American Express: Press Center

American Express Chairman and Chief Executive Officer to Participate in the Sanford Bernstein Strategic Decisions Conference

Wed, 23 May 2012 00:00:00 -0400

American Express Chairman and Chief Executive Officer, Kenneth Chenault, will participate in the Sanford Bernstein Strategic Decisions Conference in New York, on Wednesday, May 30, 2012, at 8:00 a.m. (ET). Mr. Chenault will participate in a question and answer session relating to the Company's results and strategies.

A live audio webcast will be made available to the general public through the American Express Investor Relations website at http://ir.americanexpress.com. An audio replay of the presentation will be available after the event at the same website address.

American Express is a global services 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, foursquare.com/americanexpress, linkedin.com/companies/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

Brooklyn and the Bronx Win the Battle of the Boroughs

Tue, 22 May 2012 00:00:00 -0400

American Express and the National Trust for Historic Preservation today announced the popular vote winners in their Partners in Preservation Program.

The winners are:

Brooklyn Public Library, located in the Park Slope neighborhood of Brooklyn, received 9% of the popular vote and has been awarded $250,000 to restore the main entrance doors.
Congregation Beth Elohim, located in the Park Slope neighborhood of Brooklyn, received 8% of the popular vote and has been awarded $250,000 to restore the building's stained glass windows.
New York Botanical Gardens, located in the Bronx, received 7% of the popular vote and has been awarded $250,000 to restore the rock garden.
Bartow-Pell Mansion Museum, located in the Bronx, received 7% of the popular vote and has been awarded $155,000 to restore areas within the museum's gardens.

The City's first-ever citywide preservation effort powered by social media allowed the public to vote online daily for more than three weeks for the historic places most important to them. Forty historic New York sites from across all five boroughs participated in the program and competed for a part of the $3 million in funding.

"These four sites did a stellar job getting out the vote and their communities to support these important preservation projects," said Timothy J. McClimon, President of the American Express Foundation. "Their dedication and persistence paid off and should prove to have a lasting effect on their communities. Congratulations to Brooklyn Public Library, Congregation Beth Elohim, New York Botanical Garden and Bartow-Pell Mansion Museum."

"New York has shown a true sense of community through its involvement with Partners in Preservation. My congratulations to the popular vote winners," said Stephanie Meeks, president, the National Trust for Historic Preservation. "It has been exciting to watch this program bring people together to show their pride in the places that matter to them. Partners in Preservation highlights how everyday citizens' preservation efforts are critical to saving places that are important to us all."

A Partners in Preservation advisory committee of community and preservation leaders, will select sites that will receive the rest of the $ 2.1 million in grants which will be announced in June.

The 40 historic places in New York City that competed in Partners in Preservation are:

Alice Austen House Museum, Staten Island
Apollo Theater, Manhattan
Astoria Pool, Queens
Bartow-Pell Mansion Museum, Bronx
Brooklyn Public Library, Central Library, Brooklyn
Brown Memorial Baptist Church, Brooklyn
Caribbean Cultural Center, Manhattan
City Island Nautical Museum, Bronx
Cleopatra's Needle, Manhattan
Coney Island B&B Carousell, Brooklyn
Congregation Beth Elohim, Brooklyn
Duo Multicultural Arts Center, Manhattan
Ellis Island Hospital Complex, Manhattan
Erasmus Hall Campus, Brooklyn
Federal Hall National Memorial, Manhattan
Flushing Town Hall, Queens
Gateway National Recreation Area, Brooklyn
Greenpoint Manufacturing and Design Center, Brooklyn
Guggenheim Museum, Manhattan
Helen Hayes Theatre, Manhattan
Henry Street Settlement, Manhattan
High Line, Manhattan
Intrepid Sea, Air & Space Museum, Manhattan
Japan Society, Inc., Manhattan
Jefferson Market Library, Manhattan
Louis Armstrong House Museum, Queens
Lower East Side Tenement Museum, Manhattan
Mind-Builders Creative Arts Center, Bronx
Museum of the City of New York, Manhattan
New York Botanical Garden, Bronx
Our Lady of Mount Carmel Society of Rosebank, Staten Island
Queens County Farm Museum, Queens
Rocket Thrower, Queens
Rossville African Methodist Episcopal Zion Church, Staten Island
Smithsonian National Museum of the American Indian, Manhattan
St. Mark's Church in the Bowery, Manhattan
Staten Island Museum at Snug Harbor, Staten Island
Tug Pegasus & Waterfront Museum Barge, Brooklyn
Weeksville Heritage Center, Brooklyn
Woodlawn Cemetery, Bronx

About Partners in Preservation
Partners in Preservation is a program in which American Express, in partnership with the National Trust for Historic Preservation, awards preservation grants to historic places across the country. American Express has committed more than $15 million to Partners in Preservation, helping historic sites in six cities to date, which includes preservation projects in San Francisco, Chicago, New Orleans, Boston, Seattle and Saint Paul/Minneapolis and has engaged more than a million people.

Through this partnership, American Express and the National Trust for Historic Preservation seek to increase the public's awareness of the importance of historic preservation in the United States and to preserve America's historic and cultural places. The program also hopes to inspire long-term support from local citizens for the historic places at the heart of their communities.

About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Historic preservation has long been the hallmark of American Express's involvement in the community, reflecting the company's recognition of the importance of cultural sites and monuments as symbols of national and local identity, and the role that their preservation can play in attracting visitors and revitalizing neighborhoods. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, foursquare.com/americanexpress, linkedin.com/companies/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

About the National Trust for Historic Preservation
The National Trust for Historic Preservation, a privately funded nonprofit organization, works to save America's historic places to enrich our future. www.PreservationNation.org.

Zynga and American Express Launch Zynga Serve Rewards Program

Tue, 22 May 2012 00:00:00 -0400

American Express and Zynga, the world's leading provider of social games services, today announced the launch of Zynga Serve Rewards, a new program that is tied to the Serve digital wallet and breaks new ground in the prepaid card market by offering rich in-game incentives for everyday spending.

"We're excited to partner with American Express to invent new ways for people to experience Zynga play in more parts of their day," said Mark Pincus CEO and Founder of Zynga. "Together we can add surprise and delight to everyday shopping."

"We're thrilled to expand our relationship with Zynga and provide an easy way for players to earn Zynga virtual game cash by learning about Serve and signing up to receive the many benefits of our digital wallet," said Dan Schulman, President of Enterprise Growth, American Express. "As the commerce landscape continues to change, and online and offline spending converges, Serve is focused on partnering with companies like Zynga to create unique value for our customers in the environments they love."

FarmVille allows players to cultivate their Farms by plowing, planting and harvesting crops and trees. As part of the Zynga Serve Rewards phased program, FarmVille players now have the ability to plant an interactive Serve Money Tree in their Farms which will give them the ability to level up in game and earn Zynga Farm Cash for virtual awards redemption. Once players place the tree, they will be prompted to take the following four steps to earn Farm Cash in connection with the co-branded card through July 31, 2012.

Successfully register for the Zynga Serve Rewards program to receive a Zynga Serve co-branded prepaid card in the mail.
Add money to the Serve account through any funding source including a bank account, debit card, credit card, or cash using a GreenDot MoneyPak.
After receiving the Zynga Serve Rewards card, activate the card online or by calling the activations line.
Use the Zynga Serve Rewards card everywhere American Express® Cards are accepted in the U.S. for purchases and receive online, in-game rewards in real time. At launch, only the first five purchases of $25 or more on the Zynga Serve Rewards card will earn Farm Cash rewards. As the program expands, all purchases will receive in-game rewards tracked through an in-game dashboard.

