American Express Rallies for Small Businesses: Spend $10 and Get $5 Back

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American Express  (AXP) - Get Report is giving $5 back to its cardholders if they spend $10 or more

On June 29, the company announced its commitment of more than $200 million to  "help get customers shopping small." Customers can receive the cash back credit as many as 10 times.

“American Express has backed small business owners through challenging times for decades, and we are standing for them today as many struggle to recover from the effects of the COVID-19 pandemic,” said American Express Chairman Stephen J. Squeri. “Small businesses are the lifeblood of our communities, and now is the time to join together and help them rebound from this global crisis, because their success is critical to job creation, strong economies and thriving neighborhoods." 

American Express also pointed to research which says that 62% of U.S. small businesses "need to see consumer spending return to pre-COVID levels by the end of 2020 in order to stay in business."

The company said that the offer is valid from June 29 through September 20, 2020 and interested cardholders have to enroll by July 26, 2020 at ShopSmall.com.

"American Express has also made it easier for consumers to locate U.S. small merchants that are open for online or in-store purchases through an updated Shop Small Map...," its statement read.

The company said that it is planning to roll out this offer globally in countries including Australia, Canada, the U.K., France, Germany, Italy, Japan, Mexico, Spain and more.

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