# American Express competitors: and the alternatives

Source: https://www.bankingnewsai.com/banks/american-express/competitors
Last updated: Oct 19, 2026

*Part of the [American Express AI strategy profile](https://www.bankingnewsai.com/banks/american-express). Peer group: Capital One, JPMorgan Chase, Citigroup, Synchrony Financial, Bank of America, Wells Fargo, Bread Financial Holdings, Barclays US Consumer Bank, U.S. Bancorp.*

## Who are American Express's competitors, and what are the alternatives?

American Express competes as issuer, network and lender at once, and its 2025 10-K names rivals in each. As a card issuer it faces 'intense competition in the premium space and for cobrand relationships': JPMorgan's Sapphire Reserve ended Amex's dominance of premium cards in 2016 (Payments Dive), the two have traded upgrades and lounge openings since, and Citi's Strata Elite and Robinhood's Platinum card (March 2026) joined the contest. For cobrand partners, Capital One's and Synchrony's 10-Ks list Amex among their rivals; Delta alone is about 13% of Amex's billed business. As a network it is the fourth largest by purchase volume, behind Visa, China UnionPay and Mastercard, and both Visa's and Mastercard's 10-Ks name Amex as a competitor; Discover and Diners Club now belong to Capital One. In business spending, about 41% of Amex's billed business, it meets JPMorgan, Capital One and fintechs such as Ramp and Brex. Non-banks are the real rival in two places: wallets and platforms (the 10-K names PayPal, Alipay and Shop Pay) and point-of-sale credit, where Klarna is the highest-rated BNPL provider in J.D. Power's 2025 study. The 10-K adds agentic commerce: AI agents that transact for users could disintermediate Amex from its customers. ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm), [Payments Dive](https://www.paymentsdive.com/news/jpmorgan-amex-flash-new-cards/751138/), [CNBC](https://www.cnbc.com/2026/07/03/amex-chase-credit-card-lounges.html), [Payments Dive](https://www.paymentsdive.com/news/robinhood-takes-on-premium-card-issuers-amex-platinum-chase-travel/814761/), [Capital One via SEC EDGAR](https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm), [Synchrony Financial (SEC filing)](https://www.sec.gov/Archives/edgar/data/1601712/000160171226000006/syf-20251231.htm), [U.S. Securities and Exchange Commission (EDGAR)](https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm), [U.S. Securities and Exchange Commission (EDGAR)](https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm), [Payments Dive](https://www.paymentsdive.com/news/amex-floats-first-new-business-card-in-7-years/815618/), [Payments Dive](https://www.paymentsdive.com/news/gen-z-uses-bnpl-more-than-credit-cards-survey-shows/741139/))

## What does Amex say about its competition?

"We compete in the global payments industry with networks, issuers, acquirers and other payment service providers and methods of payment, including paper-based transactions (e.g., cash and checks) and electronic transfers (e.g., wire transfers and Automated Clearing House (ACH)), as well as evolving and growing alternative mechanisms, systems and products that leverage new technologies, business models and customer relationships to create payment, financing or banking solutions. [...] As a card issuer, we compete with financial institutions that issue general-purpose credit and debit cards, as well as businesses that issue private label cards, operate mobile wallets, provide payment services or extend credit. We face intense competition in the premium space and for cobrand relationships, as both card issuer and network competitors have targeted high-spending customers and key business partners with attractive value propositions." ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm))

"Our global card network competes in the global payments industry with other card networks, including, among others, Visa, China UnionPay, Mastercard, JCB, Discover and Diners Club International (the last two of which are owned by Capital One). We are the fourth largest general-purpose card network globally based on purchase volume, behind Visa, China UnionPay and Mastercard. In addition to such networks, we compete against a range of companies globally, including merchant acquirers, processors, payment facilitators and web- and mobile-based payment platforms (e.g., Alipay, PayPal and Shop Pay), as well as regional payment networks (such as the National Payments Corporation of India)." ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm))

"The development of agentic commerce solutions, in which autonomous or semi-autonomous AI agents initiate and execute transactions on behalf of users, has accelerated as generative AI technologies have advanced and become more popular. [...] The integration of these and other new or evolving technologies has the potential to create new or better competitor products, alter the competitive environment and reshape customer payment experiences, including in ways that disintermediate our relationship with customers." (Form 10-K for 2025, Item 1, "Competition", filed February 6, 2026; Item 1A adds that competitors "may also use AI technologies more effectively than us".) ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm))

