AmEx launches Serve app for P2P payments on Facebook

AmEx launches Serve app for P2P payments on Facebook

American Express has launched a Facebook app for its Serve digital wallet platform, enabling customers to send, receive and request money from directly within the social network.

To make a payment, registered Serve users choose a recipient (Facebook friends are automatically populated directly into the app's interface) to send money to, enter the dollar amount, and click send.

Once completed, a message is immediately posted to the recipient's Facebook wall providing directions on where to collect their money or to sign up for Serve. Users can also request money through the app, picking the relevant Facebook friend who owes them and sending a request.

Dan Schulman, group president, enterprise growth, American Express, says: "We're constantly working to bring our customers a seamless and consistent payment experience - one that makes sense for our increasingly social lives, whether that's paying a friend back for movie tickets or sending someone money for your share of the vacation house - it can now be sent on Facebook."

AmEx claims the Serve app is unique on Facebook because it allows friends to send, request and receive payments. However, in November PayPal introduced a similar app that lets users send money to friends within the social network. India's ICICI has gone a stage further, with a Facebook app that lets customers carry out banking tasks without leaving the site.

Comments: (1)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 02 March, 2012, 16:11Be the first to give this comment the thumbs up 0 likes

ICICI Bank has pushed the envelope on technology adoption, as I'd written in this and this Finextra blog post. But half its Facebook App revolves around cheque books and such 'old-age' products and the other half certainly doesn't permit P2P payments via FB. AmEx Serve's claim to uniqueness with such an offering faces no challenge from ICICI Bank! As for PayPal, I'd be happy to learn more from people who've actually tried it.