Isis agrees deal with American Express over mobile payments

12 August 2013

Mobile payment provider Isis is set to extend its upcoming services beyond the typical use of Near field communication (NFC) after it reached an agreement with American Express to use its Serve facility.

The card company agreed to implement many of its products to the Isis wallet, allowing people to make payments from their accounts using NFC.

Under the new deal all customers will be offered an integrated American Express Serve account when Isis launches across the US later in 2013.

Dan Schulman, group president of enterprise growth at American Express, said linking the two platforms will "allow millions of people to conveniently and inexpensively manage and move their money" and consumers without traditional bank accounts or credit "can have access to everyday financial services".

According to the Federal Deposit Insurance Corporation, nearly 70 million Americans do not have bank accounts or access to credit. By adding alternatives to traditional banking services at a low cost to the Isis and American Express Serve experience, the firms are now able to provide a service proposition to millions of people who need it.

By Tony Aynsley

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development