Later this year, the Zynga Serve Rewards program will include new kinds of loyalty incentives, tying everyday spend to Zynga's Game Cash in ways that go beyond the initial first five purchases of $25 or more. Similar Zynga Serve Rewards programs will be introduced in additional games such as CastleVille and CityVille over the course of the year, so players can redeem rewards to purchase a variety of virtual goods from their favorite games.

For more information on Zynga Serve Rewards visit: www.Serve.com/Zynga.

About American Express
American Express is a global services 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, foursquare.com/americanexpress, linkedin.com/companies/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

About Zynga Inc.
Zynga Inc. (NASDAQ: ZNGA) is the world's leading provider of social game services with more than 290 million monthly active users playing its games, which include CityVille, Zynga Poker, Draw Something, Hidden Chronicles, FarmVille, CastleVille, Words With Friends, Empires & Allies, Scramble With Friends, Café World, The Pioneer Trail, Indiana Jones™ Adventure World and Mafia Wars. Zynga's games are available on a number of global platforms, including Facebook, Zynga.com, Google+, Tencent, Apple iOS and Google Android. Through Zynga.org, Zynga players have raised more than $10 million for world social causes.

American Express Launches Campaign to Support Fifteen Future Leaders of Social Change

Tue, 15 May 2012 00:00:00 -0400

American Express, in partnership with Ashoka Changemakers®, has recognized 15 social entrepreneurs as top innovators that are most likely to become the next generation of leaders who will solve the world's critical challenges.

"The problems the world is facing can only be tackled by a class of innovators with the social and emotional intelligence to create solutions and develop the skills required to lead," said Timothy J. McClimon, President of American Express Foundation. "These 15 emerging innovators are the future leaders of social entrepreneurship, capable of collaborating across sectors of expertise, expanding the reach of their ideas and creating true long-term impact."

The entrepreneurs will attend the American Express Emerging Innovators Leadership Boot Camp where they will have the opportunity to seek guidance from leaders including Ashoka Fellows Molly Barker and Greg Van Kirk, Andrew Yang (founder of Venture for America), Leslie Berland (senior vice president, Digital Partnerships & Development, American Express) Dan Schulman (group president of Enterprise Growth, American Express) and Antony Bugg-Levine (CEO, Nonprofit Finance Fund).

The three-day workshop in New York City is part of the American Express Emerging Innovators Campaign, which aims to accelerate and highlight the ideas of tomorrow's leaders through training, mentorship, promotion and collaboration. The campaign web page will feature videos and interviews from the 15 innovators, as well as notable thought leaders who will share knowledge and advice about leadership, social change and entrepreneurship.

The American Express Emerging Innovators are:

Yi Wei, market penetration strategist, iDE - Cambodia
Chelina Odbert, co-founder and principal, Kounkuey Design Initiative - Kenya
Alison Malmon, founder and executive director, Active Minds, Inc. - USA
Tyler Gage, co-founder and president, Runa - Ecuador
Anna Young, co-founder, LDTC+ Labs - USA
Dhruv Lakra, founder and CEO, Mirakle Couriers - India
Shiv Bhaskar Dravid, founder, The Viewspaper - India
Matthew Alexander, co-founder, Red Tierras (Mercy Corps) & Ahmsa - Colombia
Jodie Wu, founder and CEO, Global Cycle Solutions - Tanzania
Jacqui Cutts, founder, president, and CEO, Safe Mothers, Safe Babies - Uganda/USA
Lawrence Cann, founder and director, Street Soccer - USA
Emily May, co-founder and executive Director, HollaBack - USA
Mario Aleman, founder, Bright New Ideas- Nicaragua
Dalumuzi Mhlanga, founder and CEO, Lead Us Today - Zimbabwe
Peter Luckow, founder, Tiyatien Health- USA

The American Express Emerging Innovators Boot Camp is an extension of the highly successful American Express Leadership Academy that just finished its 20th session held in New York City May 8-11. The American Express Leadership Academy is a week-long program created in partnership with the Center for Creative Leadership (CCL) that immerses participants in a series of leadership training and development courses. Through the Academy, participants polish the personal, business and leadership skills needed to run a successful nonprofit enterprise in today's complex economic climate. The Innovators Boot Camp uses the same principles to help these emerging social entrepeneurs to be better equipped to lead their organizations, create sustainable solutions and, ultimately, be a positive impact on the global society.

About American Express
One of American Express' three philanthropic giving platforms is Developing New Leaders for Tomorrow. Under this giving initiative, which recognizes the significance of strong leadership in the nonprofit sector, American Express makes grants focused on training high potential emerging leaders to tackle important issues in the 21st century. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, foursquare.com/americanexpress, linkedin.com/companies/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

Ashoka Changemakers is a community of action that connects social entrepreneurs around the globe to share ideas, inspire, and mentor each other. Through its online collaborative competitions and Open Growth platform, Changemakers.com is one of the world's most robust spaces for launching, discussing, and funding ideas to solve the world's most pressing social problems. Changemakers builds on Ashoka's three-decade history and belief that we all have the ability to be a Changemaker. Ashoka is the global association of the world's leading social entrepreneurs—more than 2,500 men and women with system-changing solutions for the world's most urgent social problems.

CFOs Plan to Tap Cash and Add Jobs

Tue, 15 May 2012 00:00:00 -0400

Senior finance executives worldwide are expressing moderate optimism about the prospects for economic growth over the next twelve months. Investments in expanded operating capacity, research and development, and mergers and acquisitions are on the table as finance executives dip into their companies’ cash stockpiles. Hiring is also on the rise, with a majority of finance executives planning to increase headcount over the next twelve months.

These findings were released today in the fifth annual American Express/CFO Research Global Business & Spending Monitor, a survey of 541 senior finance executives from the U.S., Europe, Canada, Latin America, Asia and Australia.

“Finance executives are looking for ways to stimulate growth, in part by deploying some of the cash that has built up on corporate balance sheets in recent years,” said Janey Whiteside, Senior Vice President, Global Corporate Payments, American Express. “Finance executives also report they’ll be keeping a sharp eye on the bottom line, while spending selectively on activities that will drive revenue like sales and marketing and new product development.”

Moderate on Growth, Aggressive on Targets
Finance executives continue to be optimistic about the economy. This year, 64% report expectations for modest to substantial expansion over the next twelve months, but that’s lower than in 2011 and 2010 (when 75% and 71% of all respondents anticipated economic expansion, respectively).

Worldwide, the outlook for economic expansion among the countries covered by this study was brightest in India (86%), followed by the U.S. (78%), Germany (74%), Mexico (73%), Argentina (70%), Australia (69%), and Canada (67%).

In terms of when the global economy will gain greater strength, nearly half of the world’s finance executives (46%) believe that “robust” economic growth will return in their countries by the end of 2012.

Countries where finance executives are most bullish include Hong Kong, where 83% of respondents expect their local economy to return to robust growth by the fourth quarter of 2012, followed by Mexico (77%), and Germany (66%).
Respondents in the U.S. and the U.K. report a more extended growth horizon. Three-quarters of U.S. finance executives (75%) and 58% of U.K. finance executives see robust growth returning at some point after the close of 2012.

Finance executives are also setting a higher bar for their own companies’ growth. Three in five (60%) have set more aggressive growth targets compared with 2011. Although a quarter of respondents report that they are “very confident” that their companies will meet their growth targets in 2012, most respondents are only “somewhat confident” that their companies will meet their targets (56%), while 16% are “not very confident” in their companies’ ability to meet their targets.

