American Express Backs Companies in Hong Kong Amid Market Rebound with Enhanced Rewards on American Express Corporate Card Program

Cardmembers can now earn more Membership Rewards^® points on business spending at selected travel-related and everyday merchants as well as foreign currencies transactions

HONG KONG, June 20, 2022- American Express is increasing support for corporates and businesses in Hong Kong with an upgrade version of its American Express Gold Corporate Card and Corporate Card. Corporate customers will be able to leverage an accelerated earn rate on business expenditures to achieve better company savings and improved cash flow, equipping them with stronger competitive edge to seize business opportunities amid the improving market environment.

Tony Tsai, Vice President & General Manager, Global Commercial Services, Hong Kong and Taiwan and Foreign Currency Solutions, Asia Pacific at American Express said, "We're committed to ensuring our products provide extra value to help companies go further, and even more so as they are charting a path beyond the pandemic. With this in mind, the enhanced rewards on the Corporate Card Program are designed to match the spending patterns and evolving needs of our clients' business operations, in order to help them steer through the unchartered water and emerge stronger."

Enhanced Earn Rate to Meet New Normal Needs

American Express Corporate Cardmembers[1] can now earn up to 2 Membership Rewards points for every HK$1 spent at selected merchants[2] across various categories designed to match traditional travel and entertainment demand as well as the new normal operational needs - including online advertising and digital tools; dining and food delivery; freight and logistics; travel, lodging and hotel dining as well as airline spending. In other words, business expenses with merchants such as Amazon Web Services, Apple, FedEx, Google Ads, Meta Ads, as well as some of the most premium global hotels and airlines will now become even more rewarding.

Cardmembers can also enjoy the same enhanced earn rate for every HK$1 expenditure made in most foreign currency transactions[3], making companies' foreign currency spending both advantageous and convenient as cross-border business returns.

Cash Flow Management Becoming Important as Business Spending Expected to Rise

American Express has revealed in a recent worldwide business survey that managing business spending and cash flow is becoming more important during the post-pandemic world. The Global Business Spend Indicator by American Express[4] has found that more than half (51%) of the global businesses surveyed expect more B2B spending in the next six months, with the spending growth expectations rise with business size. It was also revealed that 72% of the surveyed companies found that managing cash flow and working capital have become more important over the last 12 months.

With the American Express Corporate Cards, not only can corporate customers enjoy the greater financial efficiency from the access to an extensive array of benefits and rewards under the Membership Rewards Program, they can also enjoy great cash flow flexibility, better visibility and control over their business spending as well as the ease of facilitated cross-border transactions.

Learn more about the American Express Gold Corporate Card and American Express Corporate Card at amex.co/3PvjOcm and amex.co/3sJOX25 respectively.

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About American Express Global Commercial Services

Through our Global Commercial Services division, American Express offers powerful backing and support that helps companies of all sizes gain financial savings, control and efficiency. We provide a suite of payment and lending products, solutions for travel and everyday business spending, cross-border payments, global currency solutions, and business financing. To learn more about Global Commercial Services, visit business.americanexpress.com/hk.

CONTACTS:

AMERICAN EXPRESS

Priscilla Ching
+852-2811-6327
[email protected]

Eric Chan
+852-2811-6107
[email protected]

OGILVY PUBLIC RELATIONS
Hon Man Li
+852 9638 1208
[email protected]

Leanne Pok
+852 9379 9694
[email protected]

Source: American Express Company

Location: Greater China (Mainland China, Taiwan and Hong Kong)

[1] Participation in the Membership Rewards Program is open to all Cardmembers whose Card Accounts are billed in Hong Kong dollars from Hong Kong subject to the approval of Amex. For details please refer to amex.co/3xcqbsR.

[2] For the full list of selected merchants, please refer to amex.co/39dePwH.

[3] Selected foreign currency means any currency other than Hong Kong Dollar (HK$) and Renminbi (RMB).

[4]GLOBAL BUSINESS SPEND INDICATOR BY AMERICAN EXPRESS METHODOLOGY

The Centre for Business and Economic Research commissioned Opinium to conduct a survey of more than 3,500 businesses in the UK, Australia, Canada, Japan, Mexico, and the USA, asking them about their expectations regarding B2B spending in the next six months. The survey included questions asking about the items on which businesses are expecting to see higher or lower spending. Furthermore, businesses were asked for the drivers of changes in spending behavior. Finally, the survey provided insights into how current economic challenges, especially inflation and supply chain disruptions, impacted businesses' operations and how they seek to respond to these issues.

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