Cardless to Launch Co-Branded Credit Cards on the American Express Network

Amex Ventures invests in Cardless, following the company's $40 million Series B round

NEW YORK, July 25, 2022 /PRNewswire/ -- Cardless, a financial technology firm, today announced a new agreement with American Express. The agreement empowers some of the country's most celebrated brands – including travel providers and retailers – to seamlessly launch digital-first cards leveraging the Cardless platform, backed by benefits, offers, and security of the American Express network. The company also received a significant investment from Amex Ventures, American Express' strategic investment group.

"American Express is recognized for having one of the largest and most active credit card networks in the world, with the most loyal cardholders," said Michael Spelfogel, President and Co-Founder of Cardless. "We couldn't be more excited to combine Cardless' ability to launch cards seamlessly with the valuable benefits that consumers expect from the American Express network."

Customers will enjoy unique rewards from their favorite brands and access some of American Express' sought-after benefits, including Amex Offers (for shopping, travel, dining services, entertainment, etc.) and Global Dining Access by Resy, among others.

"Cardless' digital-first mission and customer-first mindset make our brands a strong match," said William Stredwick, Senior Vice President and General Manager, Global Network Services North America, American Express. "Leading brands want to give their customers a more personalized experience and engage with them more deeply, and our relationship with Cardless makes that possible by offering their customers access to benefits and protections from American Express."

Cardless has successfully completed a series of venture capital funding. Cardless is utilizing its capital investments from Amex Ventures and other VCs to continue to grow and expand the company's product offerings, including exploring further opportunities, innovations, and partnerships within the American Express network.

All Cardless cards offer several features designed for digital-native consumers, both in terms of security and easy access. New users will easily be able to apply for a Cardless card using their smartphone, and, after approval, the virtual card will be delivered to their mobile wallet in seconds, with a physical card arriving a few days later. Customers manage their accounts directly through the Cardless mobile app, with instant access to rewards, purchase tracking, bill payment and more.

Cardless, Inc. is a credit card company based in San Francisco, CA. Founded in 2019 by Stanford graduates Michael Spelfogel and Scott Kazmierowicz, Cardless is on the cutting edge of cobrand credit card product development. Cardless has raised over $50M in equity funding from investors including Activant Capital, Greycroft, Accomplice, Pear VC, the ownership of Boston Celtics and Phoenix Suns, and the Founders of Plaid, Bonobos, Flatiron Health, and 100 Thieves. Cards issued by First Electronic Bank, Member FDIC.

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

Key links to products, services and corporate responsibility information: personal cards, business cards, travel services, gift cards, prepaid cards, merchant services, Accertify, Kabbage, Resy, corporate card, business travel, diversity and inclusion, corporate responsibility and Environmental, Social, and Governance reports.

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SOURCE Cardless