WebBank Collaborates with American Express to Expand Credit Card Issuance | New

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SALT LAKE CITY–(BUSINESS WIRE)–August 16, 2022–

WebBank today announced an agreement with American Express to become a card issuer and participant in the American Express network. This collaboration enables WebBank to issue credit cards and payment solutions that include the benefits of American Express. American Express has selected WebBank as one of its top issuing banks focused on the fintech industry.

“WebBank is pleased to have a strategic alliance with American Express that expands the product offerings we are able to make available through our strategic partner platforms,” ​​said Jason Lloyd, President and CEO of WebBank. “This is a great example of two industry-leading organizations creating value for and through the wider fintech community.”

“The integration of WebBank into the American Express ecosystem is another step towards empowering fintechs to deliver 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 to expand the brand’s reach and bring new benefits to fintechs and consumers.”

WebBank plans to start issuing Amex cards through fintechs later this year.

About Web Bank

WebBank is a Utah chartered industrial bank headquartered in Salt Lake City, Utah. Since its inception in 1997, WebBank has originated and funded over $155 billion in consumer and commercial credit products. As ” The bank behind the brand ®”, WebBank is a national issuer of consumer and small business credit products through strategic partner platforms (brands), which include retailers, manufacturers, finance companies, software as a service ( SaaS) and financial technology companies (FinTech). The Bank is a leading player in digital lending, driving innovation in financial products through integrated finance with strategic partner platforms. WebBank engages in a full range of banking activities, including consumer and commercial loan products, revolving lines of credit, credit cards, private label card issuance, automatic refinancing and more Again. The Bank provides capital in the form of asset-backed loans and other credit facilities to strategic partner platforms, credit funds and other lenders, with a focus on specialist financial assets. The Bank is also a leading provider of commercial insurance premium finance products through its wholly owned subsidiary National Partners. For more information, please visit www.webbank.com.

ABOUT AMERICAN EXPRESS

American Express is a globally integrated payments company, providing customers with access to products, information and experiences that enrich lives and help businesses succeed. Learn more about americanexpress.com and join us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpressand youtube.com/americanexpress.

Key links to product, service and corporate responsibility information: personal cards, business cards, travel services, gift cards, prepaid cards, merchant services, Certify, Cabbage, Resy, Company card, Business trip, diversity and inclusion, corporate responsibility and Environmental, social and governance reports.

Show source version on businesswire.com:https://www.businesswire.com/news/home/20220816005298/en/

CONTACT: Shannon Hutchings

[email protected]

KEYWORD: UTAH UNITED STATES NORTH AMERICA

SECTOR KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: Web Bank

Copyright BusinessWire 2022.

PUBLISHED: 08/16/2022 09:00 / DISK: 08/16/2022 09:02

http://www.businesswire.com/news/home/20220816005298/en

Copyright BusinessWire 2022.

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