American Express chief executive Ken Chenault says the company’s new Bluebird prepaid card is off to a promising start.

During remarks at the Goldman Sachs Financial Services Conference in New York Tuesday, Chenault said that approximately 80% of Bluebird enrollees are new to American Express, and 45% of purchasers are under age 35. The prepaid card is part of the company’s gambit to expand beyond its traditionally affluent customer base.

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