American Express


All aboard the Amex blockchain payments express

American Express has launched blockchain-enabled, business-to-business cross-border payments with Santander using Ripple’s network. The Amex FX International Payments (FXIP) business is working with Ripple to make blockchain payments commercially available, “reducing the time and cost of settlement”. Santander UK is the selected partner to initiate this new transaction channel. Marc Gordon, EVP and CIO at […]

InComm to buy Serve platform, become exclusive Amex prepaid distributor

American Express and InComm have entered into an agreement for InComm to acquire the exclusive distribution rights of Amex’s prepaid reloadable and gift card products in the US, including Bluebird and Serve. InComm also will acquire the Serve technology platform and other assets related to the American Express prepaid reloadable and gift card products business. […]

Fintech earnings round-up: 24 July 2017

It’s been a busy time for second- and fiscal third-quarter earnings reports. Features Bank of America, Amex, Blackhawk Network and Visa. Banking Technology’s sister publication Paybefore reports. Bank of America (BofA) has beaten analyst expectations with earnings per share of 46 cents on revenue of $22.829 billion for the second quarter ended 30 June 2017. […]

PFS deal to provide Moneymailme users with prepaid cards

Users of Moneymailme will have the option of using physical and virtual prepaid cards to make purchases with the funds in their e-wallets. The new feature, announced June 28 at the Money 20/20 Europe conference, is the result of a partnership between the London-based social money transfer provider Moneymailme and Prepaid Financial Services, a U.K.-based payments technology provider.

SunTec system fits the bill for Amex business travel

American Express Global Business Travel (GBT) has opted for SunTec’s Xelerate billing system for its corporate clients. According to SunTec, its platform can onboard new geographic regions and “weaves data locked in various legacy and modern billing systems” to create relevant offers for American Express GBT’s corporate clients. Michael Konstas, VP of billing strategy at […]

U.S. Credit Cards Gain Ground on Debit, Prepaid, Nilson Says

The U.S. purchase volume of credit, debit and prepaid cards increased 7 percent in 2016 compared with last year, according to The Nilson Report. That purchase volume hit $5.648 trillion last year, with the volume from American Express, Discover, Mastercard, and Visa credit cards increasing 8 percent year over over to reach a combined $3.059 trillion—the first time that figure has topped $3 trillion.

Prepaid gains more love from Canadians

Reloadable prepaid cards are a hit with Canadian consumers, with 95% of them saying they are satisfied with the products in 2016, reports Banking Technology‘s sister publication Paybefore. The figure represents an increase of 22 percentage points from 2015, and stands as the highest satisfaction rate for all payment tools, according to the second annual […]

Blockchain and Bitcoin round-up: 1 February 2017

The world moves fast, so you need a fast read. A round-up of key events to save you time. PayCommerce, an open cross-border payments network, has completed its real-time, cross-border payment, clearing and settlement testing. It is the first phase of its multi-country global roll out strategy and was done between the US and India. […]

Top ten lending sites in the US – July 2016

Who is leading the digital way among the lending companies in the US? We have put together some nifty stats for the US top ten online lending sites for the past month (data courtesy of SimilarWeb). We’ll be publishing regular updates on a monthly basis, to track the changes, developments and trends – to bring you a fuller […]

Top ten lending sites in the UK – July 2016

With digital financial services sharply on the rise in the UK, who is leading among the UK lenders? We have put together some nifty stats for the top ten online lending sites in the UK for the past month (data courtesy of SimilarWeb). We’ll be publishing regular updates on a monthly basis, to track the changes, […]

Amex teams with Facebook for Messenger bot

American Express is partnering with Facebook to provide an Amex bot for its card members in Messenger. The concept will allow Amex card members to sign up to receive real-time notifications about their purchases, and information about card benefits and services related to those purchases. For example, if a member purchases an airline ticket, the […]

High five for Apple Pay in Singapore

Apple Pay support is expanding beyond American Express to Visa and MasterCard credit and debit cards from five of Singapore’s major banks. The big banks include POSB, DBS, OCBC, Standard Chartered and UOB. This latest deal is a significant development for Apple as it now has more than 80% of the Visa and MasterCard credit […]

Should banks consider domestic payments schemes?

Domestic card schemes have traditionally partnered with MasterCard and/or Visa in an arrangement that leaves the domestic player handling the local transactions and their international partner facilitating and controlling the international business. Should banks work with both or just partner with one of the international schemes?