American Express is teaming up with plastic card rival Europay for its direct banking trial in Germany (MW last week).
An Amex spokesman says the direct banking service, being tested in Hamburg and Berlin, involves the use of a cheque guarantee card bearing the American Express Card logo and the Eurocheque name.
Europay is Mastercard’s partner in Europe. It manages Mastercard affiliate Eurocard. It is understood that American Express Bank will administer customers’ accounts.
In the US, Amex has changed the name of its travellers cheques division, Travellers Check Group, to American Express Stored Value Group. A spokesman says the intention is to issue pre-paid cards to complement the cheques.
News analysis, page 26