American Express and Worldpay have recently announced a partnership aimed at improving the payment experience for small businesses in the UK by increasing the acceptance of American Express cards.
This collaboration underscores American Express’s strategy to expand its market presence in the UK and enhance the reach of its services to Cardmembers.
The partnership is particularly significant given the marked increase in American Express card acceptance across the UK, with a 46% rise in the number of locations over the past three years.
Worldpay, a key partner of American Express for many years, will now enable small businesses to accept American Express payments more easily.
This initiative is expected to help small businesses attract more customers by facilitating higher spending and streamlining payment processes.
Dan Edelman, Vice President and UK General Manager, Merchant Services at American Express, emphasized the impact of the agreement: “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.”
The partnership outlines several benefits for Worldpay and its merchants, including improved operational efficiencies such as easier transaction reconciliation, standardized settlement procedures, streamlined onboarding processes, and a centralized contact point for service inquiries.
The global reach of American Express has also been expanding, with the number of locations accepting the card more than tripling since 2017.
This global trend supports the new partnership’s aim to enhance accessibility and convenience for Cardmembers internationally.
Chris Wood, General Manager SMB International and US Direct at Worldpay, shared his perspective on the collaboration: “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 partnership between American Express and Worldpay is set to create significant opportunities for small businesses in the UK, enabling them to leverage the spending habits of American Express Cardmembers, thereby potentially boosting their sales and customer satisfaction.