## Who competes with Amex in each of its businesses?

| Business line | Competitor | Type | Why it competes |
| --- | --- | --- | --- |
| Premium and cobrand credit cards | [JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Bank | Payments Dive reports that Amex dominated the premium card market until Chase launched the Sapphire Reserve in 2016, and that the two announced premium card refreshes within days of each other in June 2025; CNBC (July 2026) calls Platinum and Sapphire Reserve the leading premium cards, now competing on lounges at festivals and stadiums. ([Payments Dive](https://www.paymentsdive.com/news/jpmorgan-amex-flash-new-cards/751138/), [CNBC](https://www.cnbc.com/2026/07/03/amex-chase-credit-card-lounges.html)) |
| Premium and cobrand credit cards | [Citigroup](https://www.bankingnewsai.com/banks/citigroup) | Bank | Payments Dive (March 2026) names Citi's Strata Elite with Amex Platinum and Chase Sapphire Reserve as the premium cards in an 'arms race' for affluent spenders; Synchrony's 10-K lists Citibank with American Express among the competitors for card partner programs. ([Payments Dive](https://www.paymentsdive.com/news/robinhood-takes-on-premium-card-issuers-amex-platinum-chase-travel/814761/), [Synchrony Financial (SEC filing)](https://www.sec.gov/Archives/edgar/data/1601712/000160171226000006/syf-20251231.htm)) |
| Premium and cobrand credit cards | [Capital One](https://www.bankingnewsai.com/banks/capital-one) | Bank | Capital One's 2025 10-K names American Express among the card issuers its Credit Card business competes with; it was the largest US issuer by outstanding balances at the end of 2025. ([Capital One via SEC EDGAR](https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm)) |
| Premium and cobrand credit cards | [Synchrony](https://www.bankingnewsai.com/banks/synchrony) | Bank | Synchrony's 2025 10-K lists American Express, with Capital One/Discover, JPMorgan Chase, Citibank, Bread Financial and Wells Fargo, among the major competitors for retail and cobrand card partners; Amex's own 10-K says competition for cobrand relationships is intense. ([Synchrony Financial (SEC filing)](https://www.sec.gov/Archives/edgar/data/1601712/000160171226000006/syf-20251231.htm), [American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm)) |
| Premium and cobrand credit cards | [Robinhood](https://www.bankingnewsai.com/fintech/robinhood) | Fintech | Robinhood launched a Platinum card in March 2026 aimed at younger high-net-worth people who do not identify with incumbent cards; its executive contrasted it with 'a 60-year-old person who has Amex' (Payments Dive). ([Payments Dive](https://www.paymentsdive.com/news/robinhood-takes-on-premium-card-issuers-amex-platinum-chase-travel/814761/)) |
| Card networks and wallets | [Visa](https://www.bankingnewsai.com/fintech/visa) | Card network | Amex's 10-K names Visa first among the card networks it competes with and says Visa and Mastercard are larger than Amex in most countries; Visa's fiscal 2025 10-K lists American Express among its competitors and as a closed-loop system. ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm), [U.S. Securities and Exchange Commission (EDGAR)](https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm)) |
| Card networks and wallets | [Mastercard](https://www.bankingnewsai.com/fintech/mastercard) | Card network | Mastercard's 2025 10-K says it competes worldwide with payments networks such as Visa, American Express, JCB, China UnionPay and Discover; Amex ranks itself fourth by purchase volume, behind Mastercard. ([U.S. Securities and Exchange Commission (EDGAR)](https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm), [American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm)) |
| Card networks and wallets | [Capital One (Discover and Diners Club)](https://www.bankingnewsai.com/banks/capital-one) | Bank | Amex's 10-K names Discover and Diners Club International, 'owned by Capital One', among the networks it competes with; Capital One's 10-K says that since buying Discover it competes in the global payments industry with network operators. ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm), [Capital One via SEC EDGAR](https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm)) |
| Card networks and wallets | [PayPal](https://www.bankingnewsai.com/fintech/paypal) | Payments company | Amex's 2025 10-K names PayPal, with Alipay and Shop Pay, among the web- and mobile-based payment platforms its network competes against. ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm)) |
| Business cards and spend management | [JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Bank | Payments Dive (March 2026) names JPMorgan Chase and Capital One as the large bank rivals of Amex for business card customers, alongside fintechs; small business and corporate clients were about 41% of Amex's worldwide billed business in 2025. ([Payments Dive](https://www.paymentsdive.com/news/amex-floats-first-new-business-card-in-7-years/815618/), [American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm)) |
| Business cards and spend management | [Ramp](https://www.bankingnewsai.com/fintech/ramp) | Fintech | Payments Dive lists Ramp with Bill, Brex and Engine among the fintechs competing with Amex for business card customers when Amex floated its first new business card in seven years (March 2026). ([Payments Dive](https://www.paymentsdive.com/news/amex-floats-first-new-business-card-in-7-years/815618/)) |
| Business cards and spend management | [Visa](https://www.bankingnewsai.com/fintech/visa) | Card network | Payments Dive (March 2026) reports that Visa has been courting small and medium-sized businesses, competing with Amex in offering financing and other tools for smaller companies. ([Payments Dive](https://www.paymentsdive.com/news/amex-floats-first-new-business-card-in-7-years/815618/)) |
| Business cards and spend management | [Brex (Capital One)](https://www.bankingnewsai.com/fintech/brex) | Fintech | Named by Payments Dive among Amex's business card rivals; Capital One closed its purchase of Brex in April 2026, combining a large card issuer with a spend-management platform. ([Payments Dive](https://www.paymentsdive.com/news/amex-floats-first-new-business-card-in-7-years/815618/), [Capital One](https://www.capitalone.com/about/newsroom/capital-one-completes-acquisition-of-brex/)) |
| Point-of-sale credit and BNPL | [Klarna](https://www.bankingnewsai.com/fintech/klarna) | Fintech | Amex's 10-K says revolving balances could be hit by point-of-sale lenders and buy now, pay later products; in J.D. Power's 2025 BNPL study Amex's card-based plan scored highest with JPMorgan's, and Klarna was the highest-rated BNPL company (Payments Dive, February 2025). ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm), [Payments Dive](https://www.paymentsdive.com/news/gen-z-uses-bnpl-more-than-credit-cards-survey-shows/741139/)) |
| Point-of-sale credit and BNPL | [Citigroup (Citi Flex Pay)](https://www.bankingnewsai.com/banks/citigroup) | Bank | Citi Flex Pay, Citi's card-based BNPL offering, placed third in J.D. Power's 2025 study behind Amex and JPMorgan, ahead of Klarna (Payments Dive, February 2025). ([Payments Dive](https://www.paymentsdive.com/news/gen-z-uses-bnpl-more-than-credit-cards-survey-shows/741139/)) |
| Point-of-sale credit and BNPL | [JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Bank | JPMorgan's card-based BNPL product scored with Amex's at the top of J.D. Power's 2025 study; a consultant told Payments Dive that when Amex and JPMorgan refresh premium cards they are 'also thinking about buy now, pay later'. ([Payments Dive](https://www.paymentsdive.com/news/gen-z-uses-bnpl-more-than-credit-cards-survey-shows/741139/), [Payments Dive](https://www.paymentsdive.com/news/jpmorgan-amex-flash-new-cards/751138/)) |

## How do the AI and digital offerings of Amex's competitors compare?

Amex first, then each competitor. Use-case counts, index scores and latest moves are computed from our profiles of each company; "No profile" means this site has no page on it yet.