Opening the Coffers
After amassing large cash reserves as a buffer against the economic uncertainty of the past few years, many finance executives say their companies intend to deploy these resources in 2012. Around the world, respondents who say their companies are likely to spend down some portion of their cash reserves in the course of 2012 (45%) outnumber those who say they are not (34%). This is an important change from last year, when a sizeable majority of all respondents (62%) were pursuing a deliberate cash preservation strategy.

Many finance executives say they are likely to use this cash to fund ongoing operations (74%). Other frequently cited cash destinations include activities focused on energizing growth, such as:

Expanded operations and headcount (70%)
Increased capital spending (69%)
Increased research and development (68%)
Mergers and acquisitions (66%)

U.S. respondents are even more willing than their peers working elsewhere to dip into their cash stockpiles (52%). Almost two-thirds of U.S. finance executives (63%) are likely to use these funds for M&A activity — topping their list of eventual destinations for their cash reserves.

Help Wanted
With improving economic conditions, a majority of finance executives worldwide (53%) plan to increase headcount over the next twelve months. Fewer than one in three (30%) plan to reduce jobs.

In the U.S., the hiring picture is slightly more positive compared with other participating countries, with 56% of respondents planning to add jobs and just 22% planning to cut positions.

A majority of companies that are hiring will be looking to acquire specialized skills, expertise or experience (53%). This motivation for hiring comes in well ahead of “adding jobs in order to expand production capacity” (20%) or “restoring capabilities that were reduced in recent years” (17%).

Safe, Smart and Selective
Companies are likely to take a conservative approach to spending and investment over the coming year. Nearly half of all respondents (49%) report that “modest spending and investment to support top-line growth while improving profitability” will characterize their approach to spending and investment. In contrast, only 14% of respondents say they plan to “spend and invest aggressively to boost top-line revenue.”

In keeping with that balanced approach to spending and investment, respondents say their companies will invest selectively over the next twelve months, focusing closely on investments that will support long-term growth.

50% are likely to invest more in 2012 to expand market access through increased sales and marketing activities.
46% will invest more in new product or service development.

Finance executives are holding the line on travel spending. A majority of respondents (58%) will spend the same or more on business travel over the next twelve months. However, that’s down from 2011, when 64% of respondents planned to spend the same or more over the same period of time.

To make the most of their travel budgets, companies will focus their resources on travel that is closely connected with revenue expansion. Almost nine in ten (88%) will spend the same or more on travel to meet with current or prospective customers — with 38% likely to spend more.

“Frequently, business travel is a key factor that enables companies to win on a national and global scale,” Whiteside said. “Our research suggests that when companies see a positive return on investment from travel, they will continue to spend on it.”

Volatility – Friend or Foe?
Many finance executives around the world say their companies are managing volatility effectively — and some even identify volatility as a source of competitive advantage.

One in three respondents (33%) say they are thriving on volatility and see it as a source of competitive differentiation for their companies.
Another one in three simply view it as part of the business landscape (34%).
A slightly smaller number (28%) see volatility as a problem that is likely to negatively affect their profits or growth prospects.

For the full American Express/CFO Research Global Business & Spending Monitor, click here.

About the Research
CFO Research Services surveyed 541 senior finance executives at large global companies across a wide range of industries in the U.S., Europe, Canada, Latin America, Asia and Australia. Company revenues ranged from $500 million to more than $20 billion. The research program, which included an online survey and interviews with senior finance executives, was completed in March 2012.

About American Express Global Corporate Payments
Through its Global Corporate Payments group, American Express provides the Corporate Card, Corporate Purchasing Solutions, and other expense management services to mid-sized companies and large corporations worldwide. In the U.S., it is a leading issuer of commercial cards, serving more than 70% of the Fortune 500, as well as tens of thousands of mid-sized companies. American Express issues local-currency commercial cards in more than 40 countries, and International Dollar Corporate Cards in an additional 100+ countries. For more information, visit www.americanexpress.com/corporate.

About CFO Research Services
CFO Research Services is the sponsored research group of CFO Publishing LLC, which produces CFO magazine, CFO.com, and CFO Conferences. For more than 25 years, CFO Publishing has been a trusted source of insight into the issues that matter most to finance professionals.

CFO Publishing LLC, a portfolio company of Seguin Partners, is the leading business-to-business media brand focused on the information needs of senior finance executives. CFO Publishing’s award-winning editorial content and loyal, influential audience make it a valued resource for its readers as well as an effective marketing partner for a wide range of blue-chip companies. CFO Publishing has long-standing relationships with more than a half-million finance executives.

American Express and World Monuments Fund Announce $1 Million Award for Preservation Efforts at Six Historic Sites on 2012 World Monuments Watch

Mon, 14 May 2012 00:00:00 -0400

Today, American Express and World Monuments Fund announced $1 million in grant funding to six historic sites. This is the first allocation from a $5 million, five-year grant to the World Monuments Fund to support the World Monuments Watch. Each of the six locations was among the at-risk historical sites included on the 2012 Watch list, announced in October 2011. American Express is founding sponsor of the Watch program.

The projects receiving funding are the Ruta de la Amistad in Mexico City, Mexico; Salvador de Bahia, Brazil; Balaji Ghat in Varanasi, India; the Canterbury Provincial Government buildings in Christchurch, New Zealand; the ruins of the former Cathedral of Saint Michael in Coventry, United Kingdom; and the town of Sawara in Japan.

"WMF is grateful to American Express for its longstanding commitment to the World Monuments Watch," says Bonnie Burnham, President of World Monuments Fund. "Over the years, the company's steadfast support has helped to preserve 138 sites in 62 countries, benefiting both the local populations and the many people from across the globe who visit them for their beauty and to learn about history and culture."

"American Express remains committed to preserving and sustaining historic and culturally significant sites," says Ed Gilligan, Vice Chairman of American Express. "These places serve to unite communities, and we are proud to play a role in ensuring that they continue to be enjoyed far into the future."

Historic sites selected to receive grant funding include:

Balaji Ghat, Varanasi, India: Located on the banks of the Ganges River, Balaji Ghat dates from 1735 and is an important example of the buildings, called ghats, constructed along the Ganges to serve pilgrims worshipping at the holy river. There are 84 ghats in the holy city of Varanasi, one of the world's oldest continuously inhabited cities and a major Hindu pilgrimage destination. Balaji Ghat, once the home of the Banaras Gharana music school, has suffered two collapses in recent years due to the combination of heavy visitation and lack of maintenance.

The American Express award will support the current plan for adaptive reuse of the building, transforming it into a cultural center for tourists and pilgrims, showcasing the history and heritage of the region. The initial phase of conservation will restore the first three floors of the building and provide new visitor amenities, along with exhibition installations and a performance space.

Canterbury Provincial Government Buildings, Christchurch, New Zealand: Built in the mid-nineteenth century, Canterbury Provincial Government Buildings have remained relatively unchanged through the twentieth century. The High Victorian Gothic Revival buildings were an important local destination and tourist attraction. The buildings were also used as an educational and event space until earthquakes in September 2010 and February 2011 reduced large sections of the buildings to rubble. Disaster-response efforts have understandably focused on the thousands of displaced Christchurch residents whose homes were severely damaged, as well as the rebuilding of critical infrastructure.

The American Express award will support efforts to restore salvaged artifacts and to promote the future rebuilding of the Canterbury Provincial Government Buildings, helping to ensure that the buildings' heritage lives on for generations to come.

