The Isis Mobile Wallet is stepping up its game by adding American Express Serve to its wallet launch later this year. The American Express/Isis Mobile Wallet co-branded account will offer an alternative for customers who don’t use traditional bank accounts—known as the underbanked—and for people who want a fee-free way to make transactions.
Everything a checking account can do
The prepaid American Express Serve account lets customers send and receive money, pay bills, directly deposit paychecks, and pay for items using the tap and pay system. Making the Serve platform available to Isis Mobile Wallet users means people can access their accounts with a smartphone and manage their account with the swipe of a finger.
Here are some of the features of the American Express Serve account that will be easily accessible through the/Isis Mobile Wallet:
- Online bill payment– customers can pay phone bills, electric bills, credit card and other bills using Serve.
- Funding their accounts—put money into the Serve prepaid account through direct deposit or using a debit or credit card.
- Sending money to friends and family—transfer money to someone if they also have a Serve account using a person-to-person payment (P2P).
- Direct deposits—paychecks and benefits can be sent directly to the American Express Serve account and accessed through the Isis Mobile Wallet.
- Tap to pay—any merchant that accepts American Express and has a near field communications (NFC) enabled point of sale system will be able to accept a Serve payment from a customer with the Isis Mobile Wallet.
Prepaid accounts are increasing in popularity among people who can’t qualify for a bank account and people who don’t want to pay the fees often associated with regular checking accounts. The Isis Mobile Wallet/American Express partnership ups the ante and takes the mobile wallet industry a step further.