A partnership between American Express and VeriFone will allow New York-based customers of the credit card issuer to use loyalty points when paying for taxi fares. The joint venture is part of AmEx’s effort to expand its branded currency, Finextra reported.
VeriFone operates transaction management systems in more than 7,000 cabs, which typically handle over 200,000 individual payments per day. According to Leslie Berland, a senior vice president for AmEx, the partnership is simplifying urban travel for consumers.
“With this announcement, we’re leveraging our unique technology to bring it to life at the most critical commerce touchpoint – the physical point of sale,” Berland said.
For more on AmEx and VeriFone’s venture in mobile payments services, read the full report here.
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