PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

American Express Has Changed The GPR Market!

Mercator Advisory Group by Mercator Advisory Group
June 14, 2011
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
This product announcement has clearly shifted the landscape for all prepaid financial services suppliers. Never before have so many fee-free features been bundled into a prepaid financial services product. Coming from a market leading financial services company, this is an announcement that will have a profound impact on the industry.

The card is free when ordered online, it is shipped to your address for free, and the American Express Prepaid Card has no monthly fees, and no transaction fees except for an ATM usage fee after the first free monthly ATM withdrawal. By not charging a fee for the first ATM withdrawal every month and by not charging any overdraft fees, the card remains in compliance with the provisions of the Durbin Amendment that grant prepaid cards an exemption from interchange caps. This amazingly fee-free environment includes replacement cards and foreign currency conversion:

“Unlike other prepaid reloadable cards, there are no fees for purchasing the Card online, monthly maintenance, activation, balance inquiries, alerts, Card replacement, foreign currency conversion or loading via bank account. The funds on the Card do not expire, and if lost or stolen, the funds can be replaced. The first monthly ATM cash withdrawal is free, after which a $2.00 fee applies (bank network charges may also apply).

Choosing to use the American Express Prepaid Card also means that Cardmembers will enjoy the exceptional customer service they have come to expect from American Express. American Express Company was ranked “Highest in Customer Satisfaction among Credit Card Companies,” for the fourth consecutive year, by the J.D. Power and Associates in the 2010 Credit Card Satisfaction Study(1).”

American Express has changed the market with a single product announcement. Now we will need to wait to see how existing players shift their positions to accommodate the new gorilla on the block.

Click here to read more: http://about.americanexpress.com/news/pr/2011/revpp.aspx

Tags: Prepaid
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    commercial payments

    Optimizing Commercial Payments in the Digital Age

    March 21, 2023
    cross-border payments

    Cross-Border Payments: Fighting
    E-Commerce Fraud Using Data

    March 20, 2023
    fraud, ChatGPT-4

    How to Fight Fraud While Still Enabling a Great Online Customer Experience

    March 17, 2023
    RTP

    Financial Institutions Without an RTP Strategy Risk Being Left Behind

    March 16, 2023
    visa chargeback

    New Visa Chargeback Guidelines Will Be a Game Changer

    March 15, 2023
    liquidity management

    Liquidity Management Takes on Increasing Importance in Uncertain Economic Times

    March 14, 2023
    payments

    Key Challenges from Growing Payment Methods and Volume

    March 13, 2023
    Data Governance is a Journey, financial data

    How FIs Can Power Their Operations with a Modern Data Architecture

    March 10, 2023

    Linkedin-in Twitter

    Advertise With Us | About Us | Terms of Use | Privacy Policy | Subscribe
    ©2023 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    Menu
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • Recent News
    • Resources
    Menu
    • Industry Opinions
    • Recent News
    • Resources
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Autorek complimentary report: Payments Industry Outlook 2023: