How Amex is using Resy's platform to tailor offerings to customers

Fresh off the acquisition of restaurant reservation service Resy, American Express is using the platform to build customer loyalty and potentially offer customers more products. American Express is using the Resy platform to dish out membership rewards points and give Amex customers the ability to reserve exclusive restaurant events early, reminiscent of OpenTable. Based on its data on customers' dining habits, Amex can use Resy to lock in customers through tailored experiences. The company hopes the perks will create more Amex customers and drive more card transactions. "We can create more emotional connections with our customers that will deepen overall loyalty, driving more spend and engagement for our franchise," said Chris Cracchiolo, senior vice president of global loyalty and benefits at American Express. "It's about becoming more essential to our customers' everyday lives, and we do that by embedding ourselves in the things they're most passionate about." Starting Thursday, Amex cardholders who make reservations through Resy will get 500 reward points if they have an Amex card on file in the Resy app. Customers don't need to pay for their actual meal with their Amex card, but the hope is the rewards will create more Amex customers. In turn, customers can redeem points on flights, hotels and gift cards. The promotional offer lasts through September. [caption id="attachment_182765" align="alignright" width="400"] Resy reservation booking interface[/caption] Cracchiolo said the Resy app will remain a standalone app available to Amex and non-Amex users alike. While the two apps aren't integrated, rewards points earned through Resy will automatically transfer to the Amex system, an indication of how the company will pair up Resy with its card offerings. The payments company has other integration plans down the road, but Cracchiolo didn't offer specifics. The Resy perks are one aspect of Amex’s bigger plan to build customer loyalty through acquisitions designed to make customers feel exclusive. In March, the company acquired the airport lounge booking platform LoungeBuddy and, in January, the company acquired the Japanese restaurant booking company Pocket Concierge. Last year, the company acquired the travel assistance app Mezi. See also: Notable Fintech M&A: American Express Acquires Restaurant-Booking App Pocket Concierge Resy, which was founded in 2014, started as a means for customers to reserve a table at popular restaurants with no openings. The platform has evolved over the years to become a more traditional restaurant booking service; the company also sells software solutions to restaurants. Prior to the Amex acquisition, Resy raised a total of $45 million in funding. Ted Rossman, industry analyst at CreditCards.com, said Resy has a loyal customer base that makes it an appealing acquisition and foundation to grow customer numbers and enhance relationships with existing customers. "[Resy] is not necessarily a reason in and of itself to get a particular card, but [it's] part of a broader rewards package that appeals to the kinds of affluent people who dine out frequently," he added.

How Amex is using Resy’s platform to tailor offerings to customers

Challenger banks raise $649m in Q2 as investor confidence grows

European fintechs escape troubles afflicting established banks

Related Posts

AI agents need machine-speed money; enter stablecoins

6 banks co-author principles for creating unified agentic commerce infrastructure

PayNearMe acquires Marr Labs, plans AI across payment process

European fintechs escape troubles afflicting established banks

EMERGING FINTECH DIRECTORY

FinAi Podcast

SPONSORED

Build an Antifragile Strategy to Outperform the Market

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

Is Your Technology Supplier There for You?

Connect

Welcome Back!

Retrieve your password

Continue Reading with FinAi News Premium - Less than $2/Day

How Amex is using Resy’s platform to tailor offerings to customers

Challenger banks raise $649m in Q2 as investor confidence grows

European fintechs escape troubles afflicting established banks

Related Posts

FinAi Podcast

Connect

Welcome Back!

Retrieve your password

Unlock This Article

Continue Reading with FinAi News Premium - Less than $2/Day