Verve - See How AMEX is Shopping
American Express is doing double play: offer credit card services but make more money via platforms it is buying. Simply, it can offer discounted fees for users of these of platforms, triggering higher card transaction volume which translates to more charges as revenue. Interswitch Verve needs to study this playbook. Markets like it as the stock continues to rise.
American Express has today announced its intentions to acquire Resy, the CRM and reservation platform based out of New York. The terms of the deal were not disclosed. [...] American Express has been on a slight shopping spree of late. In March, the company announced it would be acquiring LoungeBuddy to make the travel experience less hellish for cardmembers. Amex also acquired a Japanese restaurant platform called Pocket Concierge in January. Last year, Amex also quietly acquired a UK-based, restaurant fintech startup called Cake for a reported $13.3 million.