The news: American Express and Fanatics unveiled a co-brand credit card issued by First Electronic Bank that will run on Amex’s network, per a press release. American Express will also become Fanatics’ official payment partner for qualified in-store and online Fanatics locations.

Fanatics will become an Amex Membership Rewards transfer partner within the next year, making credit card points convertible into Fanatics FanCash for redemption across Fanatics’ ecosystem.

Why this matters: The Fanatics card expands the portfolio of cards—and volume—that run on American Express’ network. 

The deeper partnership with Fanatics also gives Amex another avenue to reward loyalty among sports enthusiasts: Nearly 80% of Amex’s consumer members consider themselves sports fans, per an internal survey. 

FanCash and Fanatics-exclusive benefits could attract Amex members who want to redeem rewards for sports apparel, tickets, collectibles, and exclusive event experiences. The partnership could also help Amex capture more spending at NFL events, where it serves as the league’s official payments partner.

Zooming out: Rival payment providers have also latched onto sports partnerships as a marketing strategy.

• Visa continued its long-term tie-up with the Olympic Games.
• Mastercard has focused on high-profile athlete deals through a campaign with Lionel Messi and branded on-field mascot appearances.
• Venmo tailored marketing toward younger users through partnerships with Big Ten and Big 12 student athletes.

While Visa has banked on wide logo visibility during major events, Mastercard and Amex have leaned more into experiential marketing, where experiences and emotional memory-making drive brand attachment. Amex’s tie-up with Fanatics could potentially deepen on-site activations at NFL events with more custom merchandise opportunities, similar to previous pop-ups at the US Open.

Implication for payment providers: Sports remain a payment volume engine for US consumers, even as discretionary budgets tighten. Household spending on spectator sports hit record levels last year, with consumers spending an average of $1,122 on sports annually, per Bank of America’s 2024 Market Landscape Insights report.

Research suggests that sports sponsorships can change fan behavior: Over 2 in 5 college sports fans consider sports sponsors before making a purchase decision, per Big Chalk. This means sports sponsorship can garner more attention for payment companies and build deeper awareness of their card products and installment plans.