Amex spruces up cardholder perks with inaugural Membership Week

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June 12, 2021 American Express plans inaugural Membership Week as card volume grows. American Express announced its first-ever Membership Week from June 14 to 18, with experiences and promotions in dining, retail, entertainment, wellness, and travel. Membership Week can drive volume growth for Amex as US consumers warm up to spending. Limited-time promotions are set to become a popular tactic to increase card spending during pandemic recovery. The event also sets Amex apart from other issuers, paving the way for increased customer engagement, especially now that most of the US is largely open and consumers are more eager to participate in social events and more prone to spend with their cards. Insider Intelligence's Adriana Nunez has the full story. BRIEFING HIGHLIGHTS Apple shakes up the digital wallet space with new ID feature Apple's forthcoming mobile operating system will let Apple devices store driver's licenses and state IDs for participating states to its Wallet app. Read More → Square considers developing innovative cryptocurrency wallet device A tweet from Jack Dorsey outlined Square's ambitions to launch a wallet device that'd reduce reliance on third-party crypto custodians. Read More → Amazon ignites search for bidders to take on cobranded card portfolio Synchrony and American Express are among the issuers interested in taking over the etailer's cobranded card business. Read More → Payment behaviors change, Etsy buys Depop, and homeowner spending shifts On this episode of Insider Intelligence's podcast, 'Behind the Numbers,' we discuss whether a digital bank can become a one-stop shop, where homeowners are spending the most money, and why Etsy bought Depop. Read More → Appeal overturns New York's suit over OCC fintech charter Appeals court overturned ruling that let New York's DFS challenge the Office of the Comptroller of the Currency's special-purpose charter. Read More → Chime is the No. 1 neobank in the US Chime will have 13.1 million US account holders this year, up 30.7% over last year. By 2025, it's expected to reach 22.7 million account holders. Read More → UK regulator extends anti-money laundering deadline for crypto trading The Financial Conduct Authority extended the Temporary Registrations Regime for UK fintechs from July 9, 2021, to March 31, 2022. Read More → US regional bank M&A wave marches on with Tennessee deals Simmons First National Corporation wants to buy smaller banks in Tennessee for a quick path to an expanded branch footprint and larger deposit base. Read More → Affirm no longer dominates the US buy now, pay later market The US buy now, pay later (BNPL) market, which Affirm overwhelmingly dominated as recently as 2018, has now given way to several other providers. Read More → Clover Health joins meme stock club Clover Health's share price surged 86% earlier this week after Reddit users once again coordinated to inflate specific stock prices. Read More → RESEARCH IN FOCUS The US Wealth Management Ecosystem This report details the drivers of digital transformation within wealth management and how incumbent wealth managers can overhaul their front, middle, and back offices to upgrade their offerings and meet customer demands. Get the full report → Blockchain in Payments Insider Intelligence presents a balanced look at the blockchain payment use cases with the highest maturity. The report ranks the three main use cases according to specific benchmarking criteria and examines the benefits and obstacles each faces in achieving wide-scale disruption. Get the full report → US Mobile Payments Forecast 2021 In this report, we present our eMarketer forecasts for growth in the mobile proximity and mobile P2P payments space, as well as assess top players in each area. Based on core data, the report identifies the driving forces behind each sector's growth for both payers and payees. Get the full report → BECOME A SUBSCRIBER Did you know the Daily is just a preview of everything Insider Intelligence has to offer? Our Briefing subscriptions deliver analysis on the biggest trends and decisions shaping the future of a specific industry. Stay on top and subscribe today to receive: A cornerstone industry report Daily Morning newsletters Opportunities to join the conversation Get Started Today → FOLLOW US Email sent to: nguyenvu1187.love5@blogger.com Manage your email preferences  |  Unsubscribe  |  Terms of Use  |  Privacy Policy © 2021 Insider Intelligence. 11 Times Square, 14th FL, New York, NY 10036