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In an effort to enable fintechs to leverage its brand, network capabilities, and cardholder perks in North America and other regions, American Express Co. on Friday announced it is expanding its working relationship with payment and banking solutions provider i2c Inc.
The expanded agreement builds upon AmEx’s working relationship with i2c in Latin America and the Caribbean. I2c’s platform allows fintechs to develop a variety of payment products, including credit, debit, and prepaid cards, as well as lending services.
Through its collaboration with i2c, American Express will be able to offer fintechs cardholder benefits such as Amex Offers, the Resy dining program, and exclusive access to ticket pre-sales, as well as fraud-mitigation capabilities.
In addition, fintechs will get access to pre-certified partners, including bank-issuing BIN (bank identification number) sponsors, making it faster and simpler to bring their products to market.
“Our collaboration with i2c enables fintechs to tap into the American Express brand, global network, and … capabilities to offer their customers payments products that are backed by the strength of our global network,” Mohammed Badi, president, global network services for AmEx, says in a prepared statement. “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.”
Products generated by fintechs through i2c’s collaboration with AmEx in Latin America and the Caribbean include the Keo American Express Card in Mexico and the Bancrédito Black American Express Card in Puerto Rico.
In related news, AmEx also announced Friday that consumer, small business, and corporate card members in the United States who are enrolled in its Membership Rewards program can apply their rewards points towards a donation to the PayPal Giving Fund to support select charities providing humanitarian relief in Ukraine, which is under attack from Russia, and affected parts of Europe.
As part of the promotion, which runs through June 15, AmEx will match the dollar value of cardholder contributions made using Membership Rewards. Eligible charities include the International Rescue Committee, the International Medical Corps, the American Red Cross, UNICEF, Save the Children, and USA for UNHCR.
The promotion builds on AmEx’s prior humanitarian relief efforts in Ukraine, including a $1-million donation to humanitarian organizations supporting relief efforts in Ukraine and parts of Europe. The company says it has also matched donations from colleagues globally through the American Express Match program, and a made 1 million hotel-room nights available across Europe to support refugees and first responders in partnership with hotel chain Hilton Worldwide Holdings Inc.
“Children in Ukraine are in desperate need of safety, health care, safe water, nutrition, and protection. UNICEF can’t do this work alone, and these donations will help us reach the most vulnerable,” Renée Cutting, chief philanthropy officer at UNICEF USA, says in a prepared statement.
