American Express is putting real efforts and time into digital payments on Monday by unveiling Serve. The approach gives Android and iOS devices, as well as Facebook, a way to to pay friends or bills without having a traditional credit or debit card. It can be loaded up with credit or debit but also works with direct bank accounts and direct-from-Serve payments.
The approach is also a way of giving younger owners a way of paying for goods without a credit card. In addition to the online method, Serve users can get a prepaid card that works like an AmEx card for retail stores. Parents can create sub-accounts that they can track to make sure a teen is keeping spending in check.
The core app is free and available today for both Android 1.6 or great; as well as iPhones, iPads and iPod Touches running at least iOS 3.0.
