Amex: No Deal Yet with Google Wallet
Aug. 7, 2012
Google appears to have jumped the gun when it said last week that its new cloud-based version of Google Wallet supports credit and debit cards from all the major network brands. The announcement that Google made on its corporate blog was news to American Express, which responded late last week by denying that an official agreement has been signed between the two companies.
“We want to make sure Google’s mobile wallet product meets the standards we set for our Cardmembers in terms of the transparency and clarity about transaction detail,” the company said in a statement. “And right now, American Express does not have an agreement with Google for our cards to be used in the Google mobile wallet. While we are interested in the technology and remain in discussions with them about opportunities to work together, we did not provide approval to be included.”
According to reports, American Express cardholders can load their card accounts into Google Wallet and use the account to make in-store purchases at participating merchants. American Express, however, objects to the way purchases made with an American Express card using Google Wallet will show up on the cardholder’s statement as “Google,” rather than with the normal merchant-related information.