On Wednesday, American Express did something that no credit card company ever has. The venerable plastic king announced today that its cardmembers will now be able to pay for Facebook Ads using Membership Rewards points.
By AMEX’s own admission, the move is groundbreaking, as it marks the first time any credit card company has connected a rewards program to advertising spend in this way.
“With the addition of Membership Rewards points as a payment option,” American Express announced in a formal press release this morning, “business owners now have a powerful new way to build their businesses through the rapidly growing area of social media advertising.”
American Express is planning a comprehensive national media campaign to raise awareness for this new opportunity. For now, however, cardmembers can begin redeeming Membership Rewards points for Facebook Ads immediately.
“The Membership Rewards program is a unique and core asset for American Express that is becoming even more relevant for our Cardmembers in the social media space,” adds Ed Gilligan, Vice Chairman at American Express. “We are thrilled to partner with Facebook to bring this first-of-its kind opportunity to small business Cardmembers who can now leverage the marketing power of the world’s largest social media platform in a smart and effective way.”
“With hundreds of thousands of small businesses advertising on Facebook, this latest effort by American Express effectively takes advantage of our platform by providing these business owners with a new and convenient way to pay for Facebook advertising,” says David Fischer, vice president of advertising and global operations at Facebook.