Cardless, a credit card FinTech, has reached an agreement with American Express that will allow a number of America’s most well-known businesses to create digital-first cards on the Cardless platform.
In a news release, the New York-based firm announced the agreement, adding that it coincides with a “significant” investment from Amex Ventures, American Express’ strategic investment arm.
Cardless also stated that it will use the funds raised from Amex Ventures and other venture capitalists to grow its product offerings, including investigating new prospects, innovations, and collaborations inside the American Express network.
Customers will have access to “special incentives from their favorite brands as well as popular American Express advantages, such as Amex Offers (for things like shopping, travel, dining services, entertainment, and so on) and Global Dining Access by Resy,” according to the statement.
Cardless, which was founded in 2019, claims that its cards each offer a variety of features created with digital native clients in mind, including access and security.
All Cardless cards include various features tailored to digital-native users, both in terms of security and convenience. With their smartphone, new users may apply for a Cardless card. Once authorized, the virtual card will appear in their mobile wallet in seconds, followed by a real card a few days later. Customers may manage their accounts through the Cardless app, which provides instant access to features such as incentives, purchase monitoring, and bill payment.
“Leading businesses want to provide their consumers a more customized experience and interact with them more intimately, and our collaboration with Cardless enables that by providing their customers with access to American Express perks and protections,” Stredwick added.
This announcement comes only three days after American Express announced earnings numbers that indicated a continuous growth in credit utilization, with younger consumers showing particularly tenacity while purchasing online and in shops.
