In an effort to assist small businesses that have been decimated by the coronavirus pandemic, American Express launched a new set of credits across almost all of its US personal and business cards to reward customers who shop at small businesses.
American Express card members will receive a $5 credit for every $10 spent at a small business using an Amex card. The offer can be used up to 10 times between now and September 20 for a total of as much as $50 in shopping credits. The credits are part of an initiative by Amex to help jump start spending at small businesses, after a recent survey commissioned by the issuer showed that 65% of US small businesses said in order to survive 2020, they need their regulars to come back.
“We’ve long believed small businesses are the fabric of our communities and recognize the essential and unique role they play around the world,” said Elizabeth Rutledge, Chief Marketing Officer at American Express. “The implications that COVID-19 is having on our small businesses is staggering and we knew that we needed to step up to help as they navigate through reopening.”
The issuer says it will commit more than $200 million across multiple international markets to its new small business initiative, along with launching a marketing campaign with a spot that features small business owners and their stores, and narration from American Express Global Brand Ambassador Lin-Manuel Miranda, creator of the hit Broadway show “Hamilton.” “We know from past experience and over 10 years of supporting small businesses through Small Business Saturday, that card member offers work to drive consumer spend directly into small businesses,” said Rutledge. “With this offer, we intend to encourage American Express card members around the globe to Shop Small in their neighborhoods and support the small businesses they love.”