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Friday, August 12, 2011

Amex Gives You Credit for Network

Interesting development I was late to:

" ... Creating a social network is so last week. Today, American Express is unveiling a social media platform called "Link, Like, Love" that gives card members personalized deals on Facebook based on their social graph, while also giving businesses an easy way to set up shop on different social networks. Local and national merchants are already signed on to the program, which dynamically updates new deals in a dashboard tailored to a cardholder's likes, interests, and friends.

The platform is very similar to one AmEx launched recently with Foursquare. With 750 million people on Facebook and 10 million on Foursquare, American Express suddenly becomes a powerful player in the increasingly popular (and crowded) deals space. More and more competitors are entering the landscape, from startups like Square to established players like PayPal. But by leveraging the company's reach--the millions of merchants and cardholders using AmEx--the company hopes to provide a scalable solution for businesses and simplify the fragmented e-commerce space for consumers .... "

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