Amex takes on Google and Groupon
Wow… this is impressive!
160-Year-Old American Express Out-Innovates Google and Groupon
Amex is entering the daily deals space and they’ve come out swinging for the fences. Some key points:
- Link an Amex card to your Facebook account, select an offer, then pay using your AMEX. You’ll receive a statement credit and there’s no training required for businesses. Amex takes care of all of it on their end.
- Groupon charges a 50% to businesses. AMEX is charging 0% other then the regular credit card transaction fees. They’re forgoing that upfront revenue to build a long term relationship with the merchant that pays off over time. This is a game changer.
- They have the potential to really take on the big players in this space, verses just being another copy cat.
