American Express has partnered with Knot (an Amex Ventures portfolio company) to launch a pilot test run of card of file at select merchants as Bloomingdale’s, Hilton and Macy’s. Cardholders that are included in the pilot are able to automatically add their ‘card-on-file’ at the participating merchants. This is the combination of two technologies:
- Knot’s CardSwitcher™, which lets customers change their payment methods easily with different merchants without the need to enter their Card.
- American Express proprietary technology, which enables customers to share their payment data securely with their permission
Can’t really see these sorts of things taking off if they are restricted to a single payment network/card issuer.