Amex, SIA partner to launch first SME business travel card
_A Monitor Report 16 Aug, 2019 | 1300 Views|-+
Geoff Begg, SVP and GM, Global Commercial Services Asia Pacific, American Express and Campbell Wilson, SVP, Sales and Marketing, Singapore Airlines are seen launching the business travel card, among others
Changi : American Express is launching a corporate travel credit card for small and medium-sized businesses in Singapore through a partnership with Singapore Airlines (SIA).
American Express and SIA have collaborated on the American Express Singapore Airlines Business Credit Card designed to connect small- and medium-sized businesses with travel rewards. The card also offers complimentary travel insurance, access to airport lounges and other benefits for SMB travellers on SIA, including the ability to earn HighFlyer points for SIA business travel. Payers can also earn SIA's KrisFlyer miles for personal use, the firms noted.
"Singapore Airlines' HighFlyer programme was launched two years ago to reward and support SMEs, including their endeavours to expand overseas," said Campbell Wilson, Senior Vice President, Sales and Marketing, SIA in a statement.
"This new product enables SMEs to maximise their HighFlyer privileges by earning more rewards faster, which can be redeemed for a range of benefits that improve their bottom line even as employees themselves continue to earn KrisFlyer miles for their own personal benefit."
In announcing their co-branded small business credit card, American Express and SIA also released the results of research they conducted in June, which surveyed 200 small businesses. Of those companies, 70 per cent said they have employees that travel for work at least two times a month.
Nearly three-quarters of surveyed SMEs also reported that they expect to grow their business in the coming year, though cited cash flow management and increased competition as key challenges to cross-border expansion.
"SMEs have different needs and they don't always get the same level of support as larger companies," said Celine Chua, Vice President and General Manager, Global Commercial Payments - Singapore, American Express in another statement.
"Our survey reaffirms this as 59 per cent of SMEs said partnering [with] established companies for guidance and support would have made their expansion overseas easier."