My overstuffed, black leather wallet, bulging with receipts, loyalty cards and random coupons, may be a relic of the past soon if credit card companies have their way.
Everyone wants to control your digital wallet from Google to your local bank to Verizon and Sprint. The concept of a cashless society isn't far off with the advent of peer-to-peer payment systems from Visa and Paypal via Facebook, but you'll still need the five spot for the hotel porter or pizza delivery guy. There's no denying that cash tips are serious business for many in the workforce.
This week, global credit card giant American Express launched a digital savings program that combines substantial savings for the consumer and brand recognition for advertisers via Twitter. It’s relatively simple for the user but incredibly complex on the back end.
How it works
1. Twitter users link their American Express card account with a Twitter handle. After reviewing a nine-page disclaimer with the fine print, you're up and running.
2. Follow @americanexpress on Twitter to track deals.
3. See a deal that you like and re-tweet it with the unique hashtag. (HINT: A hashtag has the # sign before it.)
4. Buy from the merchant, service or store offering the discount.
5. Sit back and wait for the savings to appear on your statement.
A sample of the savings via American Express and Twitter
Recent Twitter deals via the new program include:
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Watch this clip from American Express.
The beauty is there are no coupons to clip, rebate forms to complete or loyalty punch cards to present. American Express and a complex network of servers and databases magically handle it for you. Learn more or sign up for yourself .
As retailers, restaurants and merchants continue to find ways to attract customers and fully embrace social media, American Express has found a creative way to engage two of their most important audiences: cardholders and merchants.
Talk about offering an ROI on social media.
Let the savings and Tweets begin.