American Express Co. is using its Serve digital wallet in a partnership with the student hub Chegg to allow college students to receive faster payment from selling textbooks.
"Our collaboration with Chegg is extending our reach into college and university populations and delivering true value for these students," says Stefan Happ, senior vice president and general manager of online and mobile at Amex, in an April 16 press release. "We are delighted to be working with Chegg and to have the opportunity to extend American Express benefits to students without the hassle of credit checks or hidden fees."
Through the partnership, students can sign up for a Serve stored-value account after setting up a textbook sale on the Chegg website. The student then receives a prepaid card with the funds.
"Saving students time, money and helping them get smarter is what Chegg is all about," says Elizabeth Harz, vice president of business development for Chegg, in the release. "Teaming with Serve helps us deliver on this charter and provides American Express an authentic connection to this important and influential audience of 18 to 24-year-olds."
Customers can receive a $10 credit if they open a Serve Account and make a purchase before August 30.
College students, which are usually early adopters of new technology, are a sought-after demographic.