| Company | AI or digital offering | On the record (our profiles) | Latest dated AI move |
| --- | --- | --- | --- |
| [American Express (this page)](https://www.bankingnewsai.com/banks/american-express) | Agentic Commerce Experiences (ACE) and Amex Agent Purchase Protection ([American Express](https://www.americanexpress.com/en-us/newsroom/articles/innovation/american-express-debuts-agentic-commerce-experiences--ace--devel.html), [American Express via FT Markets](https://markets-data-api-proxy.ft.com/data/announce/full?dockey=600-202604160915BIZWIRE_USPRX____20260415_BW433431-1), [American Banker](https://www.americanbanker.com/payments/news/amex-introduces-agentic-commerce-developers-kit)) | [Index 93.1 (#3); 24 use cases, 13 in production](https://www.bankingnewsai.com/banks/american-express) | Intent Intelligence framework published (Oct 13, 2026) ([American Express via FT Markets](https://markets.ft.com/data/announce/detail?dockey=600-202610130930BIZWIRE_USPRX____20261013_BW636634-1), [TechCrunch](https://techcrunch.com/2026/10/13/amex-introduces-a-framework-to-prevent-ai-agents-from-making-unauthorized-purchases)) |
| [JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | LLM Suite for about 250,000 employees; Chase card uses generative AI to document and rewrite mainframe code. ([American Banker](https://www.americanbanker.com/news/how-jpmorganchase-democratized-employee-access-to-gen-ai), [Reuters](https://www.reuters.com/technology/artificial-intelligence/jpmorgan-engineers-efficiency-jumps-much-20-using-coding-assistant-2025-03-13/)) | [Index 89 (#6); 15 use cases, 8 in production](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Q3 2026 call: outside AI agents stay blocked; AI spend put near $700 million (Oct 13, 2026) ([CNBC](https://www.cnbc.com/2026/10/13/jpmorgan-ai-agents-account-access.html), [Banking Dive](https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870), [American Banker](https://www.americanbanker.com/news/jpmorgan-warns-of-risks-to-consumers-who-rely-on-ai-agents)) |
| [Citigroup](https://www.bankingnewsai.com/banks/citigroup) | New AI approval models in U.S. Cards raised approval rates by 100 basis points (May 2026); Mastercard Agent Pay in its branded cards. ([Citigroup](https://citigroup.com/rcs/citigpa/storage/public/investor-day/citi-ID26-full-event-transcript.pdf), [American Banker](https://www.americanbanker.com/news/citis-pam-habner-is-23-on-the-most-innovative-people-in-finance-ranking)) | [Index 94.9 (#2); 20 use cases, 15 in production](https://www.bankingnewsai.com/banks/citigroup) | Payments chief: no AI model to authorise payments (Oct 1, 2026) ([American Banker](https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-7-debopama-sen-citi)) |
| [Capital One](https://www.bankingnewsai.com/banks/capital-one) | Eno assistant since 2017 and Chat Concierge, a multi-agent assistant for car dealers (March 2025). ([Capital One](https://www.capitalone.com/digital/tools/eno/), [Capital One](https://www.capitalone.com/tech/ai/future-of-ai-car-dealerships-shopping)) | [Index 86.9 (#9); 13 use cases, 13 in production](https://www.bankingnewsai.com/banks/capital-one) | Second on the Evident AI index for a fourth year (Oct 6, 2026) ([American Banker](https://www.americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens), [Banking Dive](https://www.bankingdive.com/news/banks-ai-guardrails-accelerate/832216/)) |
| [Synchrony](https://www.bankingnewsai.com/banks/synchrony) | PRISM credit decisioning and a ChatGPT plugin for Synchrony Marketplace offers (August 2026). ([American Banker](https://americanbanker.com/news/synchronys-prism-is-one-of-the-innovations-of-the-year-honoree), [Synchrony (PR Newswire)](https://investors.synchrony.com/news-events/financial-news/detail/586/synchrony-announces-enterprise-collaboration-with-openai-to-power-the-next-era-of-agentic-commerce)) | [Index 68.8 (#35); 15 use cases, 10 in production](https://www.bankingnewsai.com/banks/synchrony) | Oxford Economics study and an AI-platform partnership for CareCredit (Sep 30, 2026) ([Synchrony (PR Newswire)](https://www.prnewswire.com/news-releases/synchrony-and-oxford-economics-find-trust-will-define-the-future-of-ai-shopping-302894036.html), [Synchrony (PR Newswire)](https://investors.synchrony.com/news-events/financial-news/detail/590/carecredit-partners-with-vetspire-to-modernize-veterinary-payments-with-ai-enabled-practice-solutions)) |
| [Robinhood](https://www.bankingnewsai.com/fintech/robinhood) | Robinhood Cortex, an AI investment tool for Gold subscribers, with a conversational Cortex Assistant. ([Robinhood](https://robinhood.com/us/en/newsroom/introducing-strategies-banking-and-cortex/)) | [8 use cases, 3 in production](https://www.bankingnewsai.com/fintech/robinhood) | Robinhood Agents, weekend trading and perpetual futures unveiled at HOOD Summit (Sep 29, 2026) ([Robinhood](https://robinhood.com/us/en/newsroom/hood-summit-2026/), [Fortune](https://fortune.com/2026/09/29/robinhood-trading-agents-hood-openai-anthropic/)) |
| [Visa](https://www.bankingnewsai.com/fintech/visa) | Visa Intelligent Commerce for AI agents (April 2025), extended with the Trusted Agent Protocol. ([Visa](https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.21366.html), [Visa](https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.21716.html)) | [8 use cases, 5 in production](https://www.bankingnewsai.com/fintech/visa) | PYMNTS Intelligence: small merchants lag on AI-agent readiness (Sep 22, 2026) ([PYMNTS](https://www.pymnts.com/?p=4214915)) |
| [Mastercard](https://www.bankingnewsai.com/fintech/mastercard) | Mastercard Agent Pay with Agentic Tokens (April 2025); Verifiable Intent with Google (March 2026). ([Mastercard](https://www.mastercard.com/news/press/2025/april/mastercard-unveils-agent-pay-pioneering-agentic-payments-technology-to-power-commerce-in-the-age-of-ai/), [Mastercard](https://www.mastercard.com/us/en/news-and-trends/stories/2026/verifiable-intent.html)) | [9 use cases, 3 in production](https://www.bankingnewsai.com/fintech/mastercard) | Agent Pay Trust Framework and new trust and intelligence services (Sep 30, 2026) ([Mastercard](https://www.mastercard.com/global/en/news-and-trends/press/2026/september/new-trust-and-intelligence-services.html), [Mastercard](https://www.mastercard.com/us/en/news-and-trends/Insights/2026/mastercard-agentic-commerce-trust-white-paper.html)) |
| [Capital One (Discover and Diners Club)](https://www.bankingnewsai.com/banks/capital-one) | Chat Concierge and the in-house agent stack ([Capital One](https://www.capitalone.com/tech/ai/future-of-ai-car-dealerships-shopping), [Capital One](https://www.capitalone.com/tech/ai/applied-ai-research), [American Banker](https://www.americanbanker.com/news/goldman-sachs-capital-one-prep-for-self-driving-ai-agents)) | [Index 86.9 (#9); 13 use cases, 13 in production](https://www.bankingnewsai.com/banks/capital-one) | Second on the Evident AI index for a fourth year (Oct 6, 2026) ([American Banker](https://www.americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens), [Banking Dive](https://www.bankingdive.com/news/banks-ai-guardrails-accelerate/832216/)) |
| [PayPal](https://www.bankingnewsai.com/fintech/paypal) | Agent ready and store sync for merchants selling on AI surfaces (October 2025); powers Microsoft's Copilot Checkout. ([PayPal](https://newsroom.paypal-corp.com/2025-10-28-PayPal-Launches-Agentic-Commerce-Services-to-Power-AI-Driven-Shopping), [PayPal](https://newsroom.paypal-corp.com/2026-01-08-PayPal-Powers-Microsofts-Launch-of-Copilot-Checkout)) | [9 use cases, 5 in production](https://www.bankingnewsai.com/fintech/paypal) | PayPal adds support for Meta's Muse (Sep 23, 2026) ([American Banker](https://www.americanbanker.com/payments/news/paypal-partners-with-metas-muse-ai-assistant)) |
| [Ramp](https://www.bankingnewsai.com/fintech/ramp) | Ramp agents review expenses against policy (July 2025); accounts-payable agents followed. ([Ramp](https://ramp.com/blog/ramp-agents-announcement), [Ramp](https://ramp.com/blog/ramp-ap-agents-announcement)) | [10 use cases, 5 in production](https://www.bankingnewsai.com/fintech/ramp) | $1.85 billion at a $60 billion valuation (Oct 15, 2026) ([TechCrunch](https://techcrunch.com/2026/10/15/ramp-reaches-60b-valuation-as-it-pushes-deeper-into-ai), [Ramp via PR Newswire](https://www.prnewswire.com/news-releases/ramp-reaches-60-billion-valuation-as-annualized-revenue-tops-2-billion-302909315.html)) |
| [Brex (Capital One)](https://www.bankingnewsai.com/fintech/brex) | Brex AI agents for expenses, review, audit and accounting; nearly 70% of expenses handled entirely by automation (March 2026). ([American Banker](https://www.americanbanker.com/payments/news/capital-one-closes-brex-acquisition), [Brex](https://www.brex.com/journal/press/brex-helps-power-open-ai-global-spend-and-financial-operations), [Brex via PR Newswire](https://www.prnewswire.com/news-releases/brex-gives-every-employee-an-expense-assistant-with-ai-301931043.html)) | [7 use cases, 7 in production](https://www.bankingnewsai.com/fintech/brex) | Coding agents migrate 180 microservices (Jul 22, 2026) ([Brex](https://www.brex.com/journal/agent-automations-for-big-migrations)) |
| [Klarna](https://www.bankingnewsai.com/fintech/klarna) | Klarna AI Assistant, built on OpenAI, handled 2.3 million conversations in its first month (2024). ([Klarna](https://www.klarna.com/international/press/klarna-ai-assistant-handles-two-thirds-of-customer-service-chats-in-its-first-month/)) | [7 use cases, 7 in production](https://www.bankingnewsai.com/fintech/klarna) | Q2 2026 results point to AI shopping surfaces (Aug 18, 2026) ([Klarna Group plc via SEC EDGAR](https://www.sec.gov/Archives/edgar/data/2003292/000162828026057573/q22026earningsrelease.htm)) |
| [Citigroup (Citi Flex Pay)](https://www.bankingnewsai.com/banks/citigroup) | Citi Stylus Workspaces ([The Wall Street Journal](https://www.wsj.com/cio-journal/the-ai-superfans-companies-count-on-to-convert-the-skeptics-5b301a90), [Citigroup](https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q12026/2026psqtr1rslt.pdf)) | [Index 94.9 (#2); 20 use cases, 15 in production](https://www.bankingnewsai.com/banks/citigroup) | Payments chief: no AI model to authorise payments (Oct 1, 2026) ([American Banker](https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-7-debopama-sen-citi)) |

