International

Fidel Targets US Market In Expansion Of Card-Linking Technology

Fidel Targets US In Card-Linking Technology

U.K.-based Fidel, which builds out tech infrastructure for card-based loyalty reward programs, is jumping across the pond to expand into the U.S. market, while also appointing a new executive to lead the effort.

The FinTech announced on Thursday (July 16) that it has opened a New York office, a decision that follows similar moves in Canada and the Nordics.

Fidel said it has also named Patrick Nealon, formerly of American Express Ventures, to oversee its American expansion. At Amex Ventures, Nealon focused on partnerships with startups. Prior to that, he worked on Visa's corporate strategy team in San Francisco.

The motivation was driven by rising interest in the U.S. in the use of  “card payment infrastructure to personalize customer experiences, enhance financial services and streamline business operations,” Fidel cited in a press release emailed to PYMNTS.

Fidel offers a suite of APIs that can be used to link cardholders to loyalty reward programs and other apps. At the core of its business model is its partnership with the three major credit card giants — Mastercard, Visa and American Express — which gives it access to real-time data from their networks.

“There is a massive opportunity for Fidel to meet demand from American firms keen to use our API,” Nealon said in the release. “The size and dynamics of the U.S. market make the States a great destination for European FinTechs as well. I'm excited to support the progress already made in North America by my Canadian colleagues, and I look forward to seeing what our partners will build on top of our API.”

Fidel said that its new U.S. operation has inked partnerships with businesses and organizations including Beyond, BAMit, giveback2schools and Twism. The companies join a roster of clients that includes British Airways, Royal Bank of Canada and Klarna.

Last September, Fidel raised $18 million in Series A funding from investors co-led by U.S.-based Nyca Partners and QED.

——————————

NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

TRENDING RIGHT NOW