The May 11th American Banker reports that American Express plans to start selling gift cards as a pilot effort in more than 1,800 post offices starting in June. The Amex-branded cards will be sold in fixed amounts of $25 and $50 as well as variable amounts of $25 to $100. Each card will cost $3.95 to $5.95 to activate but will have no other fees.The USPS said in January that it would test the sale of gift cards in its branches to generate additional revenue, with plans to retain a percentage of the card sales. It may expand the cards' availability to an additional 3,000 locations later.
The program continues an effort by Amex to expand beyond traditional credit and charge products. In February, Amex began testing sales of co-branded prepaid cards at Target stores. In April it announced a digital wallet service called Serve, which can be funded with non-Amex payment cards.
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