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MarketScreener Homepage  >  Equities  >  Nyse  >  American Express Company    AXP

AMERICAN EXPRESS COMPANY

(AXP)
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American Express : and Uber Expand Partnership to Introduce New Offerings for Platinum, Gold & Green Card Members

10/26/2020 | 11:04am EST

American Express (NYSE: AXP) and Uber today announced an exclusive new offer for U.S. Consumer Platinum, Gold and Green Card Members and an Uber Cash benefit for Gold Card Members to bring their next at-home dining experience right to their doorstep and support the local restaurants in their communities.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201026005671/en/

American Express and Uber Expand Partnership to Introduce New Offerings for Platinum, Gold & Green Card Members (Photo: Business Wire)

American Express and Uber Expand Partnership to Introduce New Offerings for Platinum, Gold & Green Card Members (Photo: Business Wire)

More than 50% of consumers share that they have been ordering take out or food delivery more often than before the start of the pandemic*. That’s why American Express and Uber have once again teamed up to introduce an exclusive offer and benefit for Card Members looking to bring the restaurant experience home:

  • Starting today, U.S. Consumer Platinum, Gold and Green Card Members have access to a complimentary Eats Pass Membership for up to 12 months. Eats Pass is a monthly subscription through Uber Eats that offers unlimited $0 delivery fee and 5% off restaurant orders over $15 and $0 delivery fee on grocery deliveries over $30 in select markets - a value of up to $119 (typically $9.99/month). Card Members must enroll by December 31, 2021.
  • Starting early next year, The American Express Gold Card will provide Card Members with up to $120 annually ($10/month) in Uber Cash which can be used on Uber Eats orders or Uber rides in the U.S. This builds on the Card’s existing benefits which include 4X Membership Rewards at restaurants worldwide and at U.S. supermarkets on up to $25,000 in eligible purchases per calendar year, 3X Membership Rewards points on eligible airfare, and a $120 (up to $10/month) annual dining credit for spend with select merchants.

“Our Card Members crave food experiences and we’re seeing that they’re continuing to seek out food delivery services to create those special experiences at home, while also beginning to explore local dining destinations again,” stated Rachel Stocks, Executive Vice President, Global Premium Products and Benefits at American Express. “We’re excited to expand our partnership with Uber to provide value to our Card Members who are looking to get even more out of their Membership”

"We're thrilled to expand our partnership with American Express in the United States to offer Card Members a year of free Eats Pass," said Pierre-Dimitri Gore-Coty, Vice President of Delivery at Uber. "This year people everywhere have come to rely on—and look forward to—food delivery, in a new way. These complimentary Eats Pass memberships will bring the best of Uber Eats to the doorsteps of Card Members—from delicious dine-in from local favorites to grocery delivery and more."

These offers build on the existing, popular dining benefits available across U.S. Consumer Platinum, Gold and Green Cards including:

  • $200 in Uber Cash annually that can be used on Uber rides and Eats and automatic Uber VIP status which unlocks exclusive perks, discounts, and giveaways where available for Platinum Card Members
  • 4X Membership Rewards® Points at restaurants, including takeout and delivery, and 4X Membership Rewards Points on U.S. supermarkets on up to $25,000 in eligible purchases per calendar year for Gold Card Members
  • 3X Membership Rewards Points at restaurants worldwide including takeout and delivery for Green Card Members

This new offer and benefit are the latest expansion of the longstanding partnership between American Express and Uber which is focused on delivering unique, exclusive and relevant value to Card Members, especially as their passion for dining and local exploration continue to grow.

See here to learn more: www.americanexpress.com/uber

ABOUT AMERICAN EXPRESS

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

Key links to products, services and corporate responsibility information: personal cards, business credit cards, travel services, gift cards, prepaid cards, merchant services, Accertify, InAuth, corporate card, business travel, and corporate responsibility.

ABOUT UBER EATS

Uber Eats allows people to discover merchants, order food, groceries, and more at the touch of a button, and have it delivered reliably and quickly. The business leverages Uber’s technology and logistics expertise to partner with 500,000 merchants in 6,000+ cities globally, while keeping average delivery time under 30 minutes.

*Methodology

This poll was conducted online between September 17-September 18, 2020 among a national sample of 2000 Adults with a household income of $70,000 or greater, and that traveled by plane at least once in 2019.


© Business Wire 2020
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Financials (USD)
Sales 2020 36 174 M - -
Net income 2020 2 667 M - -
Net Debt 2020 - - -
P/E ratio 2020 35,5x
Yield 2020 1,45%
Capitalization 95 489 M 95 489 M -
Capi. / Sales 2020 2,64x
Capi. / Sales 2021 2,38x
Nbr of Employees 64 000
Free-Float 99,9%
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 113,08 $
Last Close Price 118,59 $
Spread / Highest target 47,6%
Spread / Average Target -4,65%
Spread / Lowest Target -25,8%
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Managers
NameTitle
Stephen J. Squeri Chairman & Chief Executive Officer
Jeffrey C. Campbell Chief Financial Officer & Executive VP-Finance
Marc D. Gordon Chief Information Officer & Executive VP
Charlene Barshefsky Independent Director
Peter F. Chernin Independent Director
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