## Who should look beyond Amex, and where?

| If you are | Look at | Why |
| --- | --- | --- |
| Shoppers who want a card accepted almost everywhere abroad | [Cards on the Visa or Mastercard networks](https://www.bankingnewsai.com/fintech/visa) | Amex's own 10-K says it believes Visa and Mastercard are larger than Amex in most countries based on purchase volume and that its business depends on increasing merchant acceptance; Amex is the fourth-largest network globally. ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm)) |
| Customers who want a branch bank with checking, mortgages and cards together | [A universal bank such as JPMorgan Chase or Bank of America](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Amex's US bank, American Express National Bank, takes direct retail deposits, and its 10-K describes card-issuing, network and merchant businesses. JPMorgan Chase Bank's 10-K describes U.S. branches in 48 states and Washington, D.C. ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm), [JPMorgan Chase & Co. (SEC filings)](https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm)) |
| Finance teams that want spend software not tied to one card issuer | [Ramp](https://www.bankingnewsai.com/fintech/ramp) | Payments Dive names Ramp among the fintechs competing with Amex for business card customers; Ramp sells AI agents for expense review and accounts payable. Brex, another rival, has been owned by Capital One since April 2026. ([Payments Dive](https://www.paymentsdive.com/news/amex-floats-first-new-business-card-in-7-years/815618/), [Ramp](https://ramp.com/blog/ramp-agents-announcement), [Capital One](https://www.capitalone.com/about/newsroom/capital-one-completes-acquisition-of-brex/)) |
| Shoppers who want to pay in installments without a credit card | [BNPL providers such as Klarna](https://www.bankingnewsai.com/fintech/klarna) | Amex offers card-based installment plans, which scored highest in J.D. Power's 2025 BNPL study; shoppers who do not want a card account use BNPL providers, of which Klarna rated highest. J.D. Power found 54% of Gen Z used BNPL in the 2024 holidays against 50% who used credit cards. ([Payments Dive](https://www.paymentsdive.com/news/gen-z-uses-bnpl-more-than-credit-cards-survey-shows/741139/)) |
| Younger affluent spenders who want a premium card from an app-first brand | [Robinhood's Platinum card](https://www.bankingnewsai.com/fintech/robinhood) | Robinhood launched its invitation-only Platinum card in March 2026 for younger, tech-savvy high-net-worth customers, drawing invitees from its gold card base of about 700,000 cardholders (Payments Dive). ([Payments Dive](https://www.paymentsdive.com/news/robinhood-takes-on-premium-card-issuers-amex-platinum-chase-travel/814761/)) |

