Serve platform integrates multiple payment options into a single account. Consumers can set up the Serve account at Serve.com or through a smartphone application and add funds from bank accounts, debit cards, credit and charge cards, or other Serve accounts.
The account holders will be issued a Serve reloadable prepaid card linked to their Serve account that can be used at any merchant or ATM that accepts American Express cards.
Users of the Serve platform can access their accounts via Serve Apple iOS Android applications, at Serve.com and through Facebook.
They can also create, manage, and specify sub-accounts for their friends, family members or colleagues, which will be inked to the master account.
For the first six months, American Express waived the fee for putting money into a Serve account using a credit card.
American Express said that the new platform is aimed at consumers who currently rely on cash, check and debit card and it will expand the service into new segments of the market that do not rely on traditional charge and credit cards to manage their day-to-day finances.
Currently, the Serve is available to anyone in the US and is expected to be launched into other international markets over the coming year.
