Published on 12 Oct 2021 on Zacks via Yahoo Finance

AmEx (AXP) Modifies Card to Boost Growth of Small Businesses

American Express Company AXP recently reintroduced the Business Gold Rewards Card with added features for addressing the evolving requirements of small business owners across Canada.

Traditionally, the low annual fee Card empowers business owners with strong purchasing power, digital management tools and extensive insurance coverage. With the relaunched Card, the Cardmembers are equipped to earn rewards or additional bonus points on their spending, which can subsequently be utilized by the owners to undertake reinvestment. This, in turn, is expected to boost growth prospects of small businesses throughout Canada.

The latest move highlights American Express’ sincere efforts to enhance card offerings and pave the way for seamless business operations. A move similar to the latest one seems to be of utmost importance to small businesses globally as they grappled with inadequate resources and financial uncertainties due to the COVID-19 pandemic. Hence, the move to offer financial assistance to them along with rewards and bonus points amid the lingering concerns of the pandemic seems to be a time-opportune one.