Amex is revamping its rewards program

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This week's highlights: Doctors fear the US opioid epidemic will be replaced by a new prescription drug crisis, Amex, Discover, Mastercard, and Visa debuted a joint buy button, Tesla clears a major hurdle to begin electric vehicle production in China, and much more
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American Express is retooling its rewards for two key business segments

American Express' Q3 2019 earnings revealed that its US billed business increased 8% year-over-year, which marks the second straight quarter where its growth increased or remained the same.

Now, Amex is set to revamp its rewards programs for two key parts of its business, which could boost its performance in the future.

Amex announced a corporate program that could increase spend from businesses and startups. Additionally, it revealed a new set of rewards for the Delta SkyMiles American Express card portfolio, which is part of its largest cobrand partnership.

Business Insider Intelligence's Daniel Keyes has the full story.
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BRIEFING HIGHLIGHTS

Doctors fear the US opioid epidemic will be replaced by a new prescription drug crisis

A study from Quest Diagnostics delivers insights into the threat posed by the US' opioid epidemic — including the fact that physicians fear the prescription drug epidemic won't end with opioids. Read More →

Amex, Discover, Mastercard, and Visa debuted a joint buy button

American Express, Discover, Mastercard, and Visa have debuted their online checkout experience that's based on the Secure Remote Commerce (SRC) standard developed by EMVCo. Read More →

Tesla clears a major hurdle to begin electric vehicle production in China

China's Ministry of Industry and Information Technology added Tesla to a list of approved automakers, clearing the electric vehicle (EV) maker to begin production in the country. Read More →

Mastercard took 2 major steps to boost real-time payments solution

Mastercard expanded its Bill Pay Exchange product to new clients and launched a business-to-business real-time payment solution dubbed Payment on Delivery. Read More →

Chime outage leaves customers without access to their money

US neobank Chime was hit by an outage that left customers unable to make withdrawals or deposits and without access to Chime's website and mobile app for more than 24 hours. Read More →

SpaceX could miss Elon Musk's goal of launching Starlink in 2020

SpaceX plans to launch its Starlink satellite-broadband service in 2020 – but challenges with network buildout, speed, and price could impede its roll out. Read More →

Mastercard partnership paves the way for Revolut's US launch

Revolut is launching in the US by the end of 2019, following a deal with Mastercard where US debit cards and half of European cards will carry Mastercard branding. Read More →

American Express is launching corporate credit cards for startups

American Express is launching a corporate credit card program aimed at startups, which will see Amex muscle into a segment that startups like Brex have successfully grabbed a slice of in recent years. Read More →

Ford, Hyundai, Tesla eye EVs for product lineups amid Q3 earnings

The automotive industry is in the midst of a transformation as automakers shift strategies to innovate and incorporate electric vehicles (EVs) into their product lineups. Read More →

Zuckerberg will press on with Libra despite criticism from Congress

Zuckerberg vows to press on with Libra and suggests solutions to mollify regulators' concerns — but with Facebook the biggest obstacle to the project, Libra appears to be doomed. Read More →
 
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RESEARCH IN FOCUS

The Rise of Banking-as-a-Service

Banking-as-a-Service (BaaS) platforms enable fintechs and other third parties to connect with banks' systems via APIs to build banking offerings on top of the providers' regulated infrastructure. This means banks that launch BaaS platforms can actually benefit from fintechs entering the finance space, as it turns fintechs into customers rather than just competitors. This report looks at the benefits banks stand to gain by offering BaaS platforms, discusses key players in the industry that have already successfully launched BaaS platforms, and recommends strategies for FIs looking to move into BaaS. Learn More →

AI in Telecommunications

For many global telecoms, shoring up market share under today's pressures while also future-proofing operations means having to invest in AI. Through its ability to parse large data sets in a contextual manner, provide requested information or analysis, and trigger actions, AI can help telecoms cut costs and streamline by digitizing their operations. This report will discuss the forces driving firms to AI, pinpoint some of the top use cases of AI along the customer journey, and identify some of the leading companies in the space. Learn More →

Personal Finance Management

The ability to conduct banking activities via a sleek mobile app is no longer enough to satisfy consumers — it's table stakes. To differentiate, banks now need to work to provide additional tools that keep users engaged in-app and enable them to better manage their financial lives. This report analyzes the different approaches banks can take to offer their customers better personal finance management features as competition from fintechs increases. It explains the benefits and potential challenges related to each approach, provides insights into how the industry may change in the future, and identifies what banks can do to stay on top of developments. Learn More →
 
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CHARTS OF THE WEEK

New data shows there's a huge age gap in how customers make purchases online.

New data shows there's a huge age gap in how customers make purchases online.

Young consumers are frustrated that doctors aren't digitizing administrative tasks.

Young consumers are frustrated that doctors aren't digitizing administrative tasks.

Fewer insurtechs are launching as early winners are dominating the space.

Fewer insurtechs are launching as early winners are dominating the space.
 
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