American Express 2013 Annual Report Download - page 11

The example is fictional, but the capabilities are real. For instance,
we took one of our biggest assets, our Membership Rewards program,
and invented a new way to deliver value to customers. Our mobile app
now gives Card Members an easy way to use their points for practically
any purchase, right on their mobile devices, once the charges appear
on their statements. There is nothing else like it in the industry for
flexibility and choice. About one out of every four Card Members who
took advantage of this feature redeemed Membership Rewards points
for the first time.
Other digital advances in 2013 enabled Card Members to make
purchases directly on Twitter using hashtags, helped small business
owners manage expenses using their smartphones, and provided
real-time fraud alerts via text messages.
SERVING THE UNDERSERVED: Thinking differently also involves
broadening our product set to reach new audiences. Take our efforts in
the area of financial inclusion.
The current financial system is failing to meet the needs of millions of
consumers. In the U.S. alone, nearly 70 million people are unbanked,
underbanked or unhappily banked—frustrated by the hassles and
hidden fees of the traditional system. The same is true in other countries
around the world. A big opportunity exists to make moving and
managing money easier and less expensive for those who need it most.
BUILDING SCALE GLOBALLY
American Express broadened its product portfolio, adding millions of customers in 2013.
Expanded features on American Express Serve and
Bluebird offered consumers efficient ways to move and
manage their money.
Merchant coalitions in American Express’ Loyalty Partner
business now offer more than 60 million consumers a
way to earn points that can be redeemed for merchandise
and special offers.
AMERICAN EXPRESS COMPANY
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