American Express and InComm have entered into an agreement for InComm to acquire the exclusive distribution rights of Amex’s prepaid reloadable and gift card products in the US, including Bluebird and Serve, reports Banking Technology‘s sister publication Paybefore.
InComm also will acquire the Serve technology platform and other assets related to the American Express prepaid reloadable and gift card products business.
American Express will remain the issuer and network for all products involved in the transaction, but InComm will become the programme manager and processor.
