American Express Increases Speed for Fintechs to Launch Cards on the Amex Network, Powered by i2c

Rhea-AI Summary

American Express (NYSE:AXP) and i2c Inc. have announced a global agreement to enhance fintech capabilities on the Amex network. This collaboration focuses on creating a seamless platform for fintechs to develop innovative payment solutions worldwide. The Amex/i2c platform offers unique benefits, such as Amex Offers and exclusive ticket access, alongside fraud protection. Notable collaborations include new card offerings in Mexico and Puerto Rico, expanding the reach of American Express in North America and beyond, and enhancing its appeal to financial innovators.

Positive

• Collaboration with i2c opens new fintech opportunities on American Express network.
• Access to Amex benefits for fintechs, enhancing customer value.
• Expansion into North America and other countries increases market reach.
• New card offerings in emerging markets like Mexico and Puerto Rico.

Negative

• None.

• New Amex/i2c fintech platform offers financial innovators a simple, seamless, and secure connection to the American Express network.
• Cards issued on the American Express network have access to Amex protections and benefits including Amex Offers, the Resy Dining program, and exclusive access to pre-sale tickets.

NEW YORK--(BUSINESS WIRE)-- American Express (NYSE:AXP) and i2c Inc, a provider of digital payment and banking technology, today announced an expanded global, multi-product agreement that will enable fintechs and financial institutions around the world to develop and scale innovative payments solutions for consumers and businesses on the American Express global payments network. The agreement signals that the American Express network is ‘open for business’ with fintechs by creating a plug-and-play onboarding platform to bring innovative products to market at speed.

The Amex/i2c platform also gives fintechs access to American Express’ unique benefits including Amex Offers, the Resy dining program, and exclusive access to ticket pre-sales, as well as leading protections and fraud mitigation capabilities. With i2c and American Express, fintechs will get access to pre-certified partners, including bank issuing BIN sponsors, making it faster and simpler to bring their payment innovations to market.

“Our collaboration with i2c enables fintechs to tap into the American Express brand, global network, and industry-leading capabilities to offer their customers payments products that are backed by the strength of our global network,” said Mohammed Badi, President, Global Network Services at American Express. “This platform expands our reach to new customers and partners, makes our network even more vibrant, and will allow us to break into new and emerging areas.”

“The appeal of the American Express brand and benefits, paired with i2c’s plug-and-play platform, makes this program a perfect fit for visionary fintechs and financial institutions,” said Amir Wain, CEO of i2c Inc. “Together, we look forward to offering a unique global solution coupled with value-added payment features for end-users, matching the spirit and demand of financial innovators across the globe.”

American Express and i2c’s relationship first started in Latin America and the Caribbean and will now expand into North America and other countries over time. Among the recent fintech collaborations with American Express enabled by i2c are the Keo American Express Card (Mexico) and the Bancrédito Black American Express Card® (Puerto Rico). The Covalto American Express® Credit Card from Credijusto (Mexico) is coming soon.

ABOUT AMERICAN EXPRESS
American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

Key links to products, services and corporate responsibility information: personal cards, business cards, travel services, gift cards, prepaid cards, merchant services, Accertify, Kabbage, Resy, corporate card, business travel, diversity and inclusion, corporate responsibility and Environmental, Social, and Governance reports.

ABOUT I2C INC.
i2c is a global provider of highly configurable payment and banking solutions. Using i2c's proprietary "building block" technology, clients can easily create and manage a comprehensive set of solutions for credit, debit, prepaid, lending and more, quickly and cost-effectively. i2c delivers unparalleled flexibility, agility, security and reliability from a single global SaaS platform. Founded in 2001, and headquartered in Silicon Valley, i2c's next-generation technology supports millions of users in more than 200 countries/territories and across all time zones. For more information, visit www.i2cinc.com and follow us at @i2cinc.

Source: American Express Company

Location: U.S.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220406006101/en/

AMERICAN EXPRESS

Becca Hare Moomjian

becca.hare@aexp.com

I2C

Heather Clifton

media@i2cinc.com

Source: American Express Company

FAQ

What is the new collaboration between American Express and i2c?

American Express and i2c Inc. have formed a global agreement to enable fintechs to develop innovative payment solutions on the Amex network.

How does the Amex/i2c platform benefit fintechs?

The platform provides fintechs access to unique Amex benefits, fraud protection, and a simpler onboarding process for payment innovations.

When was the agreement between American Express and i2c announced?

The agreement was announced on April 6, 2022.

Where will the Amex/i2c platform expand its services?

The platform will expand into North America and potentially other countries over time.

What card offerings are associated with the Amex/i2c collaboration?

Recent offerings include the Keo American Express Card in Mexico and the Bancrédito Black American Express Card in Puerto Rico.