by Jared Heng
Singapore companies can now achieve greater cost savings through a new American Express Corporate Membership Rewards programme.
In a statement on Tuesday, American Express said it has chosen Singapore as its first market in Asia to launch the programme, which allows businesses to consolidate reward points earned through multiple cards issued to employees into a single company account.
Enrolling in the new Corporate Membership Rewards programme allows companies to earn points on all purchases made by their employees using the American Express Corporate Card. Every S$1.60 spent on the card earns the company one Corporate Membership rewards point. Company programme administrators are given the flexibility to determine how to use the accumulated points, based on their business needs.
Companies can convert the reward points to redemptions such as statement credit against any travel-related charges and credit amounts against the Corporate Card Statement balance. They can also redeem business-relevant rewards, such as dining vouchers, electronic items, fuel vouchers, as well as items that can be used as corporate gifts or employee incentives.
“This programme provides the type of corporate savings and maximum benefits from company spending that our corporate customers have been telling us they want,” said Jennifer Berthold, Vice President and General Manager, Global Corporate Payments, at American Express.