Cathedral Church of St. Michael, Coventry, United Kingdom: More commonly known as Coventry Cathedral, the Cathedral Church of St. Michael was gutted by incendiary bombs during World War II. When a new cathedral was built, a decision was made to keep the shell of the old cathedral as a gathering place and reminder of the effects of war. Decades of exposure to the elements have deteriorated the medieval sandstone, necessitating a conservation program to ensure that the ruins endure.

The American Express award will support the development of a comprehensive management plan for the ruins. Structural stabilization and repair of the ruins will also be undertaken, along with the conservation of the medieval stained glass that was salvaged and stored during the war.

Ruta de la Amistad, Mexico City, Mexico: This series of specially commissioned outdoor sculptures was developed for the 1968 Olympic Games. Nineteen of the large-scale sculptures lined the 17-kilometer route, while three others were positioned outside of stadiums. The sculptures were created by contemporary artists from five continents. In the decades since its creation, the Ruta de la Amistad has become a major artery in Mexico City. Growth has obscured many of the artworks, and many have deteriorated from pollution and lack of maintenance, while construction of an elevated toll road along the route has necessitated the relocation of some of the sculptures. A major effort is underway to restore and relocate all of the sculptures as part of a new cultural corridor to highlight their significance and enable visitation.

The award will support conservation efforts, as well as the development of an interpretive program, including maps and signage, to support tourism.

Salvador de Bahia, Brazil: Founded in 1549, Salvador de Bahia was Brazil's first capital. Today, this modern-day metropolis of three million inhabitants contains a historic center (Centro Hist�rico) comprising a streetscape of colonial-era buildings housing some 80,000 residents. Since the 1970s, the social and physical condition of the Centro Hist�rico has deteriorated as a result of economic decline, increased crime, and decaying infrastructure.

The award will support efforts to install an interpretation center in the historic center devoted to the culture and heritage of Bahia.

Sawara, Japan: This picturesque, historic canal town in the Kantō region of Japan was included on the 2012 Watch along with other areas of eastern Japan affected by the devastating earthquake in March 2011. The town flourished during the Edo period (1603–1867) and is characterized by more than 300 historic examples of a distinctive style of Edo townhouse known as machiya, which functioned as both residence and workspace. More than a third of these were damaged by the disaster.

The American Express award will support the conservation of seven of Sawara's most treasured machiya.

World Monuments Watch
Launched in 1996 and issued every two years, the World Monuments Watch calls international attention to threatened cultural-heritage sites around the world. Watch listing provides an opportunity for sites and their nominators to raise public awareness, foster local participation, advance innovation and collaboration, and demonstrate effective solutions. The process also serves as a vehicle for requesting World Monument Fund assistance for select projects.

American Express
American Express is a global services company, providing customers with access to products, insights, and experiences that enrich lives and build business success. Historic preservation has long been the hallmark of American Express's involvement in the community, reflecting the company's recognition of the importance of cultural sites and monuments as symbols of national and local identity, and the role that their preservation can play in attracting visitors and revitalizing neighborhoods. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, foursquare.com/americanexpress, linkedin.com/companies/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

World Monuments Fund
World Monuments Fund is the leading independent organization devoted to saving the world's most treasured places. For over 45 years, working in more than 90 countries, its highly skilled experts have applied proven and effective techniques to preserve important architectural and cultural heritage sites around the globe. Through partnerships with local communities, funders, and governments, WMF inspires an enduring commitment to stewardship for future generations. Headquartered in New York, WMF has offices and affiliates worldwide. www.wmf.org, twitter.com/worldmonuments, and facebook.com/worldmonuments.

American Express Launches First-of-its-Kind Mobile Offer Engine: Delivers Recommended Merchant Offers to Cardmembers Based on Their "Spend Graph"

Mon, 14 May 2012 00:00:00 -0400

American Express today launched an industry first mobile offer engine that recommends and ranks relevant merchant offers in real time for US Cardmembers based on their spending history and location -- a Cardmember's "spend graph."

This mobile experience is being piloted via the new "My Offers" feature on the American Express iPhone App (http://aexp.co/QyW) -- which is the same convenient and secure environment where millions of Cardmembers currently manage their Card accounts. During the pilot, recommended local offers be will be concentrated in Los Angeles and New York City with an overlay of offers available nationwide at merchants like Baskin-Robbins� and Dunkin' Donuts�.

"In an increasingly crowded marketplace, where consumers are bombarded with daily deals, we saw an opportunity to help our Cardmembers save time as well as money by curating meaningful offers for them," said Josh Silverman, president of the U.S. Consumer Services Group at American Express. "At the same time, we can help our merchant partners build their business by helping them reach the right Cardmembers with the right offers at the right time. We developed our mobile offer engine with three key points of differentiation in mind: relevance, convenience and value."

My Offers is the next iteration of American Express' exclusive Smart Offer technology, which powers the company's card sync programs with Facebook, Twitter and foursquare and leverages the company's closed loop network to connect Cardmembers and merchants in order to deliver value to both. For Cardmembers, this new mobile offer engine is a one-stop-shop to easily find, add and track offers and savings from American Express and its merchant partners -- including those available through the company's Facebook, foursquare and Twitter programs. For merchant partners, the mobile offer engine helps them attract new customers and generate repeat business by delivering relevant offers to Cardmembers on the go in real time.

Accessing Customized Offers On the Go
After Cardmembers download or update the American Express iPhone app, they can click to see "Offers Available for You." The list of offers will be ranked based on relevance -- taking into account the Cardmember's spending history and current location. Cardmembers can also sort and discover offers based on location or expiration date. My Offers features a dashboard where Cardmembers can see what offers they have added to their card, how much they have saved, and what offers have expired -- all in one convenient place. To redeem an offer, Cardmembers simply add it to an eligible American Express Card and then use their Card to make the qualifying purchase. Savings are automatically delivered via a statement credit generally within three to five days.

Go Social Helps Small Merchants Go Mobile
To help fuel the mobile offer engine, the company has enhanced its Go Social offer entry tool for merchants. Launched last year, Go Social now enables small merchants to create social and mobile offers, reach Cardmember segments and receive detailed reporting on their offers. Small merchants can find out more information at www.americanexpress.com/gosocial.

About American Express
American Express is a global services 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, foursquare.com/americanexpress, linkedin.com/companies/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

American Express Cardmembers to Shop, Tap and Pay with Isis Mobile Wallet

Thu, 10 May 2012 00:00:00 -0400

American Express (NYSE:AXP) and Isis(TM), the mobile commerce joint venture between AT&T Mobility, T-Mobile USA and Verizon Wireless, today announced an agreement to make American Express' U.S. Consumer, OPEN� Small Business and Serve Cards available in the Isis Mobile Wallet(TM). American Express Cardmembers will be able to shop, tap and pay with their mobile device equipped with Near Field Communications (NFC) technology, starting in Salt Lake City, Utah and Austin, Texas later this year.

Last year the American Express network joined the Isis Mobile Commerce Platform. Now American Express is adding its Cards to the Isis mobile wallet to connect its merchant network with Cardmembers and create a secure shopping experience. With a tap of their phone, the Isis Mobile Wallet provides Cardmembers with a secure way to pay and take advantage of loyalty programs, together with the service they expect from American Express.

"Now our Cardmembers and merchants can benefit from the ease and convenience of a tap-and-go experience on a mobile phone and still enjoy the benefits, services and support of American Express," said Josh Silverman, President, U.S. Consumer Services for American Express.

Serve is American Express' new digital payments and commerce platform and its addition into the Isis Mobile Wallet opens the door to new customer segments who can benefit from the service and security of American Express, without credit checks or monthly or annual fees. Serve extends the overall reach of American Express and provides a highly flexible and open platform that unifies online, offline and mobile payments into one single account. Serve account holders will be able to use the Isis Mobile Wallet at a later date.

