American Express continues to disappoint in the Spend Management sector of late, having taken the ball on their opponent’s 40 yard line numerous times with the result so far having been numerous interceptions and punts and nary a touchdown, not even a field goal (trust me on this analogy — I’m from Chicago and my team is not exactly having a good year, despite having a payroll in the top third of all NFL teams).
Amex’s latest acquisition of Revolution Money, earlier today, suggests a continued migration away from business-focused P2P capabilities. Revolution Money, rather than enabling B2B payments and connectivity, is a consumer-focused card offering that merges the concepts of debit cards, credit cards, and PayPal-like capability into a new offering. It’s nifty for sure, but in my view, does nothing to help American Express’ customers focused on the Spend Management arena.
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