American Express is adding financial management tools to its Serve and Bluebird prepaid cards and is expanding the cards' cash reload network.
The two cards run on the same platform, which also supports
During this four-month period, the Serve platform handled $1.9 billion in transactions, triple its volume from a year earlier and representing an annual run rate of almost $6 billion. American Express plans to add another Serve-based card, called One VIP, in collaboration with Radio One on June 16.
Amex is steadily expanding the cash reload network for its Serve platform. The New York card network has added Family Dollar to its network, which now includes 27,500 stores including CVS, Walmart and some 7-Eleven locations.
Some of the momentum in Serve card enrollment can be attributed to the Isis mobile wallet, which is operated by AT&T, Verizon Wireless and T-Mobile. Isis allows users to obtain a Serve card when they start using the mobile wallet, and the carriers use their stores' sales staff to sign up customers for both products.
Isis activates about
With Serve's new personal financial management tools, customers will be able to access a variety of budgeting features online and create spending alerts and a financial plan.
American Express