To capture affluent and aspiring affluent consumers, rewards associated with health are a winner.

After U.S. Bank and Mastercard picked up the portfolio, Amex can use its new Graphite card to stay ahead.

Live sports and sport fans offer a huge opening for increased volume and new sign-ups.

As consumer spending flattens, issuers and networks are competing for SMB and corporate spending for growth.

It’s betting on flexibility and ease to boost commercial volume amid economic uncertainty.

The bank makes a bet that a seamless, separate app beats out a multi-use banking app.

Issuers hold the advantage of existing credit lines and post-purchase flexibility compared to fintechs, but only for existing credit cardholders, per JD Power.

Betting on a cash-back strategy, Robinhood takes a shot at premium card spend.

The purported damage depends on bank scale and type of technology investments.

Beyond bolstering its reservation platform, the issuer continued to enhance opportunities for personalization for its users.

Chase Sapphire Reserve will offer an exclusive FIFA World Cup ticket sale for cardholders in February 2026, per Chase. Offers connected to major events with deep fanbases can create valuable sign-up opportunities and positive brand associations for issuers. To maintain these new cardholders’ loyalty, issuers should consider integrating experiential rewards during the games—lounge opportunities, fast-pass check-in lanes, interactive pop-ups—to funnel users through multiple value-driven experiences over the duration of the tournament.

Walmart wants discretion to refuse cards based on their issuer at the point-of-sale, per an objection filed in response to the proposed settlement to end the decadeslong interchange fee legal battle. While new types of fee agreements with banks remain entirely speculative at this point, it’s unclear whether a patchwork quilt of deals with issuers would benefit Walmart. Discontinuing acceptance of certain issuers at the POS will likely cause just as much friction for consumers as the purportedly “useless” changes to the honor all cards rule, especially if Walmart stands alone in its issuer blacklist.

Ascend Federal Credit Union launched a debit card-linked installment offering through a partnership with equipifi, per a press release. It’s difficult for credit unions like Ascend to compete with the top issuers on credit card programs. They lack the necessary funds and resources to launch expansive credit card rewards offerings. But they have a better chance of competing for customers’ business when it comes to debit cards. Offering perks like card-linked installments can set their programs apart and draw in customers who are looking for more flexible financing options without applying for a new credit card.

Splitit partnered with DXC Technology, enabling affiliated banks to offer installment options at checkout for their consumers, per a press release. Expanding BNPL availability during the upcoming holiday season will be critical. In order to capture consumers’ limited spending, issuers should broaden financing options to make gift-buying more manageable and interest-free, especially for consumers with children, who are more likely to use BNPL options than any other demographic besides millennials at 46.7%, per a PYMNTS study.

American Express’ total revenues increased 11% in Q3 2025, per its earnings release. Increased card member spending, higher net interest income, revolving loan balances, and card fees supported growth, the company said. The uptick in dining indicates that even the wealthy are looking to pull back on bigger indulgences like vacation and looking for more local opportunities to splurge. To make up for lost travel volume, issuers should encourage spending on fine dining with exclusive dining pop-ups and experiences through their dining apps, focusing on local vendors—similar to Square’s Neighborhoods’ launch, but elevated.

Citi’s Strata Elite rollout has been pockmarked by poor customer service, per a report by The Wall Street Journal. Amex’s Platinum and Chase’s Sapphire Reserve products look increasingly desirable as competitors fumble their entrance into the premium space. To win over former Strata Elite cardholders, Amex and Chase should advertise their card portfolios’ solid customer service performance records in combination with their impressive reward packages. In addition, both issuers should highlight their cards’ travel rewards compatible with flying American Airlines. Former Citi cardholders may have joined specifically for AA frequent flier benefits, making travel rewards preferences critical for those members who might switch to a new product.

PayPal launched PayPal Ads Manager so that small- and medium-sized businesses (SMBs) can create their own retail media networks and generate new revenue streams, per a press release. Layering retail media networks within its financial media network gives PayPal a dual pipeline for revenues. Within its Q2 2025 earnings, Brand Experiences accounts for two percentage points of growth YoY, matching P2P and Venmo. PayPal stands to juice these sectors even more, as advertisers and businesses clamor for access to valuable transaction data. Shoppable ads can reduce conversion friction, which could become a major differentiator for SMBs considering the best place to allocate their advertising budgets.

American Express debuted Amex Ads, a new digital advertising platform that allows brands to connect with its 34 million customers, per a press release. Amex Ads will go live on AmexTravel.com before spreading to other Amex platforms. Amex has the power to link advertisers with high-spending consumers, which are driving the bulk of US spending during a period of economic uncertainty—and Amex’s earnings. By granting access to consumers who already are interested in prestige travel and dining experiences, advertisers can attach themselves to Amex’s strong brand halo for luxury experiences, delivering strong ROI for ad spend.

BNPL payment value and user growth will decelerate in the coming years as the industry matures. But BNPL providers still have a big opportunity to grow their share of retail sales.​

American Express refreshed its consumer and business Platinum Cards, complete with $895 annual fees and an enhanced slate of travel, dining, entertainment, and shopping credits. Amex’s annual fee is creeping closer to $1,000, and the issuer is arguing its fleet of perks—on paper worth over $3,500—more than pays for the price hike. However, cardholders will need to enroll to access many of Amex’s latest offerings, a snag that’s likely to reduce members actual use rate of their perks—eroding Platinum’s value and potentially pushing away the premium consumers Amex is trying to court.