American Express and InComm today appear they accept entered into an acceding for InComm to become the absolute benefactor of American Express’s prepaid reloadable and allowance agenda articles in the U.S. InComm will become the absolute affairs administrator and processor, and American Express will abide the issuer and arrangement for all articles complex in the transaction. InComm will additionally admission the Serve technology belvedere and added assets accompanying to the American Express prepaid reloadable and allowance agenda articles business.
‘After ample deliberation, we accept absitively to accomplice with InComm as we alpha a new affiliate for our prepaid business,’ said Stefan Happ, Executive Vice President & Accepted Manager, All-around Prepaid & Alternative Payments. ‘InComm’s adeptness and abysmal adeptness of the industry will be a abundant asset as we attending to accompany our best-in-class prepaid and allowance agenda articles to alike added customers.’
The American Express prepaid articles included in the transaction accommodate U.S. allowance cards, B2B rewards and incentives, tax disbursements and accepted purpose reloadable (GPR) cards. These articles will added aggrandize the already advanced alternative of concrete and agenda articles InComm offers its administration partners. The accretion of the Serve technology belvedere will additionally aggrandize InComm’s processing capabilities.
‘This is a absolute agitative accord for us, our retail ally and the new administration ally this transaction will accompany us,’ said Brooks Smith, InComm CEO. ‘We are consistently appetite to add new and agitative articles to our portfolio so our ally can bigger accommodated the needs of their customers. With American Express’s apartment of prepaid products, we are abacus yet addition accepted and awful acclaimed cast to our ever-growing portfolio. Through our 15-year accord with American Express, which includes actuality the aboriginal to administer and actuate their allowance agenda in retail, we accept acquired a abysmal adeptness that will acquiesce us to be abundant admiral for their brand.’
The accord is accepted to aing the aboriginal division of 2018, accountable to achievement of affidavit and accepted closing conditions.
About American ExpressAmerican Express is a all-around casework company, accouterment barter with admission to products, insights and adventures that adorn lives and body business success. Learn added at americanexpress.com and affix with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.
Key links to products, casework and accumulated albatross information: allegation and acclaim cards, business acclaim cards, Plenti rewards program, biking services, allowance cards, prepaid cards, merchant services, Accertify, accumulated card, business travel, and accumulated responsibility.
About InCommLeveraging abysmal integrations into retailers’ point-of-sale systems, InComm provides connectivity to a array of annual providers that acquiesce consumers to conduct accustomed business at added than 500,000 credibility of retail distribution. Whether those consumers are activating prepaid products, advantageous bills, adequate real-time discounts through a associates card, purchasing agenda appurtenances in-store or abacus funds to an online account, InComm is there to accommodate different gift-gifting opportunities, baby to on-the-go shoppers, bear added amount through adherence programs and serve cash-based consumers. With 206 all-around patents, InComm is headquartered in Atlanta with a attendance in added than 30 countries. Learn added at www.incomm.com or affix with us on www.twitter.com/incomm, www.facebook.com/incomm, www.linkedin.com/company/incomm or www.incomm.com/blog.
Information Accompanying to Forward-Looking Statements
This absolution includes advanced statements that reflect management’s expectations about approaching events, including expectations apropos the transaction closing. These advanced statements are accountable to risks and uncertainties. The words ‘expect,’ ‘anticipate,’ ‘intend,’ ‘plan,’ ‘will,’ ‘may,’ ‘should,’ ‘could,’ ‘would,’ and agnate expressions are advised to analyze advanced statements. Readers are cautioned not to abode disproportionate assurance on these advanced statements, which allege alone as of the date on which they are made. American Express undertakes no obligation to amend or alter any advanced statements. Factors that could account absolute after-effects to alter materially from these advanced statements include, but are not bound to, the parties’ adeptness to amuse the closing conditions, the basal assumptions accompanying to the transaction proving to be inaccurate or abeyant and InComm’s adeptness to accommodate Serve’s technology platform. A added description of these and added risks and uncertainties can be begin in American Express’ Annual Report on Form 10-K for the year concluded December 31, 2016 and its added letters filed with the SEC.
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