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October 18, 2012

American Express Releases Third Quarter 2012 Financial Results

Amex logo 140pxAmerican Express has reported financial results for the third quarter 2012, including net income of $1.3 billion, up 1% from a year ago.

“We generated solid results this quarter against the backdrop of a very uneven global economy,” said Kenneth I. Chenault, chairman and chief executive officer. “Cardmember spending rose 8% in the U.S. from a year ago and 6% globally (8% fx-adjusted). That’s a healthy pace in the current environment and an improvement from earlier in the quarter. Nonetheless, it represents slower growth than we were generating earlier in the year, a trend that we’re seeing among major card issuers."

Placecast Launches ‘Card-Linked ShopAlerts’

Placecast logo 140x60px Placecast announced the launch of ‘Card-Linked ShopAlerts’, which are mobile offers tied to nearby store locations using geofencing technology that consumers redeem by simply swiping their linked credit or debit card at the store.

“Location-based card-linked offers are the holy-grail of mobile marketing,” says payments industry expert Dickson Chu who has led initiatives at Citibank, PayPal and Living Social. “Placecast is enabling the delivery of an offer to a consumer who is near a store and highly likely to make a purchase. Retailers and brands get closed-loop performance marketing where they can measure the ROI of their mobile campaign where it counts – in the real world.”

Placecast launched Card-Linked ShopAlerts in beta with card issuers this spring. To date, over 550 merchants have delivered card-linked offers using the platform with restaurants emerging as the top-performing category.

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