American Express, Verizon Team on Mobile Payments

Verizon has announced it will use technology from American Express for mobile phone payments. The partnership will allow customers to use American Express' Serve online payment system on Verizon handsets and tablets, reports The Wall Street Journal. Serve, which enables users to receive and send money from mobile devices using accounts provided by American Express, will be integrated into Verizon devices.

According to Computerworld, customers will also be given a Serve card that can be used for purchases in stores. The two groups are currently working with Payfone to support purchases. Verizon's partnership with American Express differs from its role with Isis in that Verizon's service will be available anywhere, while Isis will be limited to NFC-based in-store purchases.