American Express (Amex) has launched digital
P2P platform Serve, designed to unify multiple payment options and
aimed at cash-led consumers.
Consumers can make purchases and P2P payments
online via mobile phones and at any merchant that accepts Amex
cards. Serve accounts can be funded by a bank account, credit,
debit or charge card, or by receiving money from another Serve
account.
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As the platform is claimed to ‘bridge the gap’
between online and offline commerce, Amex will use Serve to expand
into new segments of the market that do not rely on traditional
charge and credit cards to manage their day-to-day finances.
“Serve is a new type of payment platform that
isn’t tied to a single card or mobile operating system,” said Dan
Schulman, group president for enterprise growth at Amex.
“It’s a flexible, easy to use platform, which
from day one brings tremendous assets to the alternative payments
space and gives consumers an option to shop on-line and off-line at
millions of merchants who accept Amex.”
Schulman also said Amex intends to quickly
evolve the Serve platform by adding new features and
functionalities as it learns from consumer and merchant
experience.
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By GlobalData“A cornerstone of the long-term vision of
Serve is developing partnerships with commerce, gaming,
entertainment and social networking organisations,” said
Schulman.
Ticketmaster, Concur and Flipswap have all
partnered with Amex to use the Serve platform to deliver relevant
offers that drive spend and build loyalty.
Ticketmaster will offer Serve as a platform
for customers to make and collect payments toward ticket purchases
from other customers. Concur will utilise Serve as an expense
management and reimbursement method for transactions processed via
Concur’s small business expense reporting service, Concur Breeze.
Flipswap will use Serve to issue refunds more quickly to consumers
who sell or trade in their old mobile and cell phones for reuse or
recycling.
Additional partnerships are expected to be announced over the
coming months.
As an incentive for consumers, Amex will waive
the 2.9% + 30c per load fee for the next six months.
