A few days ago, I’ve posted the latest news about digital payment, “PayPal and Xoom Deal”, which is expected to happened this fourth quarter of this year. To give you a quick recap, PayPal is a well-known company that provides online money transfer either from bank account to PayPal or vice versa, it is also commonly used for secured online purchase instead of using your debit/credit card.
Xoom, on the other hand is a start-up company that offers hassle-free digital money transfer for 37 countries worldwide. Both parties have decided that PayPal will buy Xoom for $890 million, or $25 per share. To understand more about the deal, go to this link.
Today, another potential competitor of PayPal has announced by American Express which they called as Amex Express Checkout.
American Express is a credit card company and their new service will most likely offer the same services that the other companies do, maybe they’ve just added a few services or advantages of using their payment system which is not yet available on other digital wallet.
According to Leslie Berland, EVP of digital partnerships and development at American Express, “We’re not a company to throw spaghetti at the wall or create a me-too product. We watched and we learned.”