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American Express launches $100M digital commerce investment fund

10 ноября 2011

American Express is launching a multi-year, $100 million investment initiative designed to help target and develop new digital commerce technologies. AmEx will focus its efforts on early-stage startups working across various elements of the overall digital commerce experience, including mobile and online payment management, loyalty and rewards, fee-based services, security and fraud detection, and data analysis.

Harshul Sanghi, recently named managing partner of American Express' Enterprise Growth Group, will lead the fund out the financial services provider's new Silicon Valley office. Sanghi previously ran Motorola Mobility Ventures.

American Express introduced its Serve m-commerce platform in March. Serve unifies multiple payment options into a single digital account that consumers can fund from their bank account, debit, credit or charge card, or by receiving cash from another Serve account. After users set up an account at Serve.com or download the appropriate Android or iOS application, they can send and receive money, pay bills and make online purchases. In addition, AmEx issues each Serve subscriber a reloadable prepaid credit card linked to their account, which they can use at any merchant or ATM that accepts American Express. AmEx has signed Serve partnerships with Sprint and Verizon Wireless.

American Express (as well as rivals Visa, MasterCard and Discover) has also committed support to Isis, the mobile commerce joint venture spearheaded by Verizon Wireless, AT&T and T-Mobile USA. According to Isis, partnering with credit card providers significantly expands the payment options available to mobile subscribers, at the same time extending the fledgling network's reach to encompass payment terminals already installed at U.S. merchant locations. Isis is expected to roll out consumer trials in early-to-mid 2012.

Источник: FierceMobileContent

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