US-based fintech company Skipify has partnered with Amex to improve the checkout experiences of users as well as merchant approval rates. Through this partnership, Skipify will work with American Express to connect Amex US Consumer Members' Cards seamlessly into the checkout experience.

Specifically, Skipify’s technology will integrate with American Express to identify select Amex customers via their email addresses, allowing them to automatically link their eligible Amex Cards to check out with participating merchants. In essence, the solution removes the need for consumers to manually enter their payment and billing details, which can potentially result in improved merchant approval and conversion rates. Named Card Linking, this project represents one of Skipify's latest product launches as it strives to improve the Connected Checkout space.

According to the company press release, Skipify will engage in additional partnerships with other financial institutions later in 2023. How does the system work? Skipify works with financial institutions to directly pull and store eligible consumer payment and billing address information after securely authenticating the consumer at checkout. Merchants can benefit from this approach by achieving less cart abandonment and higher authorization rates, regardless of channel, platform, or processor.

Amex Ventures, which is the venture capital arm of American Express, invested in Skipify in 2021. In the official press release, Skipify officials talked about this new partnership and emphasised the company’s ability to scale past millions of monthly checkouts on its platform. In this context, they launched their Card Linking solution with American Express to help Skipify merchants.

Amex officials also talked about Card Linking and highlighted its potential to bring innovation and customer value. They also revealed their plans to deepen their relationship with Skipify and their shared customers by making the digital shopping experience more secure and convenient. Other developments from Amex In June 2023, American Express collaborated with data network Plaid for an API-based integration set to offer new digital banking options for customers and better account security.

The customer-permissioned data-sharing agreement aims to increase digital finance options for customers, with a multitude of American Express customers being enabled to connect with increased safety to Plaid’s more than 8,000 apps and services across the digital banking ecosystem, without being required to share their American Express password with a third party. This is believed to be important as US-based consumers use, on average, three fintech apps to manage their finances. .