AmEx has offered a number of different cards to consumers: The Blue Card appeals to those who like cash back options and the Platinum card is specialized for consumers who travel. There’s even a Black Card for high net-worth individuals. Today, the company is debuting a brand new rewards-focused credit card, called Everyday, aimed at the consumer who uses AmEx for most of the everyday purchases.
While the AmEx Everyday card is broadly focused on the frequent spender, and multi-asker, the core audience is the busy mom. As AmEx US Consumer Services President (and former Skype CEO) Josh Silverman explains, the typical Everyday card user uses credit and or debit cards at least twice a day. AmEx says that moms spend 18% more on monthly expenses compared to general population (which, as a mom, I believe).
The card itself doesn’t have a yearly fee, and allows for a revolving balance. Users will get double reward points at supermarkets, and if a Everyday card member uses the card for 20 purchases or more in a given month, AmEx will boost the consumer’s bonus points by 20 percent.
What’s interesting from a technology standpoint is the core integration with AmEx’s mobile app. When you open the app (and integrate your card details, the app will recognize that you are an Everyday members and will show you where you are in the month towards 20 purchases. Users will also get notifications when they can apply rewards points to their purchases, a feature that is being rolled out more widely with this card. You’ll be able to uses the points right away, redeem via your mobile phone, and the deduction will be implemented on your AmEx bill.
As Silverman explains, this integration with the mobile app “begins a more regular dialogue between AmEx and card members, and it brings benefits to life more in context.”
The card will be available for consumers to apply by April 2, 2014, and will also contain an EMV chip.
It’s not surprising that AmEx is appealing to the busy mom, who controls a lot of discretionary spending in the household. But what’s distinvtive about this launch is the integrations with the mobile app–it’s not surprising that AmEx wants to engage with consumers on mobile beyond just using the apps to check balances or pay bills. The challenge is creating engaging features for consumers to want to open the apps more frequently. Rewards is one hook that AmEx has been particularly focused on, so it should be interesting to see how the “multi-tasker” consumer responds to this offering.
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