"The relationship with American Express underscores our commitment to ensuring a flexible and inclusive platform that offers consumers choice in mobile payments while delivering new opportunities for merchants to connect with consumers," said Michael Abbott, CEO, Isis. "Today's announcement is testament to the vision and commitment of American Express to make mobile commerce a real and positive experience for their customers."

The Isis and American Express agreement brings together leaders in the industry to build and grow the next generation of mobile commerce.

About Isis
The joint venture is between AT&T Mobility LLC, T-Mobile USA and Verizon Wireless and is based in New York City. The venture is chartered with building Isis(TM), a national mobile commerce venture that will fundamentally transform how people shop, pay and save. The Isis(TM) mobile commerce network will be available to all merchants, banks, payment networks and mobile carriers. ISIS is a trademark of JVL Ventures, LLC in the U.S. and/or other countries. Other logos, product and company names mentioned herein may be the trademarks of their respective owners. www.paywithisis.com

Victory in Procurement (VIP) Program Present Small Businesses with More Opportunities to Win Government Contracts in 2012

Wed, 09 May 2012 00:00:00 -0400

American Express OPEN, the small business division of the financial services company, today announced the expansion of its annual Victory in Procurement (VIP) program, a national initiative to help small businesses at every level of contract readiness gain insight and build relationships that help secure government contracts. For 2012, the VIP program has added partnerships with local Procurement Technical Assistance Centers (PTACs) and the New York City Department of Small Business Services (SBS) to deliver curricula and workshops to help American small businesses get on the path to winning government contracts.

According to OPEN's survey released in December 2011, "Trends in Federal Contracting for Small Businesses," small business contractors spent an average of $103,827 in time and resources seeking federal contracting opportunities in 2010, up 21 percent from 2009. Despite the increase in investment by small firms, federal government contract spending is flat. In 2011, federal government contract spending amounted to just over $535 billion in fiscal year 2011, down slightly from $537.7 billion the previous year, and down from a high of nearly $542 billion in FY2008.(1)

"Small businesses are working harder for government contracting opportunities than in previous years," said Alex Ytuarte, Senior Manager, Customer Advocacy of American Express OPEN. "To help them save time and money seeking government contracts, our Victory in Procurement initiative has added new programs and partners so business owners can get the connections and resources to forge ahead."

The 2012 VIP Program elements include:

Public-Private Partnerships:
Collaborating with local Procurement Technical Assistance Centers (PTAC), which are backed by Cooperative agreements between the Department of Defense and state/local entities, the VIP program will roll out "Marketing to the Government" workshops across the country in 2012. The first workshop took place in Chicago, Illinois on May 3 with the Women's Business Development Center, where roughly 50 small business owners learned about best practices on ways to market and successfully pitch their business to government buyers. Upcoming "Marketing to the Government" events include:

May 16 in Atlanta, GA with the Contracting Education Academy at Georgia Tech
May 30 in San Diego, CA with the San Diego Contracting Opportunity Center

More events will be added throughout the year.

The VIP program has also joined forces with the New York City Department of Small Business Services to create NYC Teaming – a joint initiative designed to educate business owners on how to create well-orchestrated matches with other businesses and how to market to the government as well as other firms. Upcoming NYC Teaming events include:

Marketing Skills Workshop – May 22 in New York, NY
Business Matching Event – June 13 in New York, NY

"Business owners who team up with other small businesses to bid on contracts see the greatest results," said Ytuarte. "Our research has found that business owners who engage in teaming win 50 percent more federal contracts than active contractors overall."

Victory in Procurement Events:
Similar to 2010 and 2011, the VIP program will continue hosting events across the country. In 2012, for the first time, events will feature one-on-one meetings between government buyers and large prime contractors and small business owners. The first matchmaking event took place in Dallas, Texas on April 25, where nearly 300 small business owners met with 32 procurement officials and prime contractors. At upcoming VIP events, attendees will also get access to a full day of interactive workshops on government contracting topics, networking opportunities and keynote speeches by government officials and industry experts. Upcoming events include:

May 9 in Miami, FL
June 15 in Washington, D.C.
August 2 in Boston, MA

Business owners can register for free at www.vipgovtcontracting.com.

Mentorship Opportunities:
In addition to live events, small contractors have an opportunity to take part in the annual VIP mentorship program, which consists of 12 hours of free intimate communications and guidance with a government contracting expert. Participants will be educated on a host of topics, including the GSA schedule, business certifications, teaming arrangements and the importance of networking. Since 2009, OPEN has mentored twelve small business owners looking to grow their business through government contracting. For more information, visit openforum.com/governmentcontracting/resources/mentor.

Another way for business owners to tap experts and receive guidance is through the American Express OPEN Victory in Procurement group on LinkedIn – an interactive community of business owners, procurement specialists and government officials. Members can access timely discussions, current contracting opportunities and potential teaming partners.

Give Me 5 program for Women-Owned Small Businesses:
Business owners also have free access to biweekly educational webinars as part of Give Me 5, a national program named after the 5% federal contracting goal for women-owned businesses. Created by American Express OPEN and Women Impacting public Policy in 2008, the program supported the passing of the Women's Procurement Rule – which aims to expand federal contracting opportunities for women-owned small businesses and went into effect in February 2011. Along with the one hour webinars, Give Me 5 hosts live events to help women entrepreneurs access and win government contracts. To learn more, visit www.GiveMe5.com.

About American Express OPEN
American Express OPEN is the leading payment card issuer for small businesses in the United States and supports business owners with products and services to help them run and grow their businesses. This includes business charge and credit cards that deliver purchasing power, flexibility, rewards, savings on business services from an expanded lineup of partners and online tools and services designed to help improve profitability. Learn more at OPEN.com and connect with us at openforum.com and twitter.com/openforum.

American Express is a global services 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, twitter.com/americanexpress and youtube.com/americanexpress.

(1)See usaspending.gov for additional information. FY2011 spending figure is as of January 2012 and may change as new agency data become available.

American Express Partners with Barnes and Noble College to Launch American Express� Campus Edition Prepaid Card in More Than 500 U.S. Campus Bookstores

Wed, 09 May 2012 00:00:00 -0400

American Express announced today the launch of American Express Campus Edition Prepaid Card, a reloadable prepaid Card available in more than 500 Barnes & Noble college bookstores across the United States. Campus Edition Prepaid Card will provide college students with a smart spending and budgeting tool that can be used anywhere American Express� Cards are accepted.

"We're excited to partner with Barnes & Noble College Campus Bookstores to provide college students with an everyday spending card," said Laura Kelly, SVP and GM of the Americas, Global Payment Options, American Express. "American Express Campus Edition Prepaid Card is a great solution for college students looking for a way to budget and spend wisely, plus it comes with some of the same benefits synonymous with American Express."

The temporary one-time load Card(1) is available for purchase for $4.95 in more than 500 Barnes & Noble college bookstores nationwide and can be funded with multiple loading options at the register with any dollar amount from $25 to $500. Alternatively, customers can order the permanent, personalized Card online for free at americanexpress.com/campusedition. If a customer purchases a temporary Card and wants to get the full benefits of the American Express Campus Edition Card, the customer must order their permanent, personalized Card at americanexpress.com/campusedition. Once the personalized Card is activated, the funds from the temporary Card will be transferred to the personalized Card.

