Following Visa Checkout and MasterPass, American Express launched their new Amex Express Checkout service in July, but doesn’t want it to be labeled a wallet. Cardholders that login to view or pay statements online can use the same user ID and password to submit payments online via PCs, mobile web browsers and mobile apps, and American Express will provide the merchant with a token to process payment.
Like Visa and MasterCard, American Express is taking measures to make it as easy as possible for their cardholders to use Amex cards for online transactions, especially when coming from mobile devices. Digital wallets like PayPal expedite checkout by allowing a user to login with a username and password rather than type in a 16-digit credit card number, billing address, shipping address and other information. The two largest card associations launched Visa Checkout and MasterPass to offer this convenience, and while American Express is following suit there are some similarities and differences between the other card association wallets.