American Express 2002 Annual Report Download - page 19

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New card products launched for small business owners
in 2002 included the Business Purchase Account
(charge), the Business Management Account (credit),
and the Platinum Delta SkyMiles Business Credit Card.
We also added several new merchants to the Everyday
Savings program for small business cardmembers,
including Cingular Wireless, Kinko’s, Nextel and Staples.
New Proprietary Products in International Markets
Internationally, we introduced more than 100 new
proprietary card products in 17 countries during 2002.
These are cards that American Express issued, either on
our own or co-branded with partnering institutions.
The wide array of innovative new products included
Blue from American Express in Mexico, the American
Express Tiger Woods Credit Card in Canada, and co-
branded cards with such high-value partners as Costco
in Puerto Rico, Alitalia in Italy, Shinsei Bank in Japan,
and Société Générale in France. We also acquired a
credit card portfolio from AMP Bank, one of Australia’s
leading financial services companies.
As in the United States, the Membership Rewards
program is a powerful driver of cardmember loyalty
in the international consumer business. We now offer
Membership Rewards in 30 countries. In 2002, we
enhanced our rewards programs in several markets,
offering richer and more flexible choices that enable
cardmembers to earn points more quickly.
Expanded GNS Partnerships in our
International Markets
We also continued to expand our Global Network
Services (GNS) business in our international markets.
In this business, we partner with third-party financial
institutions who issue American Express-branded
charge or credit cards that are accepted on our mer-
chant network. We signed eight new GNS partners in
2002, including Toyota Finance Corporation in Japan
and Samsung Card Company, Ltd. in Korea.
Since 1996, American Express has been pursuing a
strategy of opening its merchant network to third-
party issuers around the world. Our GNS partnerships
increase our market presence, drive more transaction
I17 AXPI
OPEN FOR SMALL BUSINESS_ We deepened our commitment to small business owners
with the launch of OPEN: The Small Business Network, a rebranding and enhancement of
our small business offerings. Enhanced products and services include new charge and
lending cards and an expansion of the Everyday Savings program, which added partners
such as Staples and Kinko’s.