## How big is the American Express network next to Visa, Mastercard and Discover?

Calendar 2024 figures as published in Visa's fiscal 2025 10-K, which sources the competitors' data from The Nilson Report (June 2025). Visa and Mastercard include credit, debit and prepaid; the others are credit cards, including third-party issuers. Amex reported $1,670 billion of billed business on cards it issued in 2025.

| Network | Owner | Payments volume, 2024 | Transactions, 2024 | Cards |
| --- | --- | --- | --- | --- |
| Visa | Visa | $13,433 billion | 311 billion | 4,805 million ([U.S. Securities and Exchange Commission (EDGAR)](https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm)) |
| Mastercard | Mastercard | $8,014 billion | 204 billion | 3,146 million ([U.S. Securities and Exchange Commission (EDGAR)](https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm)) |
| American Express | American Express | $1,750 billion | 12 billion | 147 million ([U.S. Securities and Exchange Commission (EDGAR)](https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm), [American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm)) |
| JCB | JCB | $319 billion | 7 billion | 167 million ([U.S. Securities and Exchange Commission (EDGAR)](https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm)) |
| Diners Club / Discover | Capital One (since May 2025) | $253 billion | 4 billion | 72 million ([U.S. Securities and Exchange Commission (EDGAR)](https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm), [Payments Dive](https://www.paymentsdive.com/news/capital-one-discover-merger-acquisition-close-settlement-425-million-court-savings-account/748474/)) |

## Which premium cards compete with the Amex Platinum card?

The premium cards named in trade and business press as Platinum's rivals; fees are left out because they change.

| Card | Issuer | How it competes | Reported |
| --- | --- | --- | --- |
| Sapphire Reserve | JPMorgan Chase | Ended Amex's dominance of premium cards after its 2016 launch; refresh announced within days of Platinum's in June 2025; lounges at festivals and venues | June 2025; July 2026 ([Payments Dive](https://www.paymentsdive.com/news/jpmorgan-amex-flash-new-cards/751138/), [CNBC](https://www.cnbc.com/2026/07/03/amex-chase-credit-card-lounges.html)) |
| Strata Elite | Citigroup | Named with Platinum and Sapphire Reserve in the premium 'arms race' for affluent spenders | March 2026 ([Payments Dive](https://www.paymentsdive.com/news/robinhood-takes-on-premium-card-issuers-amex-platinum-chase-travel/814761/)) |
| Robinhood Platinum Card | Robinhood | Invitation-only card for younger high-net-worth customers, drawn from about 700,000 gold cardholders | March 2026 ([Payments Dive](https://www.paymentsdive.com/news/robinhood-takes-on-premium-card-issuers-amex-platinum-chase-travel/814761/)) |
| Delta, Hilton and Marriott cobrand cards | American Express | Cobrand cards were about a quarter of Amex Card Member spending in 2025; Delta alone about 13% of billed business | 2025-2026 ([CNBC](https://www.cnbc.com/2026/07/03/amex-chase-credit-card-lounges.html), [American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm)) |

## Common questions

### Who are American Express's biggest competitors?

By line: in premium and cobrand cards, JPMorgan Chase, Citigroup, Capital One and Synchrony, plus newcomer Robinhood; as a network, Visa, Mastercard and Capital One's Discover and Diners Club, which Amex's 10-K names; in business spending, JPMorgan, Capital One and fintechs such as Ramp and Brex; and in point-of-sale credit, BNPL providers such as Klarna. The 10-K also names PayPal, Alipay and Shop Pay. ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm), [Payments Dive](https://www.paymentsdive.com/news/jpmorgan-amex-flash-new-cards/751138/), [Payments Dive](https://www.paymentsdive.com/news/robinhood-takes-on-premium-card-issuers-amex-platinum-chase-travel/814761/), [Payments Dive](https://www.paymentsdive.com/news/amex-floats-first-new-business-card-in-7-years/815618/), [Payments Dive](https://www.paymentsdive.com/news/gen-z-uses-bnpl-more-than-credit-cards-survey-shows/741139/))

### American Express vs Chase: which competes harder for premium cardholders?

They compete head to head. Payments Dive reports that Amex dominated premium cards until Chase launched Sapphire Reserve in 2016, and both announced refreshes of their flagship cards within days of each other in June 2025. CNBC (July 2026) calls Platinum and Sapphire Reserve the leading premium cards and describes their lounge contest moving from airports to festivals and stadiums. ([Payments Dive](https://www.paymentsdive.com/news/jpmorgan-amex-flash-new-cards/751138/), [CNBC](https://www.cnbc.com/2026/07/03/amex-chase-credit-card-lounges.html))

### Is American Express a competitor of Visa and Mastercard?

Yes, as a network. Amex's 2025 10-K names Visa, China UnionPay, Mastercard, JCB, Discover and Diners Club and ranks Amex fourth globally by purchase volume. Visa's fiscal 2025 10-K lists American Express among its competitors, and Mastercard's 10-K says it competes with Visa, American Express, JCB, China UnionPay and Discover. Amex says Visa and Mastercard are larger in most countries. ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm), [U.S. Securities and Exchange Commission (EDGAR)](https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm), [U.S. Securities and Exchange Commission (EDGAR)](https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm))

### Is Robinhood a competitor of American Express?

In premium cards, Robinhood has made itself one. It launched an invitation-only Platinum card in March 2026 aimed at younger, tech-savvy high-net-worth customers, invited its highest-spending gold cardholders first, and its executive contrasted the target customer with 'a 60-year-old person who has Amex' (Payments Dive). ([Payments Dive](https://www.paymentsdive.com/news/robinhood-takes-on-premium-card-issuers-amex-platinum-chase-travel/814761/))

