American Express has added a “Link, Like, Love” application on its Facebook page that allows customers to link card accounts to their own pages and provides personalized merchant deals and entertainment offers among other perks.
“We’re running algorithms to serve you up offers that are relevant based on your likes, your preferences and your friends,” Edward Gilligan, the vice chairman of the New York-based AmEx, said, Bloomberg.com reports.
In order to compete for online and mobile payments against rivals like Visa and EBay, American Express has ramped up its social networking technology over the years with new executive hires such as Daniel Schulman, a former Sprint Nextel executive.
The deal with American Express allows Facebook to capitalize on the rapidly-growing market for daily online discount deals provided by sites such as Groupon and LivingSocial, according to Bloomberg.com.
Facebook recently began allowing merchants like Gap and McDonalds to offer discounts through its service.
“You don’t have to pre-buy anything, you don’t have to print out a coupon, you don’t have to show your smartphone to a sales clerk to get the value of the offer,” Gilligan said, according to Bloomberg.com.
Store owners will be able to track how many new customers and how much in sales was generated through specific advertising campaigns, Luke Gebb, AmEx’s vice president of global network capabilities, said, Bloomberg.com reports.