American Express

Digital TransactionsSquare / MarqetaHigh impactIndependent report

Digital Transactions reports that Square adopted Marqeta for its existing American Express-network business credit card, as part of consolidating debit, prepaid and credit programs on one processor. The card launched in 2023; this is a processing-platform milestone, not a newly invented card.

The PaypersAmerican ExpressWatchIndependent report

The Paypers reports that American Express published its Intent Intelligence framework through the ACE Developer Kit. It describes capturing and authenticating customer purchase instructions before an AI agent transacts, then linking an Intent ID and Proof of Intent Token to a scoped payment credential and subsequent checks.

Office of the Comptroller of the CurrencyAmerican Express National Bank / OCCHigh impactIndependent report

The OCC announced a cease-and-desist order and a USD 350 million civil money penalty against American Express National Bank on October 8. The regulator found that risk assessments insufficiently covered its credit and charge card business, alongside deficiencies in resources, controls, testing and customer due diligence. The OCC says the bank failed to timely identify, evaluate and adequately report approximately USD 13 billion of suspected trade-based money laundering activity over the past decade.