Credit card company American Express is launching a deals platform in partnership with Facebook that puts other deals companies to shame. Sales partners in the deal include Dunkin’ Donuts, H&M, Sports Authority, Sheraton, Travelocity and more. TechCrunch reports that the deals will work so that spending with the partnered companies will yield returns on AmEx cards, such as “spend $30 and get a $10 statement credit” or “visit 3 times, spend $50 each time and get a $10 statement credit.” Users can get these deal offers by linking their AmEx cards with their Facebook accounts.
Users participating in the deals will get the deals loaded on their American Express cards, and the returns will be activated once the deal criteria have been met. American Express doesn’t take a cut of the deals, but instead makes its money on the usual fees for payment transactions.
TC notes that the American Express-Facebook partnership is poised for success because the offers rely on AmEx rewards rather than businesses providing discounts, and the offers also can be targeted to bring merchants local, repeat customers (such as the “visit 3 times, spend $50, get $10” example). American Express’s small business deals platform is called Go Social.