### What are alternatives to American Express for business cards?

JPMorgan Chase and Capital One among banks, and the fintechs Ramp, Bill, Brex and Engine, which Payments Dive names as competitors for business card customers. Brex has belonged to Capital One since April 2026. Amex's own commercial push includes the agentic Graphite card and the Hypercard acquisition for agentic expense management. ([Payments Dive](https://www.paymentsdive.com/news/amex-floats-first-new-business-card-in-7-years/815618/), [Capital One](https://www.capitalone.com/about/newsroom/capital-one-completes-acquisition-of-brex/), [American Express via FT Markets](https://markets.ft.com/data/announce/detail?dockey=600-202603250715BIZWIRE_USPRX____20260324_BW485642-1), [American Express via FT Markets](https://markets-data-api-proxy.ft.com/data/announce/full?dockey=600-202604160915BIZWIRE_USPRX____20260415_BW433431-1))

### Does buy now, pay later compete with American Express?

Amex's 10-K says revolving balances could be affected by point-of-sale lenders and buy now, pay later products. J.D. Power's 2025 study found 54% of Gen Z used BNPL in the 2024 holidays against 50% using credit cards; card-based plans from Amex and JPMorgan scored highest, Citi Flex Pay third and Klarna highest among BNPL companies. ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm), [Payments Dive](https://www.paymentsdive.com/news/gen-z-uses-bnpl-more-than-credit-cards-survey-shows/741139/))

### Is PayPal a competitor of American Express?

Yes, by Amex's own account. Its 2025 10-K names PayPal, with Alipay and Shop Pay, among the web- and mobile-based payment platforms its network competes against, and warns that companies controlling wallets or agentic experiences could suppress use of its cards. PayPal launched agent ready and store sync for merchants selling on AI surfaces in October 2025 and powers Microsoft's Copilot Checkout. ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm), [PayPal](https://newsroom.paypal-corp.com/2025-10-28-PayPal-Launches-Agentic-Commerce-Services-to-Power-AI-Driven-Shopping), [PayPal](https://newsroom.paypal-corp.com/2026-01-08-PayPal-Powers-Microsofts-Launch-of-Copilot-Checkout))

### Who competes with American Express for cobrand partners such as Delta?

Amex's 10-K says competition for cobrand relationships is intense as issuers and networks target key partners. Synchrony's 10-K lists American Express with Capital One/Discover, JPMorgan Chase, Citibank, Bread Financial and Wells Fargo as the major competitors for card partners. Delta, Amex's largest partner, was about 13% of worldwide billed business and 21% of Card Member loans at the end of 2025, under an agreement running through 2029. ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm), [Synchrony Financial (SEC filing)](https://www.sec.gov/Archives/edgar/data/1601712/000160171226000006/syf-20251231.htm))

### How could AI agents change who American Express competes with?

Amex's 10-K says agentic commerce, in which AI agents initiate and execute transactions for users, could create new competitor products and disintermediate its relationship with customers, and that companies controlling wallets or agentic experiences could suppress use of its cards. Its answer is the ACE developer kit, Agent Purchase Protection and the Intent Intelligence framework. ([American Express (SEC filings)](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm), [American Express](https://www.americanexpress.com/en-us/newsroom/articles/innovation/american-express-debuts-agentic-commerce-experiences--ace--devel.html), [American Express via FT Markets](https://markets.ft.com/data/announce/detail?dockey=600-202610130930BIZWIRE_USPRX____20261013_BW636634-1))

## Peers on this site

- [Capital One AI strategy](https://www.bankingnewsai.com/banks/capital-one) · [vs peers](https://www.bankingnewsai.com/banks/capital-one/vs-peers)
- [JPMorgan Chase AI strategy](https://www.bankingnewsai.com/banks/jpmorgan-chase) · [vs peers](https://www.bankingnewsai.com/banks/jpmorgan-chase/vs-peers)
- [Citigroup AI strategy](https://www.bankingnewsai.com/banks/citigroup) · [vs peers](https://www.bankingnewsai.com/banks/citigroup/vs-peers)
- [Synchrony Financial AI strategy](https://www.bankingnewsai.com/banks/synchrony) · [vs peers](https://www.bankingnewsai.com/banks/synchrony/vs-peers)
- [Bank of America AI strategy](https://www.bankingnewsai.com/banks/bank-of-america) · [vs peers](https://www.bankingnewsai.com/banks/bank-of-america/vs-peers)
- [Wells Fargo AI strategy](https://www.bankingnewsai.com/banks/wells-fargo) · [vs peers](https://www.bankingnewsai.com/banks/wells-fargo/vs-peers)
- [Bread Financial Holdings AI strategy](https://www.bankingnewsai.com/banks/bread-financial) · [vs peers](https://www.bankingnewsai.com/banks/bread-financial/vs-peers)
- [Barclays US Consumer Bank AI strategy](https://www.bankingnewsai.com/banks/barclays-us) · [vs peers](https://www.bankingnewsai.com/banks/barclays-us/vs-peers)
- [U.S. Bancorp AI strategy](https://www.bankingnewsai.com/banks/us-bancorp) · [vs peers](https://www.bankingnewsai.com/banks/us-bancorp/vs-peers)

