American Express Co. is hitting the streets in Eugene, Ore., to promote Serve, its digital wallet for those consumers who are turned off by the elite branding of its main product line.

To succeed, Serve must win over consumers who already have numerous mainstream and alternative payment products to pick from. Serve's benefit to merchants is clear: Since it is tied to a prepaid card, Serve costs them less than Amex credit cards do. The benefit is also clear to Amex, which is aiming to attract a wider audience.

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