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Amex makes large step into making its digital wallet international

01/19/2012 Jesse Collins

American Express has announced that it will be making an important move to widen the reach of its digital wallet, Serve, into the international marketplace. This move makes Amex the first credit card company to launch a global partnership for the digital wallet with Lianlian Group, one of the top mobile payments providers in China. Furthermore, American Express has also invested $125 million in equity into Lianlian Pay. The Serve digital wallet is an integration of a number of different types of payment option into one account for the user,…

American Express announces intentions to put $100 million toward the Serve digital payment system

11/09/201111/09/2011 Julie Campbell

The largest purchase-based credit card issuer, American Express Co., has announced that it will be investing $100 million into technologies that will help it to develop the Serve system for digital payment. The New York-based company released a statement that said that it will be primarily making minority investments into “early state startups” that remain –for the moment- unnamed, for the purpose of developing products for mobile payments. AmEx is aiming to create better traction for itself in the rapidly growing mobile commerce and mobile payments market. This puts it…

American Express makes moves toward greater mobile expansion by way of acquisitions

09/16/201109/16/2011 Julie Campbell

According to its executive vice president, David Messenger, American Express Co. has been seeking certain sizeable international acquisitions in order to assist in its efforts to take advantage of a spike in demand for online commerce and mobile payments in emerging markets. Based on purchases, Amex is the largest issuer of credit cards in the world. Based in New York, it is now looking into deals in China and other developing regions, and, according to Messenger, it wants to make purchases of and investments into startups in Silicon Valley that…

Major credit companies come together to make mobile commerce more secure

08/31/201108/31/2011 Stephen Vagus

As mobile commerce begins to gain momentum among consumers, some major credit card companies are developing mobile apps that will boost the security features of NFC-enabled smart phones. Visa, MasterCard, American Express and Discover are all investing in NFC-powered mobile transaction, believing that the mobile commerce will become a favored payment medium in the future. Mobile commerce has been plagued with concerns over security, however, leaving many questioning whether the industry will ever become established. The security issues inherent in mobile commerce are quite glaring. Given that financial information must…

Wireless carriers to invest another $100 million in joint Isis mobile payment venture

08/31/2011 Jennifer Goula

Verizon, AT&T, and T-Mobile are getting ready to spend an additional $100 million on their combined venture for mobile payment, which they have called Isis. Isis is a contactless payment system based on near field communication (NFC) technology, which is expected to play an important role in the highly competitive upcoming mobile payments marketplace. Bloomberg has stated that the carriers have yet to make the final decision regarding the total amount that they are willing to spend based only on the ability of Isis to obtain merchant and bank support,…