American Express (Ecommerce payments+Open Banking)

American Express (Ecommerce payments+Open Banking)
Description

American Express used Open Banking to build its 'Pay with Bank Transfer' product. Allowing merchants to offer customers the option of paying for online purchases directly from their bank accounts.

The company also allows for confirmation of funds in Amex cards by third parties.

Phase
Live
Industry
Financial services
Niche
Credit payment card products, travel-related services, merchant services