Payments News

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Companies

Open banking fintech Yapily partners with American Express

“Open banking infrastructure provider Yapily has partnered with American Express to assist in delivering Amex’s payment initiation service across Europe. The service, Pay with Bank Transfer, will use Yapily’s open API to gain bank coverage across selected European markets over the coming months. In addition, the two companies hope the alliance will enable Amex to […]
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Companies

AmEx in Advanced Talks to Buy SoftBank-Backed Kabbage

“American Express Co. is in advanced talks to buy the online small-business lender Kabbage Inc., which is backed by investors including SoftBank Group Corp. ’s Vision Fund and Reverence Capital Partners, according to a person familiar with the matter. The all-cash deal could value the closely held lender at as much as $850 million, including […]
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Companies

American Express Pays $955m to Renew Global Partnership With IAG

“International Airlines Group (IAG), the owner of British Airways, has inked a multi-year agreement to extend its global partnership with American Express. Under the agreement, American Express agreed to pay IAG Loyalty nearly £750m ($955m) as the latter grapples with a cash crunch amid Covid-19 pandemic. The agreement involves the pre-purchase of Avios points that […]
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Companies

American Express Reports $1.6 Billion in Provisions for Credit Losses

“American Express Co. reported a large drop in second-quarter profit from a year earlier as the credit-card company logged provisions of $1.6 billion to cover potential credit losses. That provision rose from $861 million a year earlier and the increase “primarily reflected the deterioration of the global macroeconomic outlook,” American Express said. The company said […]

On The Wires

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Companies

American Express to Acquire Kabbage

“American Express today announced that it has entered into an agreement to acquire substantially all of Kabbage, a leading financial technology company providing cash flow management solutions to small businesses in the U.S. The transaction represents an important step toward American Express’ goal of being an essential partner to small businesses through a broad range […]
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Companies

American Express and Marriott Bonvoy Introduce Limited-Time Offers Designed to Fuel Local Travel and Experiences

“Today, American Express and Marriott Bonvoy™, Marriott International’s travel program, are announcing rewarding limited-time offers available to the Marriott Bonvoy™ American Express® Cards. As travelers plan to explore locally and take more road trips, these benefits will reward Card Members for purchases at U.S. gas stations, U.S. restaurants and participating Marriott Bonvoy hotels. In addition […]
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Companies

American Express Launches First Automated Accounts Payable Solution: American Express One AP™

“American Express launched American Express One AP™, the company’s first proprietary automated accounts payable (AP) solution that enables U.S. businesses to process supplier payments more easily and efficiently. The new American Express One AP, which is built on the technology acquired as part of the company’s purchase of acompay™ in 2019, offers complete end-to-end payment […]
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Companies

More Financial Freedom: SolarisBank and American Express Cooperate for Innovative Installment Product

“For the first time, members of a personal American Express Card in Germany will be able to use an installment option for card payments of EUR 300 or more. This is made possible thanks to a new cooperation with solarisBank. The technology company with a banking license has developed a new installment product “Splitpay”. This […]
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Companies

WeChat Pay to Support American Express Credit Card

“China’s tech giant Tencent announced on Tuesday that its WeChat Pay will support American Express RMB credit cards, coming soon. China’s central bank on Saturday announced that it had approved an application by American Express’ Chinese venture to conduct bank card clearing operations in the country.”