American Express Leverages Service and Security to Win Agentic Commerce

The rise of agentic commerce represents one of the biggest changes in shopping since the advent of eCommerce, Squeri wrote. It also adds new layers of complexity and risk that require management of identity, authorization, fraud risk and liability, he added.

American Express expects to capitalize on these needs by enabling purchasing power, delivering service and ensuring security for both consumers and merchants, according to the letter.

The company is already participating in agentic commerce by working with artificial intelligence companies to complete AI-assisted transactions and develop standards and protocols for agentic payments, the letter said.

This year, American Express plans to publish an American Express Agentic Commerce Experiences (ACE) developer kit that will enable partners to integrate its payment capabilities into their agentic experiences, enable select AI platforms to surface and activate its membership assets such as restaurant and hotel booking, and add new AI-powered experiences across its own apps, per the letter.

“The winners in this new paradigm will go well beyond basic payment functionality by offering differentiated value, service and security,” Squeri wrote in the letter.

In its commercial services business, American Express refreshed its U.S. Business Platinum Card, acquired expense management platform Center and announced a roadmap for expanding its B2B offerings, according to the letter.

“This roadmap includes a robust pipeline of new products and integrated business solutions planned for 2026, representing the most significant expansion of our commercial portfolio in a single year in our recent history,” Squeri wrote.

Overall, in 2025, American Express earned revenues that were 10% higher year over year and reached a record $72 billion, according to the letter. In addition, the firm saw spending on American Express Cards increase 7%, and it added 12.5 million new proprietary cards.

“Millennial and Gen Z consumers remained our fastest growing cohort, representing approximately 65 percent of new consumer account acquisition globally, and are now contributing the largest share of consumer spending in the U.S.,” Squeri wrote.