American Express introduced today Amex Express Checkout, a fast and secure way to pay at online merchants with no accounts to set up.
American Express cardholders can pay at merchants like Burberry, Warby Parker, Gap, Old Navy, Banana Republic, Hulu, Newegg, The Wall Street Journal, Ticketmaster, Avis Car Rental, Cole Haan etc just by using their usernames and passwords from their online Amex accounts. The tool then auto-fills their payment information into the billing and shipping fields.
The move comes as tech companies like Google, Apple and PayPal and credit card competitors Visa and Mastercard are competing to be the go to option for checkouts online.
Amex Express Checkout has several differences from other services. Shoppers can use their existing American Express online account credentials. That makes it easier for cardmembers to use the service since they don;t have to sign up for a new service.
For merchants, there could be some appeal in the fact that American Express will pass along customer information to the retailer if the customer chooses to do so. Several competing services don’t offer the merchant the opportunity to convert a shopper that uses one of these alternative payment methods into a new customer account.
The new payment tool is more restrictive than other options though. While competing purchasing tools allow shoppers to choose from different brands of credit cards and debit cards — and in PayPal’s case, bank accounts too — Amex Express Checkout only allows for payment with an Amex credit card.
Here’s How to Fly Through Checkout With Amex Express Checkout
For Card Members, Amex Express Checkout is a new way to shop online quickly and securely with the americanexpress.com User ID and Password they already know and use to log in to their account online to pay their bill or to the American Express app.
To shop with Amex Express Checkout, Card Members just enter their existing americanexpress.com account login and choose their Card. American Express securely auto-fills the checkout fields. Card Members can confirm or edit their information on the merchant site before submitting an order.
Starting today, Card Members also will get a one-time $10 statement credit per merchant when they use Amex Express Checkout online at BarkBox, Burberry, Ledbury, Newegg, Sabon, Ticketmaster, Warby Parker and The Wall Street Journal through 9/7/15.
$10 Credit At Select Merchants
Oren’s Money Saver points out that you can get a $10 credit when you use Amex Express Checkout at merchants such as Newegg and Ticketmaster, which I missed. This is similar to deals offered by Visa Checkout recently. He also shows a few option on how to profit from the offer, by purchasing gift cards at Newegg. You can get the $10 credit for every Amex log in.