American Express (AXP) is working with Transaction Network Services (TNS) to provide a payment gateway service for e-commerce.
The service, announced Wednesday, allows card-not-present payments for multiple card brands and currencies. It uses TNS' tokenization system, which replaces the card account number with a reference value that cannot be misused by fraudsters. It also uses other fraud management systems from Amex.
"The American Express Payment Gateway will enable businesses to focus their efforts on expanding their market reach, while we manage the processing, security and service behind online card acceptance," said Suzan Kereere, Amex's senior vice president and general manager for global network business, in a press release.
Amex, of New York, has been adding products to expand its reach beyond the market for its traditional credit and charge cards. For online payments, Amex offers a digital wallet called Serve, which is tied to a prepaid card account. On Monday, Amex hired a former eBay (EBAY) executive, Neal Sample, to be a senior vice president on the Serve technology team.