American Express announced a global mobile payment service today in partnership with its new partner Payfone. The partnership will combine Payfone’s payment authorization and processing services with American Express’s recently announced Serve digital payment offer.
“Serve is an innovative, secure, digital payment and service platform designed for the way you live. Serve is designed to address the changing ways consumers interact and exchange money — with one another, and with merchants. Provided by American Express*, a respected, global payment and travel company for over 160 years, Serve intends to create a new paradigm in the way we use money.
Serve offers you multiple payment options, including person-to-person (P2P) money transfers, mobile payments, in-store card payments and online transactions – all combined in a single, unified account.”
From the press release:
“This alliance brings together Serve’s unified online, mobile and real-world functionality with Payfone’s advanced mobile authorization and payment services to deliver a seamless payment solution,” said Dan Schulman, Group President, Enterprise Growth, American Express. “The alliance is an important next step for the international roll out of Serve. We look forward to working with Payfone as we evolve the Serve platform to provide the most advanced payment solutions for buyers and sellers, while setting new standards in security, simplicity and reliability.”
“This relationship will be a defining force in the industry. By teaming up with American Express’ new digital payments platform, Serve, we are not only delivering greater choice to consumers and merchants, with one of the most comprehensive and advanced e-wallets in the industry, we are also enabling mobile operators to participate in the transaction flow and benefit from an entirely new revenue source,” said Rodger Desai, Co-founder and Chief Executive Officer of Payfone. “Over 5 billion people worldwide currently have mobile phones, however less than 2 billion have credit cards. It’s our goal to make the mobile phone number the new accepted way to pay. We look forward to working with American Express and our mobile operator partners in defining and driving the mobile payments industry.
From NFC Times:
“AmEx also issues contactless cards in the United States, and its ExpressPay brand is accepted on terminals at nearly all of the total 100,000 to 150,000 merchant locations that also accept Visa payWave, MasterCard PayPass and Zip from Discover Financial Services.
For speedy transactions, AmEx would likely need to get its ExpressPay application loaded onto secure chips in NFC phones. Transactions conducted over the mobile network would take too long to be acceptable for many types of merchants, such as fast-food outlets, convenience stores and supermarkets.”