Verizon And American Express Partner For Mobile Payments

Verizon Wireless has joined forces with American Express to provide customers with a brand new shopping platform called Serve, on which they will be able to make purchases via their phones, using their phone number as a verification tool.

The new tie-up between the two companies will see Verizon integrating American Express’ digital payment and commerce offering into its tablet devices and phones. However, unlike the other initiatives taken by various brands to allow consumers to purchase goods by simply tapping their phones on a payment terminal, the new service by Verizon will also allow consumers to make online purchases from sites such as ebay and Amazon as well.

"The two of us coming together would make a powerful statement in terms of the advent of m-commerce coming to the forefront," Dan Schulman, president of enterprise growth for American Express, said, referring to mobile commerce, Cnet reports.

The two companies have also revealed that they will be working together with start-up Payfone, to facilitate the one click checkout service for consumers. Verizon earlier inked a deal with Payfone which allows the telecom giant’s customers to purchase goods via their phone browsers. Both American Express and Verizon are investors in Payfone.