American Express is pushing into the digital payments market with a new expedited checkout system for online retailers. Called Amex Express Checkout, it’s compatible with Ledbury, Sabon, Burberry, BarkBox, Ticketmaster, The Wall Street Journal, and Warby Parker.
Basically, the system autofills users’ payment information when they enter their americanexpress.com username and password when prompted while shopping online. The data is transferred to the merchant via an electronic token, adding an extra layer of security; and customers don’t need to download any special apps or sign up for anything. In a press release, Amex EVP Leslie Berland explained that it’s a solution creating “a simple, fast checkout process to make online shopping easy and delightful.”
The system is available on desktop and mobile, and given consumers’ rising interest in digital payments, it’s a gesture in the right direction. At the same time, as eCommerce and mPayment platforms proliferate, Amex Express Checkout’s relative lack of biometric security is notable; password-based authentication systems are widely being replaced, at least on mobile apps, by biometric authentication – a security technology that rivals like Visa and MasterCard have been exploring intensively.
The company plans to expand the system to more merchants soon, including Avis Car Rental, Gap, Old Navy, Banana Republic, and Hulu.