American Express

SEO Steve Squeri told analysts its platinum card upgrade has gotten off to a strong start, and added he's not noticing signs of consumer weakness due to recent political battles.

Marrs runs Amex's second largest business by revenue and card member spending.

The card brand's Pismo platform will support banking services for the Auckland-based fintech Dosh; Tether collaborates with a blockchain firm to expand USDT. That and more in American Banker's global payments and fintech roundup.

Block, which maintains its original Square brand for its business-focused products, is offering easier access to cash advances for small businesses. Also, Amex and Mastercard expand their virtual card strategy; and more in the American Banker global payments and fintech roundup.

With the big banks honing in on Amex's high-end card turf, Steve Squeri said his company's past success will drive the future.

American Express teased updates coming later this year to its travel-focused Platinum credit cards.

CEO Stephen Squeri said current strategy will continue, adding it would look to adjust expenses in areas such as marketing if there's an economic downturn.

Investors will be looking for what bank leaders have to say about the potential impact of President Donald Trump's tariff policies.

Visa and American Express are both reportedly trying to lure Apple's lucrative credit businesses away from Mastercard. But the battle over processing rights is just as much about accessing the technology company's digital wallet as it is about boosting transactions.

Many businesses are slow to adopt payment automation. Amex shared new B2B research with American Banker, and execs R.J. Ancona and Widad Chaoui discussed the firm's strategy to lure corporates to digital payments in an interview at the recent Payments Forum conference and over email.

Steve Squeri told analysts his firm is prepared to compete with small-business technology providers like Ramp and Brex. He also weighed in on the potential payments behemoth that would result from Capital One's purchase of Discover.

The card lender took full control of Swisscard from UBS; the Financial Conduct Authority is bringing installment lending regulations in line with other consumer financial products; and more payments news from around the world.

The credit card lender's earnings beat analyst expectations, but it also reported weakness in spending and higher late payments. Amex boss Steve Squeri said consumers are "resilient" and credit remains strong.

The legendary investor has been reducing his 13-year-old stake in BofA. It's the most recent instance of Buffett profiting from a big bet on a troubled financial institution.

Marrs leads the company's second-largest business by revenue that accounts for about 25% of American Express' total revenue.

The financial institution has focused on boosting revenue from a segment that has struggled due to the impacts of the pandemic and high inflation.

Amex is working with Worldpay to reach businesses in the U.K., Western Union has resumed remittances to Cuba after shutting down that corridor in 2020, and more.

Mastercard, Visa and American Express are reportedly preparing to add merchant codes to identify firearm purchases, forcing the networks to straddle a hot-button issue in an election year.

In this month's roundup of popular tech news: SEC responds to successful hack on its X account, community banks get closer to fintech hubs, the Office of the Comptroller of the Currency weighs in on Blue Ridge Bancshares and more.

Steve Squeri said flatness in the segment is an industry-wide trend, and the company is dedicated to the segment.