This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

How an American Express and Twitter Partnership Adds to Banker Stress

NEW YORK ( TheStreet) -- Bank executives' heads are on a swivel as they face technologies that threaten to eat into market share.

PayPal has made inroads into the consumer payments market. Google (GOOG) and Apple (AAPL) have popped mobile wallets into their smartphones. And Wal-Mart (WMT) has taken incremental steps into the banking business with a prepaid banking card called Bluebird available in more than 4,000 of its U.S. stores.

Now American Express (AXP - Get Report) has targeted banks from a perhaps-unexpected front: social media.

Last week, Amex announced a program that enables Twitter users to tweet #hashtags to buy products and gift cards.

In this outgrowth of Amex's Sync program -- which has delivered special offers and mobile coupons to customers via Twitter since March -- all Amex customers have to do is sync their credit card with Sync and tweet special #hashtags to start buying products and gift cards from eligible companies. Brand names such as Sony (SNE), Amazon (AMZN), Microsoft's Xbox 360 and Urban Zen have signed up to participate.

"Based on the initial success of Amex Sync for offers, we know there is significant power in combining our assets with Twitter's platform," says Leslie Berland, a senior vice president at American Express. "Now we're leveraging our unique technology and closed-loop network to introduce a seamless solution that redefines what's possible in the world of social commerce."

Any products bought via Twitter will be shipped free to customers within two days, American Express says. You can check out the full menu of options here.

There's no way of knowing the demand for buying gift cards and products through Twitter. But with more than 500 million existing "tweeters" and 150,000 users signing up every day, banks can hardly ignore the tsunami heading their way.

Even it if it is a tsunami of 140 words or less.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AXP $74.20 -3.30%
AAPL $108.48 -3.80%
FB $87.18 -2.50%
GOOG $600.03 -2.90%
TSLA $240.62 -3.40%

Markets

Chart of I:DJI
DOW 16,087.51 -440.52 -2.67%
S&P 500 1,922.69 -49.49 -2.51%
NASDAQ 4,662.2660 -114.2420 -2.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs