American Express Rolling Out First Prepaid Card
NEW YORK (AP) - American Express is rolling out its first prepaid card aimed at the general market on Tuesday as it moves to stake a claim in the growing industry.
The announcement marks a notable departure for the company, which is known for catering to a more affluent clientele with its signature green charge cards.
This card is for everyone, said Dan Schulman, who was hired last summer to head Amex's enterprise growth unit. It could be for a parent who wants to give their kid a card, it could be for someone who doesn't have access to credit. It's a very large market that spans demographics.
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