AAA and American Express Launch a Prepaid Card for Members

by Mercator Advisory Group 0

American Express and AAA Southern New England announced that they have launched a co-branded, reloadable membership card. With this move, American Express has recognized that prepaid cards offer value to customer groups beyond just those without bank accounts or the underserved market.

Beginning with the launch of the program this month, all AAA Southern New England members will receive membership cards with prepaid card functionality upon renewal of their annual membership. Once activated with the prepaid payment functionality, members will be able to use their prepaid card at millions of locations worldwide where American Express Cards are accepted. Those seeking to receive membership cards with prepaid card functionality prior to their membership expiration can do so by requesting a new card anytime after the launch date.

Budgeting tools allow cardmembers to manage their account online, view real-time transaction history, and set up alerts to receive balance and transaction information. Reloading funds can be scheduled automatically.

By tapping into a specific group of people with a clear common connection and potential budgeting use for prepaid, American Express has the potential to show how thinking about prepaid as a financial tool, rather than as a product for only one group of people, can increase volume and develop new lines of business.

Read more at: http://insurancenewsnet.com/article.aspx?id=264433&type=newswires
You can also access the release here: http://about.americanexpress.com/news/pr/2011/aaa.aspx

Read more by Mercator Analysts: AAA and Target: The Versatility of the American Express Brand for Prepaid
http://www.paymentsjournal.com/Blog.aspx?id=4697&blogid=206&terms=AAA