WebBank announced today an agreement with American Express to become a card issuer and participant in the American Express network.
The collaboration allows WebBank to issue credit card and payment solutions that include American Express benefits. American Express selected WebBank as one of its key issuing banks focused on the fintech industry.
“WebBank is pleased to have a strategic alliance with American Express that broadens the product offerings that we’re able to make available through our strategic partner platforms,” said Jason Lloyd, President & CEO of WebBank. “It’s a great example of two industry leading organizations creating value for and through the broader fintech community.”
“Integrating WebBank into the American Express ecosystem is another step toward empowering fintechs to offer payment innovations on the Amex network,” said William Stredwick, Senior Vice President and General Manager, Global Network Services North America, American Express. “We look forward to working closely with WebBank to continue expanding the reach of the brand and bringing new benefits to fintechs and consumers.”
WebBank plans to begin issuing Amex cards through fintechs later this year.