American Express to launch Serve, a PayPal competitor

By Andrew Couts March 28, 2011

PayPal’s enviable position as the go-to digital payment platform may soon be on shaky ground. According to an official announcement released this morning, credit card giant American Express has its own payment system in the works, which will take direct aim at PayPal and other emerging payment platforms.

The service, dubbed Serve, will share many of PayPal’s features, including fund transfers, ATM withdrawals, and person-to-person payments. Serve users can connect their account to be funded by multiple accounts, including debit or credit cards, bank accounts or from another Serve account.

Serve, which can be accessed online at Serve.com, through apps for iPhone or Android-based devices, or through Facebook, will initially be accepted anywhere that takes American Express credit cards, though the company says it could expand Serve through the adoption of technologies, like the near-field communication (NFC) payment option.

“We intend to quickly evolve the Serve platform by adding new features and functionality as we learn from consumer and merchant experiences,” said American Express group president of enterprise growth Dan Schulman in a statement. “To encourage a broad cross-section of people to experience the benefits and convenience of Serve, we are working with a range of partners to integrate Serve as a payment method and deliver customized offers, and we will waive most consumer fees for the next six months.”

While the absence of fees may sound enticing, Serve isn’t free: AmEx will charge 2.9 percent plus $0.30 anytime money is put into a Serve account. ATM withdrawals will cost $2.00, after one free withdrawal each month. (PayPal has similar fees.)

American Express’ announcement about Serve comes just two weeks after Visa revealed that it, too, would be entering the digital payment market. Other digital payment upstarts that have PayPals number are Venmo and Square.

News of Serve’s launch comes only hours after news that Google, Mastercard and CitiGroup plan to team up to test NFC “digital wallet” technology in select cities.

Topics

Mobile

Former Digital Trends Contributor

Features Editor for Digital Trends, Andrew Couts covers a wide swath of consumer technology topics, with particular focus on…

Computing

Best desktop computer deals: The cheapest PC deals today

dell inspiron desktop deal april 2023 pc lifestyle

While many people may prefer laptops, desktops offer many great benefits, too, from being able to change and customize the hardware to being able to handle heavier loads, such as playing some of the best PC games. They can also be a good starting point if you don't want to spend a ton of money but instead buy a good base to upgrade in the future. Pricing is also a bit all over the place, but generally, you can get some pretty great desktop deals, even on the best desktop computers on the market.

That's why we've gone out and found our favorite deals that will give you the best bang for your buck so that you don't get too overwhelmed with all the options out there. Also, if you're looking for something better suited to gaming, then you may want to check out these gaming PC deals as well.
Lenovo IdeaCentre 3i Desktop -- $300, was $400

Computing

Best deal ever? Get 80% off PureVPN and an Uber Eats voucher

A close-up of a computer monitor displaying a generic VPN.

Everyone should sign up to a virtual private network, so if you're looking for VPN deals, here's one that you wouldn't want to miss -- two years plus three extra months of PureVPN's Max Plan at 80% off for just $4 per month, for a total of $108 for 27 months. That's $16 in savings per month for dependable online protection, and to top it off, you'll be getting an Uber Eats voucher worth up to $30. We're not sure how much time is remaining on this offer though, so if you're interested, you're going to have to sign up for the subscription immediately.

Why you should sign up for PureVPN Max Plan
A VPN is a necessity in this digital age because it will protect your data from being accessed by cybercriminals. It will also help you get around any geoblocking restrictions as you can have your device appear as if it's located in another part of the world. PureVPN is one of the best VPNs for these purposes, as it uses a global network of more than 6,500 servers that are located across dozens of countries.

Computing

Razer’s most boring product is also one of its best

The Razer Iskur V2 gaming chair in an office.

Razer isn't exactly known for subtlety. This is the company that released a Bane-like RGB face mask, a headset with haptic feedback, and most recently, a mouse pad that has RGB lighting from corner to corner. The Iskur V2 chair is an exercise in subtlety, however, and a change of pace that pays off for Razer in a big way.

There's nothing special about the Iskur V2 at first glance. It's a gaming chair fit with the usual racer-style back and some green trim to let you know it's a Razer product. But there are no motors promising immersive haptic feedback, and no RGB leaving you tethered to a wall outlet (yes, Razer has done both in a chair before). The Iskur V2 is just a well-designed, comfortable chair, and that's exactly why it's so impressive.
Out of the box