Verizon Wireless to install AmEx app on phones

NEW YORK — Verizon Wireless, the country’s largest cellphone company, will install apps for credit card issuer American Express Co.’s new online payment service, Serve, on its phones and tablets.

Serve, which was launched earlier this year, is similar to eBay Inc.’s PayPal service in that it’s based on pre-funded accounts, and it enables online transactions without entering a credit-card number.

Terms of the agreement between Verizon Wireless and American Express were not disclosed Monday

Verizon Wireless, which is controlled by Verizon Communications Inc. of New York, is also working on getting phones that can be “swiped” past payment terminals to pay in stores, in collaboration with other phone companies.