FinTech News

Cardless Partnering with American Express for Future Cards

A growing digital credit card disruptor and one of the top card issuers in the United States have announced a team up. This week, the FinTech startup Cardless revealed that it had reached a new agreement with American Express. Under this partnership, brands will be able to launch digital-first credit card offerings that utilize the “benefits, offers, and security” of the Amex network. Additionally, while financial figures were not disclosed, Amex Ventures announced that it has made an investment in Cardless, which follows the startup’s $50 million Series B last summer.

In regards to those “benefits and offers,” Cardless notes that cardholders with American Express-network cards will have access to Amex Offers. These typically brand-specific offers allow card members to earn additional points or statement credits on their purchases. Additionally, Cardless customers will be able to utilize the Global Dining Access by Resy platform among other perks.

Previously, Cardless has partnered with several professional sports teams including the Boston Celtics, Miami Marlins, Machester United, and others to release fan-centric co-branded options. More recently, the company unveiled its first travel cards in partnership with LATAM Airlines. It’s currently unclear whether these previously-issued cards — which operate on the Mastercard network — will eventually migrate to Amex.

In a press release announcing the partnership with Amex, Cardless’s president and co-founder Michael Spelfogel said, “American Express is recognized for having one of the largest and most active credit card networks in the world, with the most loyal cardholders. We couldn’t be more excited to combine Cardless’ ability to launch cards seamlessly with the valuable benefits that consumers expect from the American Express network.”

Amex’s SVP and GM of Global Network Services North America William Stredwick added, “Cardless’ digital-first mission and customer-first mindset make our brands a strong match. Leading brands want to give their customers a more personalized experience and engage with them more deeply, and our relationship with Cardless makes that possible by offering their customers access to benefits and protections from American Express.”

Over the past few years, Cardless has proven to be one of the most interesting FinTechs as its regularly added new options to its roster. Now, with this Amex partnership and investment, it could further expand its offerings in a number of ways. At this time, there isn’t much evidence of Amex’s impact on Cardless’s site, leading to questions about how the deal will play out in the short term. However, as the partnership begins to bear fruit, it will be fascinating to see how Cardless continues to grow.

Other Articles by Jonathan Dyer