New Amex card offers volume discounts for mid-sized firms
Mid-sized companies can now save up to 40 per cent of their travel and entertainment expenses with a new corporate card launched especially for them by American Express.
According to American Express estimates, mid-sized firms in India collectively incur travel and entertainment costs of $2.7 billion every year. The card can bring about savings of $1.08 billion a year.
The savings, American Express executives say, take place in two ways: one, American Express has tie-ups with 20 service firms (airlines, hotels, car rental agencies, insurance companies) offering discounts to card-users; and two, it will give corporates details like frequently used airlines or hotels which can help them negotiate rates on their own.
