American Express 2014 Annual Report Download - page 9

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AMERICAN EXPRESS COMPANY | ANNUAL REPORT 2014 8
Network Partnerships: Around the world, we continued to expand our
partnerships with banks that issue AmEx-branded cards on our network.
We launched new cards in several countries, including those with Banco
Santander in Mexico, Barclaycard in the U.K., Wells Fargo and U.S. Bank in
the U.S., and multiple partners in China. Charge volume on cards issued by
bank partners increased 12 percent for the year.
Serve and Bluebird: Nearly 70 million Americans are underserved
by the traditional banking system, with many shut out from the financial
options most of us take for granted. We are working to help them.
American Express Serve and Bluebird oer convenient, low-cost options
for managing and saving money. In 2014, we made it easier for people to
use Serve prepaid accounts by creating the largest cash reload network in
the U.S. We also introduced a suite of new money management tools for
both Serve and Bluebird account holders. The customer base for both of
these products grew substantially over the past year.
Small Business Saturday: A holiday tradition now in its fifth year, Small
Business Saturday is bigger than ever. About 88 million U.S. consumers
shopped small on the Saturday after Thanksgiving, up 15 percent from the
prior year. American Express founded Small Business Saturday to help
local, independent business owners in the U.S. increase sales on one of
the most important shopping days of the year. Now, it’s an international
event, as we work with partners in the U.K., Australia, Canada and other
countries to encourage consumers to “shop small” in support of their
local businesses.
Loyalty Partner: A sophisticated approach to customer loyalty, this
business brings together groups of merchants to share a common rewards
platform. Consumers who enroll earn PAYBACK points and digital oers
when they shop at participating merchants. The largest program of its kind
in Europe, India and Mexico, Loyalty Partner now serves about 60 million
active points-collecting consumers, up 38 percent from a year ago.
Ask most people what business American Express is in, and they’ll
probably tell you that we are a card company. Ask me, and I’ll tell you
something dierent. I see us as a platform company.
It’s Not the Plastic…It’s the Platform