Following this announcement, customers will benefit from the same value they would if they were redeeming the money as a statement credit, so one Reward Dollar equals USD 1 on Amazon.com or the Amazon app.
In order to use this new benefit, customers will need to link an eligible American Express card to their Amazon account. At checkout, they will need to select `Reward Dollars` as the preferred payment option and leverage them to cover all or a portion of the total purchase. Once the order is ready, Reward Dollars which were applied to it are set to be converted to dollars and to be deducted from the checkout’s total amount.
At the same time, there is a total of eight American Express cash-back rewards cards that are enabled to redeem Rewards Dollars at Amazon checkout, from the same value of money as redeeming a statement credit.
American Express announced multiple collaborations and developments in the last couple of months, covering several different geographic areas around the world.
At the beginning of November 2023, Nuvei announced its partnership with American Express in order to allow UK merchants and traders to integrate the Pay with Bank Transfer service, as well as use its Open Banking-enabled payment method. Following this collaboration, Nuvei was set to be the first acquirer authorised to promote and sell Pay with Bank Transfer’s Open Banking-enable payment option. Clients and users were given the possibility to complete transactions and payments in a secure and efficient manner, directly from their bank accounts. The process took place without the need to enter card details or to complete other additional authentication checks.
At the same time, merchants and businesses were enabled to use the solution in order to deliver a frictionless payment, where the funds were reconciled instantly with reduced processing fees. Nuvei was also expected to promote the Pay with Bank Transfer service for both existing and prospective UK businesses and firms. This was set to keep an eye on the integration of the Open Banking methods as well.
Earlier in October 2023, American Express announced its plans to pilot facial and fingerprint recognition technologies for customer authentication at online checkouts in the region of the US. The new biometric feature was integrated into the firm’s SafeKey 3-D Secure authentication tool in order to further improve the overall security and protection of users during online payments.
According to the press release published at the time, the pilot programme was set to commerce with a select group of clients from the US, who were expected to become eligible after completing a security validation process during the SafeKey checkout procedure. In addition, they needed to use a device and browser that supported the facial and fingerprint recognition features.
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