As a result, American Express is allegedly planning to provide consumers with the option of making purchases online using their mobile phone number at checkout via the Serve platform integrated with Payfone’s payments service.
According to the source, in addition to American Express, US mobile carriers Verizon Investments and Rogers Communications have also participated in the round, along with existing investors Opus Capital, BlackBerry Partners Fund and RRE Ventures.
Payfone is expected to use the round of capital to continue expanding across North America, Europe, Latin America and Asia, the source reports. Payfone’s mobile billing service is set to provide customers with the ability to pay for their online or mobile purchases with their phone number. The purchases are then billed directly to the consumers prepaid or post-paid mobile account. Payfones platform enables one-click mobile billing for online and mobile purchases globally with fraud prevention and detailed billing records.
In March 2011, American Express has launched its Serve offering, to provide consumers with payment options. The American Express Serve platform enables consumers to make purchases and person-to-person (P2P) payments online, via mobile phones and traditional cards at merchants who accept American Express cards.
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