American Express this morning announced that customers will now be able to pay for Facebook ads using Membership Rewards points, which the company says are used by millions of American Express small business and consumer Cardmembers.
Cardmembers can redeem Membership Rewards points for Facebook Ads through AmEx OPEN’s Facebook Page or the Membership Rewards program website. Each $6,750 spent can be redeemed for $50 worth of Facebook advertising.
American Express will soon start rolling out a national marketing program to support the launch.
This isn’t the first time AmEx has partnered with a social media company. Just recently, the company expanded its relationship with Foursquare to provide local deals to people who sync their cards to their Foursquare accounts.
Facebook is the world’s largest social network, with over 1 billion monthly active users. Facebook was founded by Mark Zuckerberg in February 2004, initially as an exclusive network for Harvard students. It was a huge hit: in 2 weeks, half of the schools in the Boston area began demanding a Facebook network. Zuckerberg immediately recruited his friends Dustin Moskovitz, Chris Hughes, and Eduardo Saverin to help build Facebook, and within four months, Facebook added 30 more college networks. The original...