Once Cardmembers receive their personalized Card, funds can be loaded online through a bank account, such as a savings or checking account, and through cash loading(2) via MoneyPak or at the register at participating Barnes & Noble Campus Bookstores. The ability to load via direct deposit will be available soon. The personalized card comes with ATM access and there is no fee from American Express for the first monthly ATM cash withdrawal, after which a $2.00 fee applies per withdrawal (bank network charges also apply to any ATM cash withdrawal). There are no fees for monthly maintenance, activation, balance inquiries, alerts, Card replacement, foreign currency conversion or loading via bank account.

The temporary card can be used anywhere in the United States where American Express Cards are accepted and the personalized card can be used anywhere around the world where American Express is accepted. The funds on the temporary and personalized card do not expire, and if lost or stolen, the funds can be replaced. A customer must be 18 years of age or older to obtain the temporary or personalized prepaid Card. American Express does not market charge or credit cards to students.

Benefits and Protection
Personalized Cardmembers are entitled to valuable protections and benefits (subject to terms and conditions), including:

Purchase Protection(3) which can protect against accidental damage or theft of eligible items for 90 days from date of purchase, up to $1,000 per occurrence and up to $50,000 per Cardmember account per calendar year.
Roadside Assistance which provides dispatch services including towing, battery recharge, gas delivery, locksmith service and changing a flat tire.
Global Assist � Hotline services provide trip planning assistance as well as emergency assistance when the Cardmember is traveling more than 100 miles from home.
Exceptional 24-7 customer service Cardmembers have come to expect from American Express.
Entertainment Access provides Cardmembers access to special savings, exclusive events and advance tickets to some of the hottest events in music, sports and theater.
American Express Deal Center for Cardmember discounts at select merchants.

Online management tools provide controls and full transparency for how the Card is being used. Personalized Cardmembers can:

View real-time transaction history and monitor spending.
Receive email or text alerts for low funds or notifications when a transaction has occurred. (Check with your mobile service provider for fees that may apply to text messages.)
Disable/enable ATM access for the Card.
Inquire about Card balance 24 hours a day/7 days a week.
Schedule reloading of funds automatically.

For more information, visit americanexpress.com/campusedition.

About Barnes & Noble, Inc.
Barnes & Noble, Inc. (NYSE:BKS), the world's largest bookseller and a Fortune 500 company, operates 691 bookstores in 50 states. Barnes & Noble College Booksellers, LLC, a wholly-owned subsidiary of Barnes & Noble, also operates 650 college bookstores serving over 4.6 million students and faculty members at colleges and universities across the United States. Barnes & Noble conducts its online business through BN.com (www.bn.com), one of the Web's largest e-commerce sites, which also features more than two million titles in its NOOK Bookstore™ (www.bn.com/ebooks). Through Barnes & Noble's NOOK™ eReading product offering, customers can buy and read digital books and content on the widest range of platforms, including NOOK devices, partner company products, and the most popular mobile and computing devices using free NOOK software. Barnes & Noble is proud to be named a J.D. Power and Associated 2012 Customer Service Champion and is only one of the 50 U.S. companies so named. General information on Barnes & Noble, Inc. can be obtained via the Internet by visiting the company's corporate website: www.barnesandnobleinc.com.

(1)Temporary Card can be used at U.S. locations where American Express is accepted. Temporary Card is not personalized and cannot be used at ATMs.
(2)Retail Fees apply for cash loading
(3)Purchase Protection is underwritten by AMEX Assurance Company, Administrative Office, Phoenix, AZ. Coverage is determined by the terms, conditions, and exclusions of Policy AX0951 or Policy PP-IND and is subject to change with notice. This document does not supplement or replace the Policy.

American Express Chief Financial Officer to Participate in the Barclays Capital Americas Select Franchise Conference

Wed, 09 May 2012 00:00:00 -0400

American Express Chief Financial Officer, Dan Henry, will participate in the Barclays Capital Americas Select Franchise Conference in London on Wednesday, May 16, 2012, at 8:30 a.m. (local time). Mr. Henry will participate in a question and answer session relating to the Company's recent financial performance.

Summer Travelers Seek Vacations With Substance

Wed, 09 May 2012 00:00:00 -0400

The latest American Express Spending & Saving Tracker finds that summer travel will remain strong, but the consumer mindset has shifted. Almost 140 million Americans (59%) are planning a summer vacation. They expect to spend an average of $1,180 per person, on par with 2011. But, 48% seek more meaningful experiences and say they will immerse themselves in the culture and heritage of their destination. The survey also indicated that this year's travelers are more likely to go abroad and take advantage of holiday weekend getaways.

"Consumers want deeper, richer experiences when they travel," said David Patron, Vice President of American Express Travel. "When a traveler visits a destination they want to understand the local traditions and feel like they are getting a true insider experience."

For the full data report, and past Spending & Saving Tracker results, click here.

Immersion Conversion
More travelers (22% vs. 19% in 2011) are looking to incorporate their personal hobbies and interests into the travel experience, whether it's a culinary retreat, a hiking expedition, or a spa escape. This is especially true for those planning weekend getaways, where 36% (up from 22% in 2011) noted an interest in embedding cultural activities into their itineraries, including museum visits, historical sites, and national monuments. The most popular destinations for domestic travel this year include Florida (19%), California (15%, up from 8% last year), New York (10%) and North Carolina (9%).

While domestic travel will make up the majority of vacations this summer, a larger number of Americans plan to broaden their horizons and head overseas, with 16% opting to travel internationally. The Cayman Islands (7%), Italy (7%), and the UK (6%) ranked as the top international destinations for summer travelers, while Italy (10%) and the UK (11%) resonated most with the affluent market.

Long Weekend Trips Spike….Will the Price of Gas?
More Americans plan to travel over Holiday weekends this summer (43% up from 36%), particularly over the Fourth of July and Memorial Day weekends, with a quarter of travelers planning three or more weekend trips throughout the summer.

With most looking to get away for a short stint, weekend traffic jams may get worse. Forty-two percent are keeping costs down by driving to their destinations, with 69% planning to travel by car. But while driving may be more cost effective than flying, almost half (48%) acknowledged that rising gas prices will affect their driving plans. Among those who say they won't, most admit they'll come a point where they will have to put their foot (and gas nozzle) down. Americans sticking to their current driving plans say they'll tolerate an average of $5.00 per gallon before they'll be forced to reduce their driving.

Camp WannaGetAway
While family travel, 'mancations,' and girlfriend getaways remain popular this summer, the data suggests a trend towards tranquil travel, whether that means a vacation alone or without the kids. More will pack for one this year, with 16% of travelers planning to hit the road and skies alone, up from 12% in 2011.

Parents are also taking advantage of their children's time at camp to travel. Nineteen percent (vs 16% in 2010) plan to send their children to overnight camp for the summer, and 66% say they will take advantage of this time to travel without them.

Staying Connected and Getting Away
More than half of summer travelers (56%) are going online to book their travel, but 29% admit they feel overwhelmed by the vast amount of information the internet provides.

Once at their destination, 83% plan to stay connected and nearly two thirds (64%) of those expect to check their work email daily over their vacations. When it comes to the cost of staying connected, fewer consumers (65% vs 72% in 2011) are unwilling to pay for internet service. Nearly 40% use their Smartphone for navigation, local deals, and planning experiences during their trips, while 50% are referencing the internet to do the same.

Reward Points and Loyalty Programs
For many, travel wouldn't be the same without their loyalty program, whether than means earning points and miles or using them to offset the cost of their vacation. Forty percent of consumers surveyed belong to a loyalty program with either reward points or frequent flier miles. To keep costs down, 19% percent of summer travelers (up from 15% in 2011) are using rewards points to book. Almost half (47% vs 43% in 2011) are charging their travel expenditures to a credit or charge card.

