Amex: That Google Deal NEVER Happened!
Google (NASDAQ:GOOG) unveiled big changes to its mobile-payment system this week, announcing that a user could load any existing credit- or debit-card number into a software app for making purchases using just the smartphone. It turns out the announcement was premature as far as one bank goes. American Express (NYSE:AXP) says it never agreed to be part of the program.
“We want to make sure Google’s mobile wallet product meets the standards we set for our card members in terms of the transparency and clarity about transaction detail,” American Express vice president of social media communications, Brad Minor, told CNET. “And right now, American Express does not have an agreement with Google for our cards to be used in the Google mobile wallet.”
Minor did add that his company was interested in the technology, but that discussions with Google were not yet complete.
While the app works by offering support for credit and debit cards from Visa (NYSE:V), MasterCard (NYSE:MA), American Express, and Discover (NYSE:DFS), the in-store Wallet transactions are still handled by Google partner MasterCard via a PayPass account.
Google later confirmed that it was still in “active discussions” with American Express and was hoping for the partnership to come through eventually.
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