July 10, 2007
Prepaid Media Staff
American Express tells Prepaid Media that it will no longer offer its prepaid Travelers Cheque card. It began phasing out the card at the end of June. The company has asked its sales partners to discontinue offering the card “as soon as possible” and American Express no longer offers the cards on its website, Robert Sherman, a spokesman for American Express Travelers Cheques and Prepaid Services says. The cards will remain active until October 31. Any unused funds on the cards after that date will be refunded to cardholders. Sherman says travelers did not show a strong preference for using the cards over the 116-year-old paper travelers cheques, and that prompted the decision to cut the program. American Express began offering prepaid travel cards in 2003. American Express announced last month that it is discontinuing its prepaid health care card business.