Based on the Revolution Money P2P payments platform Amex acquired last year, Serve was unveiled in March, enabling users to buy goods and make person-to-person transfers online and through mobile phones.

Amex and Verizon say they will also collaborate to source, distribute and simplify redemption of online and mobile offers with participating merchants through the use of the Serve account. For example, as customers redeem certain offers or coupons using their mobile phones, the credit may automatically appear in their Serve account.

Verizon - a founder member of the Isis m-payments carrier consortium - is hedging its bets in the nascent field of mobile payments, collaborating with multiple partners on a range of payment options. In June, the carrier said it would offer consumers a direct bill-to-phone option through a partnership with New York-based Payfone.

Verizon recently joined American Express in a $19 million funding round for Payfone, which lets consumers link their mobile phone numbers to various payment methods and then use it to make online purchases.

The two companies say they are working with Payfone to support Serve checkout on Verizon Wireless devices. Payfone's pre-authorization and intelligent routing features will help Verizon Wireless customers who use the Serve application make mobile payments simply and securely, they say.

Greg Haller, president, enterprise & government for Verizon Wireless, says: "Our commitment to building the entire mobile payments ecosystem, through our Isis joint venture and now with Serve, gives customers incredible new ways to use their mobile devices."