American Express travelers check group has signed an agreement to acquire Special Teams Inc., a company that designs payment systems based on stored-value cards.

The acquisition, announced Monday, signals American Express Co.'s intention to expand into electronic stored-value businesses.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.