American Express

Verizon Wireless in association with American Express are integrating Serve online payment system for the use in mobile phones and tablets.

Customers may fund their Serve accounts via an existing credit or debit card or checking account, and then make purchases from a mobile device. The payment is authenticated with the user's mobile number.

Besides, customers will be given a Serve card when signing up for the service. This card then can be used for in-person purchases in stores.

Second quarter profits of American Express increased by 31% according to the report posted by the credit card network.

According to the data average spending by consumers on their American Express cards for the quarter rose by 15% to $3,767 from the same period a year ago.

Isis, a joint venture company conjointly owned by AT&T Mobility, Verizon Wireless and T-Mobile USA, announced the new partnership with Visa, MasterCard, Discover and American Express — all four of the major US payments networks.

"Isis' relationships with all four payment networks means that with Isis-enabled phones and payment terminals in place, merchants and consumers will have ubiquity and freedom of choice when it comes to payment network acceptance," says the company.

American Express has entered into a partnership with Sprint to offer mobile customers an access to ServeSM, a recently launched digital payment platform from American Express. It is the first relationship with a mobile carrier since the service launch in March.

Now Sprint customers will be able to use Serve mobile wallet application on their select Android-based smartphones. Sprint customers with these devices can find Sprint Zone, which also provides Sprint account information, recommends apps and more, as an icon on their Sprint mobile device.

American Express is launching a new program to allow its Cardmembers to pay for Facebook Ads by means of Membership Rewards points, the first time in the history rewards are redeemed this way.

With the addition of Membership Rewards points as a payment option, business owners now have a powerful new way to build their businesses through the rapidly growing area of social media advertising.

American Express in alliance with foursquare announced the national rollout of their new service following a successful pilot at South by Southwest in March. The service allows American Express® Cardmembers who link their foursquare profiles to their cards to “load” and seamlessly redeem merchant Specials without the need for coupons, special codes, or showing their mobile devices to cashiers.

American Express announced that it will offer to AOL’s Patch a digital payment and commerce platform dubbed Serve. Customers will be able to register for Serve accounts via hundreds of Patch sites.

Patch will also offer users the ability to redeem local deals and transact with local merchants via the American Express network. Through the partnership, local merchants will be able to post offers online in a more streamlined, effective way, and consumers will benefit by redeeming offers at the point of sale.

American Express announced the launch of a new reloadable prepaid card with no activation or maintenance fees.

Customers pay no fees for purchasing the Card online, monthly maintenance, activation, balance inquiries, alerts, Card replacement, foreign currency conversion or loading via bank account.

Besides, the funds on the Card do not expire, and if lost or stolen, the funds can be replaced. The first monthly ATM cash withdrawal is free, after which a $2.00 fee applies (bank network charges may also apply).

According to Bloomberg the state of Hawaii dropped out of a lawsuit accusing American Express Co. of violating federal law by preventing merchants from steering customers to cheaper forms of payment. 

American Express has launched Serve, a new digital payment and commerce platform to provide consumers with more ways to spend, send and receive money with services that go beyond the existing global payment networks.

Using Serve consumers can purchase or make person-to-person (P2P) payments online, via mobile phones, and at millions of merchants who accept American Express cards. Serve combines different payment options under a single account that is funded from a bank account, debit, credit or charge card, or by receiving money from another Serve account.

Additional $500 million losses are expected by American Express who says that its expenses on lawsuits and governmental examinations may exceed the sum assigned for these matters.

A largest US credit card lender and processing network estimates that a range of possible loss of "zero to $500 million in excess of the accrued liability (if any) related to those matters," according to its annual report filed with regulators on Monday.

Lobbyists for big banks and credit card companies started lobbying the Congress to postpone implementation of the regulation limiting credit card fees charged for transactions.

American Express has announced that it is going to buy Loyalty Partner, a company best known for the loyalty program it operates in Germany, Poland and India.

Chinese largest card network China UnionPay has signed a memorandum of understanding with American Express that stipulates the two companies will be exploring the expansion of their current cooperative activities.

Over the past several years China UnionPay and American Express have cooperated within China where American Express Cards run on the China UnionPay network. Under the new MOU the working teams of both entities will develop potential new areas of cooperation between them within China and in markets outside of China.

American Express is offering a new shopping tool inSite(SM) which delivers Membership Rewards(R) bonus points, discounts, free shipping and other special benefits exclusively to American Express Cardmembers as they shop online.