American Express OPEN and Lowe’s Companies, have entered into an agreement to issue a co-branded rewards card that will allow small business owners to earn points on virtually all purchases and generate valuable rewards.
The agreement brings together American Express OPEN, the issuer of payment card products for business owners, and Lowe’s, the home improvement retailer, to offer an array of benefits and services that will provide value for business owners. Lowe’s has been a card-accepting merchant of American Express since 1982. The new card is likely to be launched in the first quarter of 2010.
Larry Stone, president and COO of Lowe’s Companies, said: “Commercial customers have been an integral part of Lowe’s history, and they are essential to our future growth. Our agreement with American Express will offer an innovative, new financing option to our commercial customers that will provide them with benefits and rewards for their purchases and additional value for their loyalty to both of our brands.”
Susan Sobbott, president of American Express OPEN, said: “With more than twenty years experience in serving business owners, American Express OPEN knows that our business card members value choice and appreciate rewards. Lowe’s commercial business customers span many industries, including property management, business maintenance, trades, and contractors.
“Partnering with a leading retailer serving a wide array of commercial customers represents an outstanding opportunity to offer these business owners access to working capital they need to help manage their companies.”
