AMERICAN EXPRESS ANNOUNCES OFFICE DEPOT AND BRAUM'S ICE CREAM AND DAIRY STORES TO ACCEPT EXPRESSPAY FOR CONTACTLESS PAYMENTS
New York, NY, August 22, 2007 -- American Express today announced Office Depot and Braum's Ice Cream and Dairy Stores as the latest merchant partners to accept ExpressPay from American Express®. Office Depot is the first office supply company that plans to accept contactless payments at its 1100 locations nationwide and will roll out the technology later this year. Braum's Ice Cream and Dairy Stores is a regional merchant with 276 retail stores throughout Oklahoma, Kansas, Texas, Missouri and Arkansas that already accepts the contactless technology at all their locations.
"We are pleased to announce this robust list of merchant partners," said Leigh Malnati, vice president of Cardless Payments at American Express. "The adoption of contactless payments is growing rapidly as more merchants and consumers across a wide range of industries begin to use this technology and experience the benefits."
ExpressPay from American Express is a contactless payment option that consists of a secure chip powered by radio frequency technology. The feature is an easy-to-use alternative to cash for making everyday purchases at merchants where speed and convenience are important -- such as quick service restaurants, supermarkets, drug stores and gas stations.
American Express was the first issuer to launch contactless Cards nationally with the rollout of Blue from American Express® with the ExpressPay feature in June 2005. ExpressPay is also embedded in the Starwood Preferred Guest® Credit Card, Clear from American Express® Card and available via a key fob that can be linked to any American Express® Card. Users simply hold the Card or key fob with ExpressPay to a reader near the register to complete an eligible purchase. Payment is authorized in seconds and no signature is required for most purchases under $25.00. The chip enables end-to-end transaction security. All Blue from American Express, Starwood Preferred Guest and Clear from American Express Cards also have a magnetic strip and function as traditional credit cards.
American Express has been working with contactless payments since 2002. Market research with pilot participants confirmed that consumers view convenience and simplicity of use as two of the major benefits. For merchants, important benefits include reduced transaction and service time for customers on the go.
American Express continues to sign national and regional contactless payment merchants. For a full list of merchants now accepting ExpressPay, visit www.americanexpress.com/expresspay.
About American Express
American Express Company (www.americanexpress.com) is a leading global payments, network and travel company founded in 1850.
Contacts:
Rosa Alfonso
212.640.1712
Rosa.M.Alfonso@aexp.com