’s marketing for customers interested in home loans. It’s the latest perk for cardholders and another example of financial institutions partnering with start-ups to offer customers a fuller suite of services or additional perks outside of the scope of the firm itself, an AmEx spokeswoman confirmed Wednesday to CNBC.”
April 23, 2021
On the web
American Express Says Travel, Entertainment Spending Improving
Wall Street Journal
“American Express Co. is seeing consumer spending start to normalize as Covid-19 vaccinations pick up in the U.S. Spending in travel and entertainment categories rose 40% in March from February and bookings through American Express Travel jumped by 50% in the first quarter compared with the fourth quarter, Chief Financial Officer Jeffrey Campbell said in an interview Friday. Mr. Campbell said the number of people signing up for the company’s co-branded cards with Delta Air Lines Inc. rose 90% in the quarter compared with the fourth quarter.”
February 18, 2021
On the web
Amex Launches Digital Receipts to Reduce Buyer Confusion
PaymentsSource
“The explosion of digital commerce during the pandemic has triggered a surge in calls from consumers to card issuers and merchants seeking more details about purchases appearing on card statements. Some unrecognized purchases could be fraudulent in the current environment, but many are legitimate and American Express is attempting to make it easier for consumers to confirm transactions they made with the rollout of Digital Receipts.”
February 12, 2021
On the web
American Express Acknowledges DOJ Review of Card Sales
Wall Street Journal
“American Express Co. acknowledged Friday that government agencies, including the Department of Justice, have reviewed the company’s sales practices regarding small-business cards. The company said in a regulatory filing that in May it began responding to a regulatory review led by the Office of the Comptroller of the Currency and the DOJ’s civil division. AmEx said the review was connected to “historical sales practices relating to certain small business card sales.””
February 1, 2021
On the wires
American Express and Resy Launch – Order In, Help Out Campaign – to Boost Restaurant Takeout Sales
“American Express (NYSE: AXP) and Resy today launched a national campaign with a simple message: Order In, Help Out. As part of the Order In, Help Out campaign American Express and Resy are rallying consumers across social media to make #TakeoutTuesday a weekly occurrence. In addition, to help encourage Card Members to order out, American Express is introducing new dining offers on many of its cards.”
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