American Express has formed an expanded multiproduct agreement with digital payments and banking company i2c to develop payment solutions for customers on the Amex network, according to a Thursday (April 7) press release.
“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 release stated.
The companies’ combined platform will give FinTechs access to Amex Offers, the Resy dining program, ticket pre-sales, and protection and fraud mitigation offerings. FinTechs will also get access to pre-certified partners, such as bank issuing BIN sponsors, so they have an easier time bringing their offerings 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 American Express President of Global Network Services Mohammed Badi in the release. “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 partnership comes one day after i2c announced it is working with Chinese tech unicorn PingPong to provide cross-border eCommerce payment tools for business owners.
Read more: i2c, PingPong Team up on Cross-Border eCommerce
That partnership will see PingPong use i2c’s Software-as-a-Service (SaaS) platform to expand its commercial credit services to new parts of the world, particularly Europe and Hong Kong SAR. The companies said this offering lets merchants access instant payouts and reduced transaction fees.
In October, American Express and i2c began working together in Latin America and the Caribbean on projects such as the Keo American Express Card (Mexico) and the Bancrédito Black American Express Card in Puerto Rico, and the soon-to-launch Covalto American Express Credit Card from Credijusto in Mexico. The companies will now expand to the U.S., with other countries to follow.
See more: i2c, Bancrédito Join Forces to Debut Amex Black Card for Puerto Rico
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