About the American Express Spending & Saving Tracker
The American Express Spending & Saving Tracker research was completed online among a random sample of 1,500 adults, including the general U.S. population, as well as an Affluent demographic, defined by a minimum annual household income of $100,000. Interviewing was conducted by Echo Research between April 17 and 20, 2012. Overall, the results have a margin of error of +/- 2.2 percentage points at the 95 percent level of confidence. For access to previous American Express Spending & Saver Tracker results, please visit inr.synapticdigital.com/americanexpress/spendsave.

About American Express
American Express is a global services 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, twitter.com/americanexpress and youtube.com/americanexpress.

Consumer Action and American Express Offer Consumer Guides to Prepaid Cards

Tue, 08 May 2012 00:00:00 -0400

Prepaid cards are the financial tool of the moment for a growing number of consumers. They are helping consumers to manage their finances, pay bills and take advantage of direct deposit services -- all without a bank account.

A new generation of reloadable prepaid cards is giving many consumers a safe, easy and economical way to make purchases online or in person. But, like most consumer decisions, the key to finding the best value is being well informed.

The free education series, produced in partnership by American Express and Consumer Action, includes an easy-to-read multilingual booklet, two short videos and a question-and-answer guide. For consumers who rely on cash and checks, prepaid is often a good alternative, and those who primarily use debit and credit cards may also find them useful for online shopping, budgeting and distributing funds to family members.

"The prepaid reloadable card industry has historically been laden with hidden fees and confusing terms, but new competition is beginning to change that," said Alpesh Chokshi, President, Global Payment Options, American Express.

"Competition in the prepaid card industry has brought more 'fee lite' card options," said Ken McEldowney, Consumer Action executive director. "But finding the right card is still a challenge. Our new project aims to help consumers compare card offerings and make an intelligent choice about which prepaid card to use."

Mr.Chokshi added: "We're excited to offer consumers a one-stop shop of resources that will help them find the prepaid card that's right for them."

For anyone actively shopping for or already using a prepaid card, Consumer Action offers these top three prepaid card tips:

Choose a consumer-friendly card.
- Ask about fraud protection and how errors are resolved.
- Look for free customer service.
- All else being equal, pick the low-fee card that offers useful "perks," like roadside assistance or travel insurance.
Base your card selection on how you plan to use the card.
- If you'll be making a lot of purchases, look for a card without transaction fees.
- If you'll be withdrawing cash, look for a card with a free ATM network.
- If you'll be traveling abroad, look for a card with a low -- or no -- currency conversion fee.
Change your habits to avoid fees whenever possible.
- If your card allows you to get cash back when making a purchase at a grocery store, use this option rather than at an ATM where you might incur a fee.
- If checking your balance online is free, don't check it at the ATM.
- If your card is subject to an inactivity fee, use your card on a regular basis -- or spend down and close the account -- before you could lose money on inactivity fees.

The brochure is available in English, Korean, Spanish and Vietnamese, and will be available in Chinese soon. It explains how the cards work and offers advice for selecting the right card, controlling costs and managing the card successfully. For those who want to delve deeper, there's an in-depth question-and-answer guide. All materials -- printed and electronic -- are free for individuals and organizations involved in non-profit or community educational work. These entities can order printed copies in bulk or freely reproduce the electronic materials for educational purposes.

The two short videos will be available to the public on Consumer Action's YouTube Channel (www.youtube.com/consumeractionvideos), American Express' YouTube Channel (www.youtube.com/americanexpress), and on DVD for community-based organizations that request them. The two videos include:

Reloadable Prepaid Cards: An overview of prepaid cards, including how they work and their pros and cons
Choosing and Managing a Reloadable Prepaid Card: A five-minute guide to narrowing your card options, reducing or avoiding fees and managing your card wisely

Consumer Action
Consumer Action (www.consumer-action.org) has been a champion of underrepresented consumers nationwide since 1971. A nonprofit 501(c)3 organization, Consumer Action focuses on financial education that empowers low- to moderate-income and limited-English-speaking consumers to financially prosper. It also advocates for consumers in the media and before lawmakers to advance consumer rights and promote industry-wide change. By providing financial education materials in multiple languages, a free national hotline, and surveys of consumer financial products, the organization helps consumers assert their rights in the marketplace and make financially savvy choices. More than 8,000 community and grassroots organizations benefit annually from its extensive outreach programs, training materials and support.

About American Express
American Express is a global services 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, foursquare.com/americanexpress, linkedin.com/companies/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

Social Media Raises the Stakes for Customer Service

Wed, 02 May 2012 00:00:00 -0400

Americans are growing more frustrated with customer service and businesses are feeling the heat as consumers tell an increasing number of people about both their positive and poor service experiences. The 2012 American Express® Global Customer Service Barometer also found that consumers who have used social media for service wield the greatest amount of influence. They tell significantly more people about their service experiences, and say they’d spend 21% more with companies who deliver great service – compared to 13% on average.

The survey, which was conducted in the U.S. and ten other countries, also reveals a sorry state of service in general. Nine in ten of Americans surveyed (93%) say that companies fail to exceed their service expectations. What’s more, one out of two respondents (55%) walked away from an intended purchase in the past year because of a poor customer service experience.

The most popular ways consumers address service inquiries continue to be speaking to a live representative (either on the phone or face-to-face), and through company website or e-mail. That said, one in five consumers (17%) say they’ve used social media at least once in the last year to obtain a customer service response, and this relatively small group of consumers is extremely engaged and vocal.

“Delivering outstanding service creates impassioned advocates and can serve as a powerful marketing weapon for companies,” said Jim Bush, Executive Vice President, World Service, American Express. “For example, consumers who have used social media for service in the last year are willing to pay a 21% premium at companies that provide great service. They also tell three times as many people about positive service experiences compared to the general population. Ultimately, getting service right with these social media savvy consumers can help a business grow.”

People who have used social media for customer service at least once in the last year are willing to spend substantially more (21%) with companies they believe provide great service – in contrast with the general population (13% more) and those who have not used social media for customer service (11% more). They are also far more vocal about service experiences, both good and bad. In addition, more than 80% of these consumers say they’ve bailed on a purchase because of a poor service experience, compared to 55% overall.

Service Topic	Consumers Who Haven’t Used Social Media for Customer Service	General Population	Consumers Who Have Used Social Media for Customer Service
Additional amount consumers are willing to spend for excellent service	11% more	13% more	21% more
Have not completed an intended purchase because of a poor customer service experience in the past year	49%	55%	83%
Number of people consumers will tell about good customer service experiences	9 people	15 people	42 people
Number of people consumers will tell about bad customer service experiences	17 people	24 people	53 people

Consumers who have used social media for customer service do it for a number of reasons. The “Social Top 5” activities for these Americans are:

1)	Seeking an actual response from a company about a service issue – 50%
2)	Praising a company for a great service experience – 48%
3)	Sharing information about your service experience with a wider audience – 47%
4)	Venting frustration about a poor service experience – 46%
5)	Asking other users how to have better service experiences – 43%

However, these consumers feel companies are getting better at social media service: 60% of this group feels companies have improved their response times through social media over the past year.

Eyes on the Prize
Social media is not the only way people are spreading the word about their customer service experiences. The general population will tell significantly more people about their customer service experiences than in 2011, highlighting the importance for businesses of treating every customer interaction as an opportunity to build customer loyalty and a positive brand image.

