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American Express And Isis Link Platforms For Mobile Wallet

Posted On: 8/13/2013

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TAGS: mobile payments, cashless vending, American Express, American Express Serve, Isis Mobile Wallet, NFC-enabled payments, Dan Schulman, mobile loyalty card, OPEN Small Business Cards

NEW YORK CITY -- American Express and Isis have introduced American Express Serve for the Isis Mobile Wallet. The cobranded account will be offered in every Isis Mobile Wallet as a part of a nationwide launch later this year, enabling users to tap and pay using their American Express Serve accounts.

By adding American Express Serve to the Isis Mobile Wallet -- a joint venture between AT&T Mobility LLC, T-Mobile USA Inc. and Verizon Wireless -- mobile wallet users will be able to add cash to their American Express Serve accounts or fund them using their existing bank accounts, any credit or debit card, or through direct deposit and tap and pay with their phones at any NFC-enabled retail location that accepts American Express. Customers will also be able to pay bills online and send money to friends and family using their American Express Serve accounts.

"Linking the platforms will allow millions of people to conveniently and inexpensively manage and move their money," said Dan Schulman, group president at American Express. "From the palm of your hand, consumers -- including those without access to traditional bank accounts or credit -- can have access to everyday financial services. And our combined solution works in today's retail environment, and in the emerging 'tap to pay' point of sale ecosystem."

The Isis Mobile Wallet uses near field communications technology to allow consumers to pay, redeem coupons and present loyalty cards with their mobile phones. American Express's U.S. Consumer and OPEN Small Business Cards are also available in the Isis Mobile Wallet. Isis recently announced plans to expand nationwide later this year. | SEE STORY