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

Why Uber Users with American Express Cards Will Be Getting Rides

NEW YORK (TheStreet) - Uber, the popular ride-sharing service with the ever-expanding valuation, and American Express (AXP - Get Report) have teamed up to create a mobile loyalty partnership that will allow eligible charge card users to earn AmEx rewards points or use AmEx points for their Uber rides.

Seems as though everyone wants a piece of Uber, and it's not even publicly-traded. Yet.

In what the companies describe as a "first-of-its-kind tech integration" between Uber's Apple (AAPL) iOS app and American Express card members, it marks the first time that Uber riders can use loyalty reward points through an app and in real time for their on-demand transportation needs. Amex card users enrolled in its membership rewards program can choose to earn double points or use points for their Uber rides, according to a joint press release.

Once the app is downloaded, AmEx card users with an eligible card on file will be prompted to enroll their card in the program with just one tap. Card Members who opt in to the loyalty program will receive an on-screen ride summary and email receipt from Uber showing points were earned or redeemed.

"Through this new, slick and powerful integration with Uber, one of the most forward-looking, mobile-based services in the industry, we are leveraging our unique technology to add a real-time benefit where we know our Card Members want it," Leslie Berland, senior vice president of American Express' Digital Partnerships and Development, said in a release.

"Uber is at the forefront of evolving the way the world moves, and this integration with American Express - a company known for superior service and loyalty programs - helps make travel easier, more seamless and more rewarding for Uber users," said Emil Michael, senior vice president of business at Uber. "This first-of-its-kind platform is the most recent way we are delivering more value more seamlessly to our customers."

As part of the launch, Uber will also roll out a new incentive program funded by American Express called the Sixth Star Awards. The awards will recognize the highest-rated Uber driver partners for service excellence and loyalty. Each week, Uber will select one of its most highly-rated driver partners to receive the award, which includes a special prize valued at $1,000.

Uber operates in more than 60 cities across the U.S., the release says, and more than 120 cities across the world. The four-year-old company made big news on Friday when it announced via its blog that it secured $1.2 billion in financing (the financing will total $1.4 billion after a follow-on round funded by strategic investors in the near future). The company is valued at $18.2 billion, making it the most highly-valued private VC-backed company, according to CB Insights.

--Written by Laurie Kulikowski in New York.

>>Read More:

Will Consumers Buy Apple's iWatch?

Binge Watching This Weekend? Netflix Debuts 'Orange Is The New Black' Season 2

Watching the World Cup? Here's the Must-Have Gear for Soccer Fans

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AXP $77.32 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%
TSLA $206.79 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs