American Express has just launched its new American Express Token Service, a suite of solutions designed to enable its card-issuing partners, processors, acquirers and merchants to create a “safer online and mobile payments environment for consumers.”
With the holidays fast approaching and new concerns about mobile and online payments safety entering the picture every day, American Express says its well-position to put minds at ease.
With American Express Token Service, traditional card account numbers are replaced with unique “tokens,” which can then be used to complete payment transactions online, in a mobile app or in-store with a mobile Near Field Communication (NFC)-enabled device.
The platform is available now in the U.S, but international rollout is expected to begin in 2015.
“We believe our payments network is a tremendous asset to American Express – one that will allow us to offer our customers new features and technologies to meet their evolving spending needs,” said Paul Fabara, President of Global Banking and Global Network Business for American Express. “As we move ahead, we are excited to bring these new capabilities to our customers and look forward to continuing to serve them.”