Amex’s Online Gift Card Expands Issuer’s Digital Payment Product Line

American Express Co., which lately has been rolling out prepaid and digital-payment options to expand its audience, has added yet another product: an electronic gift card.

Amex designed the nonreloadable eGift Card for use solely online; the New York-based company does not offer a plastic card to go with it.

The issuer launched a more flexible digital payment product in March called Serve, which can be paired with a plastic card for point of sale payments (see story). Serve is meant to attract a broader audience than Amex reaches with its credit cards, which the issuer typically markets as high-end products.

In June, Amex began offering a low-fee prepaid card to further broaden its appeal to the masses (see story).

The eGift card, announced Sept. 6, satisfies “a growing need among consumers,” Stefan Happ, senior vice president and general manager of the Americas for Amex’s global payment options, said in a press release.

The eGift Card costs $2.95, and consumers may purchase one in values from $25 to $200. Amex delivers the product by email.