American Express Co. plans to discontinue its Express Pay contactless key-chain fob by July 31 to concentrate on promoting contactless payments using conventional cards.
"We didn't see much uptake with the fob, so we've decided to focus our efforts on our cards," Molly Faust, a company spokeswoman, said in an interview Monday.
American Express, which introduced the payment fob in 2002, also offers contactless payments on its Blue and Clear cards and its Starwood preferred-guest cobranded card, Ms. Faust said.
