This is an interesting offer from AMEX! Does it remind you of a similar operation from a little corporation called Wave?
"Your Digital Card comes with the same advanced fraud protection and world-class customer support as your physical Card, along with another layer of security – a security code that updates every five minutes. Making it nearly impossible for anyone to use your Card but you. Plus, your Digital Card only exists inside the Amex® App, where it’s encrypted. All of which means, even if your phone were lost or stolen, your Digital Card would stay safe – so safe you wouldn’t need to cancel it."