American Express

The card giant could pay $850 million in cash for the online small-business lender, according to a person familiar with the talks.

Facing Wall Street analysts for the first time after the murder of George Floyd, CEOs of major payment companies joined other financial services firms in promising to improve fairness and opportunities for Black people and other underrepresented groups.

The major card networks have heavily invested in broader services as transaction processing loses its luster, a strategy that’s provided a ray of hope as retail and travel industries remain sidelined.

Three months ago, Stephen Squeri, the chairman and CEO of American Express, declared a global "economic free fall" due to the coronavirus. Its second-quarter earnings show how far a fall it has been.

British Airways owner IAG SA renewed an air-miles deal with credit-card giant American Express Co., swelling the group’s coffers as the coronavirus crisis weighs on travel demand.

One of the many fraud risks coronavirus triggered is criminals leveraging stolen personal data to open bogus accounts, along with siphoning off credit card rewards, loyalty points and miles from consumers idled during pandemic-related lockdowns.

At a time when many have shifted to digital payments to weather the coronavirus pandemic, the four main U.S. credit card brands are aggressively expanding their own take on digital commerce.

American Express Global Business Travel has developed a new service enabling small businesses to manage travel, office purchases and cash flow on a single platform.

Amex is offering cash rewards on a global scale for customers who shop at small businesses that are trying to recover from coronavirus lockdowns. The card brand also pledged $10 million to support Black-owned small businesses over the next four years.

American Express has named Glenda McNeal, honored by PaymentsSource last year as one of the Most Influential Women in Payments, to its executive committee, marking the first time a Black woman has held that role.