Payments News

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Companies

AmEx Deepens Its Ties in China Via an Acquiring Agreement With Leshua Technology

“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 […]
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Companies

American Express Says Travel, Entertainment Spending Improving

“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 […]
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Companies

Amex Launches Digital Receipts to Reduce Buyer Confusion

“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 […]
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Companies

American Express Acknowledges DOJ Review of Card Sales

“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 […]
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Companies

WSJ News Exclusive | Federal Investigators Probing AmEx Card Sales Practices

“Federal investigators are probing business-card sales practices at American Express Co., according to people familiar with the matter. The inspectors general offices of the Treasury Department, Federal Deposit Insurance Corp. and Federal Reserve are investigating whether AmEx used aggressive and misleading sales tactics to sell cards to business owners and whether customers were harmed, the […]
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Companies

American Express Dives Deeper Into Crypto With Trading Platform Investment

“American Express Co. ’s venture arm has invested in the FalconX cryptocurrency trading platform, another sign that large financial services providers are tiptoeing into the digital-asset sphere. The credit-card provider didn’t disclose the amount invested in the San Mateo, California-based startup, which raised $17 million in May from the likes of Accel, Coinbase Ventures and […]

On The Wires

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Companies

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 […]
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Companies

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 […]
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Companies

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 […]