Business and consumer one-time-use prepaid gift and incentive cards, reloadable prepaid cards, travelers cheques, foreign exchange services for businesses, and research and development of new products such as a prepaid card for the Mexico market have been businesses in American Express’s Enterprise Growth Group. As part of a $419 million ($335 million after-tax) charge against earnings that includes restructuring costs as well as goodwill and technology assets, Amex will discontinue the experimental/new product work. Foreign exchange services will now be part of Global Commercial Payments. A...
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