## Sources

1. American Express Company Annual Report on Form 10-K for 2025 — American Express (SEC filings), Feb 6, 2026. https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm
2. JPMorgan, Amex flash new cards — Payments Dive, Jun 20, 2025. https://www.paymentsdive.com/news/jpmorgan-amex-flash-new-cards/751138/
3. American Express and Chase move luxury lounge wars beyond the airport — CNBC, Jul 3, 2026. https://www.cnbc.com/2026/07/03/amex-chase-credit-card-lounges.html
4. Robinhood takes on premium card issuers — Payments Dive, Mar 16, 2026. https://www.paymentsdive.com/news/robinhood-takes-on-premium-card-issuers-amex-platinum-chase-travel/814761/
5. Capital One Financial Corporation Annual Report on Form 10-K for 2025 — Capital One via SEC EDGAR, Feb 19, 2026. https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/cof-20251231.htm
6. Form 10-K for the fiscal year ended December 31, 2025 — Synchrony Financial (SEC filing), Feb 6, 2026. https://www.sec.gov/Archives/edgar/data/1601712/000160171226000006/syf-20251231.htm
7. Visa Inc. Form 10-K for the fiscal year ended September 30, 2025 — U.S. Securities and Exchange Commission (EDGAR), Nov 6, 2025. https://www.sec.gov/Archives/edgar/data/1403161/000140316125000089/v-20250930.htm
8. Mastercard Incorporated Form 10-K for the fiscal year ended December 31, 2025 — U.S. Securities and Exchange Commission (EDGAR), Feb 11, 2026. https://www.sec.gov/Archives/edgar/data/1141391/000114139126000013/ma-20251231.htm
9. Amex floats first new business card in 7 years — Payments Dive, Mar 25, 2026. https://www.paymentsdive.com/news/amex-floats-first-new-business-card-in-7-years/815618/
10. Gen Z uses BNPL more than credit cards, survey shows — Payments Dive, Feb 27, 2025. https://www.paymentsdive.com/news/gen-z-uses-bnpl-more-than-credit-cards-survey-shows/741139/
11. Capital One completes acquisition of Brex — Capital One, Apr 7, 2026. https://www.capitalone.com/about/newsroom/capital-one-completes-acquisition-of-brex/
12. American Express Debuts Agentic Commerce Experiences (ACE)™ Developer Kit and Announces Industry-First Protection for Registered Agent Purchases — American Express, Apr 14, 2026. https://www.americanexpress.com/en-us/newsroom/articles/innovation/american-express-debuts-agentic-commerce-experiences--ace--devel.html
13. American Express to Acquire Hyper, Adding to Its AI Expertise and Expense Management Capabilities — American Express via FT Markets, Apr 16, 2026. https://markets-data-api-proxy.ft.com/data/announce/full?dockey=600-202604160915BIZWIRE_USPRX____20260415_BW433431-1
14. Amex tries to 'grease the skids' for agentic commerce — American Banker, Apr 14, 2026. https://www.americanbanker.com/payments/news/amex-introduces-agentic-commerce-developers-kit
15. American Express Publishes Intent Intelligence Framework for Trusted Agentic Commerce — American Express via FT Markets, Oct 13, 2026. https://markets.ft.com/data/announce/detail?dockey=600-202610130930BIZWIRE_USPRX____20261013_BW636634-1
16. Amex introduces a framework to prevent AI agents from making unauthorized purchases — TechCrunch, Oct 13, 2026. https://techcrunch.com/2026/10/13/amex-introduces-a-framework-to-prevent-ai-agents-from-making-unauthorized-purchases
17. How JPMorganChase democratized employee access to gen AI — American Banker, May 22, 2025. https://www.americanbanker.com/news/how-jpmorganchase-democratized-employee-access-to-gen-ai
18. JPMorgan engineers' efficiency jumps as much as 20% from using coding assistant — Reuters, Mar 13, 2025. https://www.reuters.com/technology/artificial-intelligence/jpmorgan-engineers-efficiency-jumps-much-20-using-coding-assistant-2025-03-13/
19. JPMorgan Chase blocks outside AI agents like Muse, Instinct from directly accessing accounts — CNBC, Oct 13, 2026. https://www.cnbc.com/2026/10/13/jpmorgan-ai-agents-account-access.html
20. JPMorgan CEO Dimon warns customers of 'liability transfer' with AI — Banking Dive, Oct 13, 2026. https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870
21. JPMorgan warns of risks to consumers who rely on AI agents — American Banker, Oct 13, 2026. https://www.americanbanker.com/news/jpmorgan-warns-of-risks-to-consumers-who-rely-on-ai-agents
22. Citi 2026 Investor Day Transcript - Consolidated — Citigroup, May 7, 2026. https://citigroup.com/rcs/citigpa/storage/public/investor-day/citi-ID26-full-event-transcript.pdf
23. Citi's Pam Habner bets big on agentic AI — American Banker, Jun 1, 2026. https://www.americanbanker.com/news/citis-pam-habner-is-23-on-the-most-innovative-people-in-finance-ranking
24. The Most Powerful Women in Banking Women to Watch, #7, Debopama Sen, Citi — American Banker, Oct 1, 2026. https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-7-debopama-sen-citi
25. Eno, your Capital One assistant — Capital One, Sep 19, 2026. https://www.capitalone.com/digital/tools/eno/
26. AI for Car Dealerships: Smarter Car Shopping — Capital One, Mar 5, 2025. https://www.capitalone.com/tech/ai/future-of-ai-car-dealerships-shopping
27. JPMorganChase still tops AI ranking as big-bank lead widens — American Banker, Oct 6, 2026. https://www.americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens
28. Banks prioritize responsible AI, governance as use soars — Banking Dive, Oct 6, 2026. https://www.bankingdive.com/news/banks-ai-guardrails-accelerate/832216/
29. Synchrony's underwriting model gets a big boost from deeper cashflow analysis — American Banker, Jun 1, 2026. https://americanbanker.com/news/synchronys-prism-is-one-of-the-innovations-of-the-year-honoree
30. Synchrony Announces Enterprise Collaboration with OpenAI to Power the Next Era of Agentic Commerce — Synchrony (PR Newswire), Aug 17, 2026. https://investors.synchrony.com/news-events/financial-news/detail/586/synchrony-announces-enterprise-collaboration-with-openai-to-power-the-next-era-of-agentic-commerce
31. Synchrony and Oxford Economics Find Trust Will Define the Future of AI Shopping — Synchrony (PR Newswire), Sep 30, 2026. https://www.prnewswire.com/news-releases/synchrony-and-oxford-economics-find-trust-will-define-the-future-of-ai-shopping-302894036.html
