Digital payment services are starting to be a lucrative business, and the latest entrant in the field is American Express (NYSE:AXP) with its new "Serve."
Dubbed "Serve," the service allows customers of American Express to make payments from and into one account in a variety of ways, including a charge card, credit card, debit card and bank account.
Users can use their mobile phones, online accounts or any store where American Express is accepted to make payments.
The new service targets customers who do the majority of their business with debit cards, cash or checks.
At this time only American customers can use the service, but the company said it'll roll it out to international customers throughout the next year.
You also don't have to own an American Express card in order to use "Serve," as it will work with any regular bank, debit or credit account, including competitors like Discover (NYSE:DFS) and Mastercard (NYSE:MA).
American Express closed Monday at $45.72, up $0.13, or 0.29 percent.
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