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American Express and Knot Pilot New Feature to Simplify Payments

Author

Slice of Finance Team
10 Sep

Key Highlights:

  • American Express and Knot team up to streamline card-on-file management for select merchants.

  • The pilot allows seamless payment info updates at brands like Bloomingdale’s, Hilton, and Macy’s.

  • Knot’s CardSwitcher™ enables easy card updates without re-entering details.

  • Collaboration between Amex Ventures and Knot accelerates innovation for digital payments.

Source (Business Wire)

Notable Quotes:

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“Our new functionality with Knot is a great example of how collaboration with portfolio companies can lead to meaningful commercial opportunities.”

Matt Sueoka, SVP and Head at Amex Ventures
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“We know Card Members and merchants alike value seamless digital experiences, and we are committed to delivering innovative solutions that make their lives easier.”

Stephanie Schultz, Vice President, at Amex Digital Labs
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“Partnering to power this functionality underscores our mission of building a financially interconnected future for both users and merchants.”

Rory O’Reilly, CEO & Co-Founder at Knot

Our Take:

This collaboration between American Express and Knot demonstrates the growing trend of leveraging fintech innovations to enhance consumer experiences. By integrating Knot’s CardSwitcher™ technology, American Express is addressing a critical pain point in online shopping—friction in payment information updates. This partnership not only streamlines the payment process for cardholders but also boosts conversion rates for merchants. It’s a win-win that showcases the value of fintech partnerships in creating seamless digital commerce experiences.