Program Overview and Industry Context
American Express has launched “Travel Stamps”, a new initiative that awards non-fungible tokens (NFTs) to cardholders after they complete international transactions. These digital stamps, part of the “Amex Passport” travel app, are recorded on a public blockchain, creating a verifiable record of a user’s travel history. The program aims to enhance customer experience by blending travel with digital ownership, though it also raises questions around real-world utility, data privacy, and digital asset security.
This move reflects a broader trend in the travel industry, where companies are increasingly exploring blockchain for loyalty programs and operational traceability. American Express Global Business Travel has previously engaged in blockchain initiatives focused on sustainability, such as the Avelia project with Shell and Accenture, indicating a strategic interest in applying distributed ledger technology beyond payments.
Functioning, Risks and Implications
The process is straightforward: when a cardholder makes a purchase abroad, they automatically receive a unique NFT that serves as a timestamped proof of travel. By storing these stamps on a public blockchain, Amex emphasizes transparency and immutability.
However, this approach introduces certain risks. While the blockchain itself is secure, the safety of these NFTs ultimately depends on how they are stored and managed—particularly in external wallets. If a user’s wallet is compromised, their travel stamps could be stolen, highlighting the need for robust custody and recovery solutions.
The success of the program will likely depend on whether these NFTs deliver tangible benefits—such as exclusive perks, insurance advantages, or even visa application support. If perceived as merely decorative, adoption may remain limited. For the broader market, Amex’s entry into digital assets represents another step toward the convergence of traditional finance and blockchain, potentially influencing future regulations around digital ownership and data flow.
The rollout is already underway, and the next phase will focus on user adoption and the introduction of practical, real-world utilities that could transform Travel Stamps from a novelty into a meaningful feature.