32. CareCredit Partners with Vetspire to Modernize Veterinary Payments with AI-Enabled Practice Solutions — Synchrony (PR Newswire), Sep 30, 2026. https://investors.synchrony.com/news-events/financial-news/detail/590/carecredit-partners-with-vetspire-to-modernize-veterinary-payments-with-ai-enabled-practice-solutions
33. Introducing Robinhood Strategies, Robinhood Banking, and Robinhood Cortex — Robinhood, Mar 27, 2025. https://robinhood.com/us/en/newsroom/introducing-strategies-banking-and-cortex/
34. Robinhood Puts the Power of Hedge Funds in Every Trader's Pocket — Robinhood, Sep 29, 2026. https://robinhood.com/us/en/newsroom/hood-summit-2026/
35. Robinhood rolls out OpenAI and Anthropic trading agents to millions of users — Fortune, Sep 29, 2026. https://fortune.com/2026/09/29/robinhood-trading-agents-hood-openai-anthropic/
36. The Future is Here: Visa Announces New Era of Commerce Featuring AI — Visa, Apr 30, 2025. https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.21366.html
37. Visa Introduces Trusted Agent Protocol: An Ecosystem-Led Framework for AI Commerce — Visa, Oct 14, 2025. https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.21716.html
38. Visa Says Small Merchants Could Move Faster on AI Shopping — PYMNTS, Sep 22, 2026. https://www.pymnts.com/?p=4214915
39. Mastercard unveils Agent Pay, pioneering agentic payments technology to power commerce in the age of AI — Mastercard, Apr 29, 2025. https://www.mastercard.com/news/press/2025/april/mastercard-unveils-agent-pay-pioneering-agentic-payments-technology-to-power-commerce-in-the-age-of-ai/
40. When AI starts buying for you, trust becomes the product — Mastercard, Mar 5, 2026. https://www.mastercard.com/us/en/news-and-trends/stories/2026/verifiable-intent.html
41. Mastercard advances agentic commerce with new trust and intelligence services — Mastercard, Sep 30, 2026. https://www.mastercard.com/global/en/news-and-trends/press/2026/september/new-trust-and-intelligence-services.html
42. What is agentic commerce trust? Inside Mastercard's new framework — Mastercard, Sep 30, 2026. https://www.mastercard.com/us/en/news-and-trends/Insights/2026/mastercard-agentic-commerce-trust-white-paper.html
43. Capital One's Applied AI research — Capital One, Nov 20, 2025. https://www.capitalone.com/tech/ai/applied-ai-research
44. Goldman Sachs, Capital One prep for self-driving AI agents — American Banker, Feb 20, 2025. https://www.americanbanker.com/news/goldman-sachs-capital-one-prep-for-self-driving-ai-agents
45. PayPal Launches Agentic Commerce Services to Power AI-Driven Shopping — PayPal, Oct 28, 2025. https://newsroom.paypal-corp.com/2025-10-28-PayPal-Launches-Agentic-Commerce-Services-to-Power-AI-Driven-Shopping
46. PayPal Powers Microsoft's Launch of Copilot Checkout — PayPal, Jan 8, 2026. https://newsroom.paypal-corp.com/2026-01-08-PayPal-Powers-Microsofts-Launch-of-Copilot-Checkout
47. PayPal partners with Meta's Muse AI assistant — American Banker, Sep 23, 2026. https://www.americanbanker.com/payments/news/paypal-partners-with-metas-muse-ai-assistant
48. Ramp agents: Let finance teams do finance — Ramp, Jul 9, 2025. https://ramp.com/blog/ramp-agents-announcement
49. AP just became autonomous — Ramp, Oct 7, 2025. https://ramp.com/blog/ramp-ap-agents-announcement
50. Ramp reaches $60B valuation as it pushes deeper into AI — TechCrunch, Oct 15, 2026. https://techcrunch.com/2026/10/15/ramp-reaches-60b-valuation-as-it-pushes-deeper-into-ai
51. Ramp Reaches $60 Billion Valuation as Annualized Revenue Tops $2 Billion — Ramp via PR Newswire, Oct 15, 2026. https://www.prnewswire.com/news-releases/ramp-reaches-60-billion-valuation-as-annualized-revenue-tops-2-billion-302909315.html
52. Capital One pushes deeper into AI, business payments — American Banker, Apr 8, 2026. https://www.americanbanker.com/payments/news/capital-one-closes-brex-acquisition
53. Brex Helps Power OpenAI Global Spend and Financial Operations — Brex, Mar 18, 2026. https://www.brex.com/journal/press/brex-helps-power-open-ai-global-spend-and-financial-operations
54. Brex Gives Every Employee an Expense Assistant With AI — Brex via PR Newswire, Sep 19, 2023. https://www.prnewswire.com/news-releases/brex-gives-every-employee-an-expense-assistant-with-ai-301931043.html
55. Agent automations for big migrations: How we accelerated framework upgrades by 32x with Cursor — Brex, Jul 22, 2026. https://www.brex.com/journal/agent-automations-for-big-migrations
56. Klarna AI assistant handles two-thirds of customer service chats in its first month — Klarna, Feb 27, 2024. https://www.klarna.com/international/press/klarna-ai-assistant-handles-two-thirds-of-customer-service-chats-in-its-first-month/
57. Klarna Q2'26 Earnings Release (Exhibit 99.2 to Form 6-K) — Klarna Group plc via SEC EDGAR, Aug 18, 2026. https://www.sec.gov/Archives/edgar/data/2003292/000162828026057573/q22026earningsrelease.htm
58. The AI Superfans Companies Count On to Convert the Skeptics — The Wall Street Journal, Jul 8, 2026. https://www.wsj.com/cio-journal/the-ai-superfans-companies-count-on-to-convert-the-skeptics-5b301a90
59. Earnings Results Presentation, First Quarter 2026 — Citigroup, Apr 14, 2026. https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q12026/2026psqtr1rslt.pdf
60. JPMorgan Chase & Co. Annual Report on Form 10-K for the year ended December 31, 2025 — JPMorgan Chase & Co. (SEC filings), Feb 13, 2026. https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm
61. Capital One closes Discover deal — Payments Dive, May 19, 2025. https://www.paymentsdive.com/news/capital-one-discover-merger-acquisition-close-settlement-425-million-court-savings-account/748474/
62. American Express Launches New Graphite Business Cash Unlimited Card — American Express via FT Markets, Mar 25, 2026. https://markets.ft.com/data/announce/detail?dockey=600-202603250715BIZWIRE_USPRX____20260324_BW485642-1

---

Canonical page: https://www.bankingnewsai.com/banks/american-express/competitors
Part of [BankingNewsAI](https://www.bankingnewsai.com/). Markdown versions of every reference page: append `.md` to the page URL; index at https://www.bankingnewsai.com/llms.txt.