Coinbase & American Express Introduce The Coinbase One Card

Coinbase is teaming up with American Express to launch the Coinbase One Card, a sleek stainless steel credit card that lets users earn up to 4% back in bitcoin on purchases. Built for Coinbase One members and set to drop in fall 2025, the card blends crypto rewards with classic Amex perks—think roadside assistance, extended warranties, and zero foreign transaction fees. Amex sees crypto going "pangenerational," while Coinbase sees a “very natural fit” with Amex’s premium brand. As they put it, it's "Coinbase crypto powered by the American Express network". [Coinbase] [YouTube]

Cardless Unveils Embedded Credit Card Platform, with Coinbase as First Partner

Cardless, a fintech company known for powering custom credit card programs, just launched its embedded credit card platform, with Coinbase as its first big partner. This new tech lets brands like Coinbase build fully integrated credit cards (like the Coinbase One Card) directly inside their apps, no legacy bank required. Coinbase’s new Amex-powered card, coming this fall, offers up to 4% bitcoin back and plugs seamlessly into its digital ecosystem. As Cardless put it, brands no longer need to “become a bank” to issue a standout card. [Business Wire]

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Mastercard’s CMO on why AI will make marketers more powerful

Mastercard, the payments giant, is betting big on AI—but not in the way you might expect. Raja Rajamannar, its chief marketing and communications officer, says AI won’t replace marketers—it’ll supercharge them. As he put it, “with all these technologies coming, it will become very difficult to have a separate product organization and separate marketing organization, because products will get highly commoditized.” Speaking at Cannes Lions, Rajamannar predicted a revival of the classic “four Ps” of marketing, all folding back into marketing as AI levels the playing field. He’s convinced the “glorious days” of marketing are just ahead. [Ad Age]

American Express Announces Major Updates Coming to U.S. Consumer and Business Platinum Cards® Later This Year

American Express is gearing up for a "largest-ever" refresh of its U.S. Consumer and Business Platinum Cards®, with new perks, a design revamp, and even more premium experiences rolling out later this year. The updates target Millennials and Gen Z—who now drive 35% of Amex’s U.S. consumer spend—and include expanded lounge access (hello, new Centurion Lounges), boosted dining via Resy and Tock, and enhanced hotel and business benefits. Amex wants these cards to feel as elevated as they perform. [American Express]

The New Chase Sapphire Reserve and Introducing Chase Sapphire Reserve for Business

Chase just rolled out a major upgrade to its credit card game, unveiling the refreshed Chase Sapphire Reserve and debuting the Sapphire Reserve for Business, both launching June 23. The consumer card now packs over $2,700 in annual value with “8x” points on Chase Travel, a new $300 dining credit, and the new “Points Boost” perk, which doubles redemption rates on premium travel. The business version isn't shy either, offering over $2,500 in perks plus bonuses like a $400 ZipRecruiter credit and 3x points on digital ads—clearly aimed at high-spending entrepreneurs. Both cards come with a $795 annual fee, exclusive lounge access, and sleek metal designs worthy of showing off at the airport or the boardroom. [source]

Klarna expands into mobile phone plans with flexible, no-hassle service for 25M Americans

Klarna, the global digital bank and flexible payments provider, is dialing up disruption by launching an unlimited mobile plan in the U.S. for $40/month. Known for its "super smooth" buy-now-pay-later experience, Klarna now offers unlimited 5G data, talk, and text—no contracts, no hidden fees, and setup in just a few taps via the Klarna app. Backed by Gigs and riding on AT&T’s network, Klarna’s plan aims to make switching carriers as easy as checking out online. Mobile plans in the UK, Germany, and beyond are coming soon. [Klarna]

LemFi Acquires Pillar to Support Credit Services for Immigrants

LemFi, a fintech focused on immigrants, just acquired UK-based credit startup Pillar to supercharge its push into credit services, starting with credit cards. Pillar built tech to help immigrants overcome the "credit invisibility" problem, and now LemFi plans to roll out cards that recognize international credit histories and offer graduated credit building. With over 8,000 users in a fast-growing beta and plans to expand globally, LemFi is going full-stack to close the credit gap for the underserved. [LemFi]

Wealthsimple takes on Big Six with launch of credit cards and loans

Wealthsimple just declared “The End of Banking?” and backed it up with action—launching a no-fee credit card, an instant line of credit, and major upgrades to its chequing account. The Toronto fintech now offers “unlimited” 2% cash back, no FX fees, and up to 2.75% interest on chequing—all designed to take a bite out of the Big Six’s lunch. With 1 in 3 Canadians considering ditching their banks, Wealthsimple is betting that convenience, transparency, and zero branches are the future of finance. [Wealthsimple][The Logic]

Predatory Lenders in the Operating Room

Medical credit cards like CareCredit, backed by Synchrony Bank, are quietly turning vulnerable patients into high-interest debtors—often without clear consent or full disclosure. These cards lure people in with “interest-free” promos, but slap on retroactive rates as high as 26.99% if balances aren’t paid off in time, a trap that cost Americans $1 billion in deferred interest between 2018 and 2020. With the CFPB gutted under Trump’s second term, regulation is toothless, and states like California are left scrambling to limit the damage. Patients say they’re being signed up mid-treatment, sedated, or even misled outright—at the worst possible time. [The American Prospect]

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