American Express expands partnership with Worldpay

As a longstanding partner for American Express, Worldpay’s new move with the company focuses on providing SMEs with an additional option for accepting Amex Card payments. By including American Express as a payment choice, SMEs are set to be able to increase the capture of spending, while also improving the checkout experience. In addition, the partnership intends to offer benefits to Worldpay and its merchants, including a single statement for reconciling transactions, one settlement process, a simplified onboarding journey, and a single servicing contact.

According to American Express’ representatives, considering that the company’s Cardmember base continues to expand in the UK, it has been working on increasing its merchant coverage. The strategic agreement with Worldpay is set to support the company’s progress, allowing it to assist SMEs across the region in welcoming Amex Cardmembers who, on average, spend 3.9 times more annually and 3.2 times more frequently than non-Cardmembers. Moreover, officials from Worldpay underlined that the collaboration with American Express is set to deliver more opportunities for its merchant base located in the UK and Ireland to benefit from the spending capabilities of Amex Cardmembers. Also, by enabling merchants to expand their choice of payment options, Worldpay aims to better assist them in serving their customers and expanding their business.

In addition to the current announcement, at the end of February 2024, American Express introduced Plan It in the UK, enabling credit Cardmembers to pay off purchases in instalments. Through the capabilities of the product, credit Cardmembers were allowed to place a transaction or an amount from their recent statement into a 3,6, or 12-month instalment plan, with the service having a fixed monthly fee displayed during setup and no interest for the balance in the plan. The newly provided plans could be set up in the American Express App or the Cardmember’s online account, with them being automatically included in the monthly minimum due payment once established.