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 | Thursday, April 27, 2000, updated at 16:09(GMT+8) | ||||||||||||
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American Express Launches Business Card for SMEs in HKAmerican Express announced on Wednesday that it will launch a credit card especially designed to help small and medium enterprises (SMEs) improve profitability and efficiency."SMEs are a major business sector accounting for 98 percent of total establishments in Hong Kong and 60 percent of the work force. They have been a major contributing force to Hong Kong's economic development," said John Steward, American Express' vice president and general manager for Hong Kong. "With growing everyday business expenses and expected increased engagement in Internet and China business travel activities, it is more important than ever for SMEs to exercise better cost control and management of their expenses. The American Express Business Card is dedicated to serving these needs," he said at the launch ceremony. The Business Card, a charge card without pre-set spending limit, is customized for owners and executives of SMEs with 100 or fewer employees. The card offers a unique "Business Savings Program" that can enhance SMEs' competitiveness by helping them reduce costs in three areas -- day-to-day business expenses, e-commerce and business travel to China. Steward expressed optimism about the market potential of its Business Card and said cardmembers can save manpower and administrative time in dealing with their suppliers. American Express is a diversified worldwide travel, financial services and network services company. Founded in 1850, it is a leader in charge and credit cards, Traveler Cheques, travel, financial planning, investment products, insurance and international banking.
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