Americans will tell an average of 15 people about positive experiences – up 67% from 9 last year.
Americans will tell an average of 24 people about poor experiences – up 50% from 16 in 2011.

More than three in five Americans (61%) feel companies have not increased their focus on providing better service, and of this group, 32% feel businesses are paying less attention to providing good customer service – an increase from 2011 (26%).

This dissatisfaction with the state of customer service overall helps ensure companies that deliver great experiences are recognized – and rewarded.

Two in three Americans (66%) said they would spend an average of 13% more with a company that provides excellent customer service – matching 2011 and up from 9% more in 2010.

“Companies must keep their eyes on the prize when it comes to customer service,” said Mr. Bush. “Outstanding service means exceeding customers’ expectations as you seek to meet their needs. Companies that do this consistently understand that exceptional service is a real competitive advantage.”

Top Customer Service Gripes
Nerves are fraying because of subpar service. More than a third of respondents (35%) report that they have lost their temper with a service professional in the past year. When asked about the top customer service irritants most likely to lead them to switch brands in 2012, eight in ten (79%) Americans cited one of these “Big Four Gripes”:

The Big Four Service Gripes

1)	Rudeness: An insensitive or unresponsive customer service representative – 33%
2)	Passing the Buck: Being shuffled around with no resolution of the issue – 26%
3)	The Waiting Game: Waiting too long to have an issue resolved – 10%
4)	Being Boomeranged: Forced to continually follow up on an issue – 10%

How long are Americans willing to wait for customer service before slamming down the receiver? The average consumer hits his or her boiling point after 13 minutes on hold – creating a golden opportunity for companies to increase customer satisfaction by beating the clock. Similarly, Americans will wait an average of 12 minutes for in-person help at establishments such as banks, retail stores or restaurants.

Tips for Delivering Better Service
Clearly, many companies have room for improvement in the eyes of consumers both in the U.S. and around the world. American Express offers the following tips that can help almost any company provide a better service experience and improve how it is viewed by its customers include:

1)	Great service starts with the people who deliver it – Motivate and enable your employees to go above and beyond for your customers.
2)	It’s all about relationships – Good service comes down to forming relationships with customers. Look at customer service as an opportunity to deepen your connection with your customers, not just as a transaction to be completed.
3)	Make it easy for customers to do business with you – Listen to your customers and use their feedback to improve your product and service.
4)	Exceeding expectations is easier than you think – Customers aren’t unreasonable and don’t except every problem to be solved instantly. They simply want to be treated like individuals, know that you genuinely care about their issue, and are working hard to address it.
5)	Listen to your employees – They are closest to your customers and understand the most about what customers want and need. Don’t miss out on their incredibly valuable insight.
6)	Seek opportunities to make an impression – Understand and act on the notion that every customer interaction is an opportunity to create a connection and to drive customer loyalty and engagement.

About the American Express Global Customer Service Barometer
For the third consecutive year, the American Express® Global Customer Service Barometer was conducted in the U.S. and ten other countries, exploring consumer attitudes and preferences toward customer service. Research was completed online among a random sample of 1,000 U.S. consumers aged 18+. Interviewing was conducted by Echo Research between February 22-29, 2012. Overall, the results have a margin of error of +/- 3.1% at the 95 percent level of confidence. The same survey methodology was used in Canada, Mexico, France, Germany, Italy, the U.K., the Netherlands, Australia, Japan, and India.

About American Express World Service
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. American Express World Service is an integrated, global network comprised of 20,000 employees across nearly two dozen proprietary servicing locations. This team provides service to American Express customers globally in more than a dozen languages and across a broad array of channels, including telephone, internet, e-mail and mobile. The company’s service ethos, Relationship Care®, focuses on deepening relationships with customers by creating an emotional connection and providing tailored information about how to get the most out of their cards and relationships with American Express. The company is a five-time recipient of the J.D. Power and Associates “Highest in Customer Satisfaction among U.S. Credit Card Companies” and has received this study’s top ranking every year since it was launched in 2007. American Express World Service has also been recognized as a leading service provider in many markets around the world. Learn more at www.americanexpress.com and connect with us on www.facebook.com/americanexpress, www.twitter.com/americanexpress and www.youtube.com/americanexpress.

American Express Announces New Senior Executives in U.S. Consumer Services Business

Wed, 02 May 2012 00:00:00 -0400

American Express Company (NYSE:AXP) today announced Katrina Lane and David Yoo have joined the U.S. Consumer Services leadership team.

Katrina Lane will lead the company's Consumer Cards and Experiences team as Executive Vice President, managing the consumer cards products and services portfolio. Most recently, Ms. Lane served as Chief Technology Officer for Caesars Entertainment, an acknowledged leader in customer relationship management (CRM) with 50 properties on four continents and $8 billion in revenue. In her new role, Ms. Lane will create new offerings to enhance the Cardmember experience and oversee customer segmentation, retention and advocacy.

As Senior Vice President, will lead the Commerce Innovation team where he will pioneer new applications and experiences that help American Express Cardmembers shop smarter – whenever and wherever they choose. Mr. Yoo joins American Express from Boku, a leading global mobile payments network that enables customers to purchase virtual goods using their mobile phone numbers. During his tenure as Senior Vice President of Strategy, Product and Marketing, Mr. Yoo helped Boku grow to 25 million-plus users in 66 countries through more than 240 carrier partners that connect to merchants such as Facebook, Disney and Zynga.

Background on Katrina Lane:
Ms. Lane joined Caesars in 2004 and was responsible for a range of technology and marketing activities including most recently oversight of the firm's IT application development, support, infrastructure, innovation, gaming, websites and security groups. While in the marketing department, she led CRM and loyalty program enhancements, media planning, marketing analysis, internet marketing, and call center operations.

Prior to Caesars, Ms. Lane was Senior Vice President of Marketing for AfterHours Formalwear, a division of May Department Stores. In this role, she oversaw all marketing activities for 330 stores in 27 states, which generated $200 million in sales. Earlier in her career, she served as a consultant at McKinsey & Company, working in their CRM practice to help consumer credit, banking, and other clients build leading CRM and membership marketing capabilities. Ms. Lane began her career as an academic earning her B.S. in Physics from Stanford and her M.S. and Ph.D. in Experimental Physics from Cornell University.

"It is very rare to find a person with such deep analytical academic training, marketing and technology experience; and to have led these functions in a best-in-class environment. In Katrina we have the benefit of all three," said Josh Silverman, President of the U.S. Consumer Services Businesses.

Background on David Yoo:
Prior to joining Boku, Mr. Yoo was Principal Product Manager at PayPal, where he led the $30 billion marketplace payments group and successfully launched eBay express and digital goods payment. He also led PayPal's product strategy, product management, and user adoption activities, and was responsible for increasing PayPal's user acquisition, activation and activity through new products and features. He then moved to Tellme, a speech recognition platform that allows consumer products, like cars and mobile devices, to speak to their owners. Tellme was acquired by Microsoft in 2007. Mr. Yoo also served as Chief Product Officer at AT&T Interactive where he focused on local media and advertising. Mr. Yoo holds a B.S. in Managerial Economics from University of California, Davis.

"David has a proven record of being someone who can ‘see around corners' to anticipate where the market is going, and develop ingenious and pragmatic strategies to win," said Silverman. Moreover, he has demonstrated great skill translating those strategies into powerful digital consumer products with mass appeal. Combining American Express's assets with David's expertise will allow us to quickly bring digital solutions to market that create and expand our competitive advantage."

About American Express
American Express is a global services 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, twitter.com/americanexpress and youtube.com/americanexpress.