Market-leading payment innovation provides consumers and small business Card Members with a faster and simpler way to pay their American Express statement

SYDNEY [Australia] 23 March 2023: In a market-leading move, American Express in partnership with payments provider Cuscal, today announces the launch of the first card bill PayID service in Australia on the New Payments Platform (NPP). American Express Card PayID gives consumer and small business Card Members a faster, simpler and more secure way to repay charges on their American Express Card, directly from their bank account.

Adam Roberts, Vice President, Emerging Products and Partnerships at American Express said: “American Express Card PayID enables our consumer and small business American Express Card Members to maximise their payment terms and increase their spending power through repayments that are reflected on their accounts in less than a minute. This market-first innovation is possible as a result of the unprecedented industry collaboration that has led to the creation of the New Payments Platform and through our partnership with Cuscal.”

Benefits of American Express Card PayID include:

• Greater spending power as credit is freed up in less than a minute after making a payment, enabling consumers and small businesses to manage their cashflow more effectively.
• Greater peace of mind as payment alerts signal when a payment has been received from a user’s bank account.
• Enhanced security as a confirmation step is required before payment is made to verify users are paying American Express.

The NPP is managed by Australian Payments Plus (AP+), Australia’s domestic payments organisation. Katrina Stuart, General Manager, Business Payments, AP+ said: “We’re thrilled to see the American Express and Cuscal partnership drive innovation using the NPP to deliver clear benefits to consumers and small businesses. It’s this type of strategic and creative thinking that the NPP and PayID® were designed to enable and will help ensure Australia is at the forefront of a world class payments system.”

American Express has partnered with Cuscal and connected to their APIs, which will allow American Express Card Members to create a unique PayID that they can save as a payee in their bank’s digital banking channel. This means that when Card Members make a payment from their bank to their PayID it is routed in real time to their American Express Card account via Cuscal, creating an instant and seamless payment and a better customer experience.

Bianca Bates, Chief Client Officer and Deputy CEO, Cuscal said, “We are really pleased to be working with American Express who were looking for innovative ways to leverage Cuscal’s capabilities that have been developed to support all types of bank and non-bank financial institutions and payment-centric organisations.”

American Express Card PayID is the latest innovation from American Express to help create a seamless and secure digital customer experience for its Card Members.

Ends

For more information contact:
American Express

Jane Drew – 0416 137 335 or jane.e.drew@aexp.com

Dani Harris - 0431 040 336 or dani.harris@aexp.com

Notes to editors:

How to make a payment via American Express PayID

1.              Register for Online Services - Register for Online Services and set up your alerts.

2.              Active Amex Card PayID - Activate your unique American Express Card PayID at amex.com.au/activatepayid.

3.               Pay your American Express Card bill

a)              Log in to your mobile or internet banking

b)              Choose ‘email’ as the PayID payment type

c)              Enter your unique American Express Card PayID

d)              Follow the prompts to make fast, secure payments 24/7 even on public holidays and weekends

Find out more about American Express Card PayID by watching this video.

American Express Card PayID Terms and Conditions

·                Additional, supplementary, or corporate Cards are not eligible for American Express PayID at this time.

·                Available credit is updated immediately once the payment has been received

·                Payments appear on the customer’s online statement under Card Transactions within 24 hours

·                Card Members can make as many American Express Card PayID payments as they choose

·                American Express does not have a limit for PayID payments, provided there are sufficient funds in the Card Member’s bank account and subject to bank-defined limits.

·                Different banks may apply daily transaction limits or hold a payment for additional security checks when transferred for the first time. Contact your relevant financial institution for further details.

®PayID is registered trademark of NPP Australia Ltd

About American Express

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success.

Learn more at americanexpress.com.au and connect with us on facebook.com/americanexpressaustralia, instagram.com/amexau, linkedin.com/company/american-express, twitter.com/AmexAU, and youtube.com/americanexpressau.

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About Cuscal Limited (Cuscal)

For more than 50 years, Cuscal has championed competition in banking and payments in Australia by providing our clients with innovative and reliable payment solutions.

Learn more at https://www.cuscalpayments.com.au