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American Express and Square Join to Announce New Credit Card

Last updated 11/16/2022 by

News
Summary:
American Express, a financial company that offers several high-end business credit cards and other banking solutions, announced today that it is teaming up with Square, the business integration monopoly, to launch the Square Credit Card.
Few businesses operate without Square anymore, as the payment and financial management system quickly became a necessity with the growing number of cashless payments. As another major voice in the financial business sector, American Express teamed up with Square to produce a new credit card designed to integrate with Square’s software and add to Amex’s line of popular credit cards.

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Small businesses have historically struggled to find fair and simple solutions for their credit needs. Square has spent years building a successful lending program to eliminate this barrier for sellers, and we’re uniquely positioned to innovate even further in this space to expand access to new types of credit products,” said Square Banking General Manager Luke Voiles.
While the card will be offered by Celtic Bank and powered by i2c, American Express will offer backing for the new card. And since the Square Credit Card has small business owners in mind, Amex made a perfect match.
American Express increasingly hears from small- to medium-sized business owners that they need a single-point solution, a platform from which they can manage all their payments,” said Dean Henry, executive vice president of global commercial payments at American Express. Thanks to this partnership, small business owners can now track payments, cash flow, and their financials all from the same platform.

Key Takeaways

  • American Express and Square are teaming up to launch the Square Credit Card.
  • The new credit card will integrate directly with business owners’ Square platform to allow cash flow and financial management all from the same place.
  • Though Celtic Bank will offer the card, the Square Credit Card will run on the Amex network.

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About American Express

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 about American Express National Bank and its products by browsing the services it offers.

About Square

Square helps sellers more easily run and grow their businesses with its integrated ecosystem of commerce solutions. Square offers purpose-built software to run complex restaurant, retail, and professional services operations, versatile e-commerce tools, embedded financial services and banking products, buy now, pay later functionality through Afterpay, staff management and payroll capabilities, and much more – all of which work together to save sellers time and effort. Millions of sellers across the globe trust Square to power their business and help them thrive in the economy. Square is part of Block, Inc. (NYSE: SQ), a global technology company with a focus on financial services.

SuperMoney may receive compensation from some or all of the companies featured, and the order of results are influenced by advertising bids, with exception for mortgage and home lending related products. Learn more

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