American Express said Thursday (July 9) that it has launched Amex Express Checkout, through which U.S. cardmembers can check out quickly online by using their AmericanExpress.com login.
In the release the company stated that, in conjunction with participating online merchants, cardmembers can use their Amex ID and password, and then American Express will autofill checkout fields with card-specific details and account information. The company stressed in the release that the Amex Express Checkout is not a wallet and also does not mandate the creation of a new account.
Among the initial retailers participating are BarkBox, Burberry, Ledbury, Newegg, Sabon and Ticketmaster, along with The Wall Street Journal. American Express said it is working with Stripe in order to allow merchants using the latter’s payments platform to enable the new Express Checkout feature. New retailing entrants in the near term will include Avis Car Rental, Banana Republic, Cole Haan, Gap and Hulu, among others.
The checkout service will use a token to transfer account information to the merchant. American Express said in its statement that the autofill feature tied to the express checkout service means that there is no need to manually enter details or look to see if details entered are current, which is at times a necessary step when a consumer uses a digital wallet.
The payment option is already being touted as an alternative to PayPal, as peers like Visa and MasterCard “are competing to own the buy button on websites and apps,” Re/code reported on Thursday.
Starting Thursday, July 9, and running into September, American Express said that card members using the new service will get a one-time $10 statement credit per merchant, at retailers including BarkBox, Burberry, Ledbury, Newegg, Sabon, Ticketmaster, Warby Parker and The Wall Street Journal, according to the release.