Amex “Express Checkout” Makes Online Shopping Easier, More Secure
As online shopping continues to grow at a steady rate (the current long term average annualized growth rate is 16.68%), financial service providers continue to offer up their own digital payment options.
Last July, American Express introduced its new online digital payment platform, Amex Express Checkout. This platform joins other payment solutions, including PayPal®, Visa Checkout, MasterPassTM by MasterCard® and Google Wallet. And while Amex Express Checkout certainly isn’t the first online payment solution, it does offer one distinct benefit: users can complete their purchases by simply entering their American Express account login information.
This means American Express cardholders don’t have to enter their card details, which creates a more secure payment environment. Plus, shipping and payment information is filled in automatically, saving cardholders time and effort.
Some of our team members at Media Logic have used the payment service and found it incredibly easy to use. Here’s how it works:
- Select Amex Express Checkout as your payment option.
- Log in with your American Express online account password.
- If you have multiple American Express cards, select which one you would like to use.
- Your shipping information will be automatically populated.
- Verify your information and click “Pay.”
Because American Express is both a payment network and a credit card issuer, cardholders are able to use their existing account login. There is no need to set up a separate payment account and add eligible cards. All you need is an American Express card and an online account.
However, while this new checkout service has many advantages, it has two big weaknesses. First, it only works with eligible American Express credit cards versus other payment systems that allow you to add multiple credit or debit cards. Also, there is currently very low merchant participation. Since its launch last summer, there are still only 13 online merchants that offer Amex Express Checkout. Meanwhile, Visa Checkout alone is supported by more than a quarter million large and small merchants.
Still, this evolution in online payment services offers a new solution to the growing problem of identity theft and online fraud.
