American Express and Worldpay have announced a new
collaboration aimed at facilitating smoother transactions for small businesses,
particularly in welcoming American Express Cardmembers. This agreement highlights
American Express’s initiative to strengthen its presence in the UK market and
broaden the accessibility of its Cardmember services.

Expanding Small Business Access to Card Payments

Over the past three years, the UK has witnessed a
substantial surge in the number of locations accepting American Express cards,
marking a 46% increase. Worldpay, a longstanding partner of American Express,
will now provide small businesses with an additional avenue to accept Amex Card
payments. This move is anticipated to allow small businesses to capture more
consumer spending while optimizing their checkout procedures.

Dan Edelman, Vice President and UK General Manager, Merchant
Services at American Express, said: “As our Cardmember base continues to grow
in the UK, we’ve been making great strides in expanding our merchant coverage.
This new strategic agreement will help power our progress, meaning thousands of
additional small businesses across the country can benefit from welcoming Amex
Cardmembers who, on average, spend 3.9 times more annually and 3.2 times more
frequently than non-Cardmembers.”

New Agreement Enhances Operational Efficiency

Per the terms of the newly established agreement, both
Worldpay and its associated merchants are set to enjoy operational
efficiencies, including simplified transaction reconciliation, a standardized
settlement procedure, an uncomplicated onboarding process, and a centralized
point of contact for servicing queries.

.@AmericanExpress has expanded its #partnership with Worldpay to provide additional #payment capabilities for #SMEs.💸 Curious? Read The Paypers: https://t.co/iNAYBijLdf #thepaypers #paymentsnews #financialnews #merchants #expansion #paymentmethods #paymentoptions pic.twitter.com/bTD9eGfUpR

— The Paypers (@ThePaypers) May 13, 2024

Globally, the accessibility of American Express has
experienced an upsurge, with the number of accepting locations more than
tripling since 2017.

Chris Wood, General Manager SMB International and US Direct,
Worldpay, said: “Working in partnership with American Express, we’re pleased to
be opening up more opportunities for our base of merchants in the UK and
Ireland to benefit from the spending power of loyal Amex Cardmembers. Consumers
expect to pay the way they want to. By enabling our merchants to expand their
choice of payments options more seamlessly, we’re helping them serve their
customers better.”

This article was written by Tareq Sikder at www.financemagnates.com.

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