In a market-first, American Express and Cathay Pacific announced today the launch of a new co-branded corporate card that offers greater rewards and savings for mid- to large- sized companies in Hong Kong.
The American Express Cathay Pacific Corporate Card will exclusively offer companies Asia Miles on Cathay Pacific and Dragonair flights charged to the Card. For the first time, this innovative corporate card programme rewards both companies and their employees. Companies will earn 1 Asia Mile for every HK$12 on Cathay Pacific and Dragonair flights paid on the American Express Cathay Pacific Corporate Card. At the same time, employees will also be rewarded with 1 Asia Mile for every HK$12 of all corporate card spend.
Companies will also have the flexibility to redeem Asia Miles for flight awards or an extensive array of over 600 lifestyle awards giving them the benefit to stretch their travel budget further and to support other business needs.
Cathay Pacific Loyalty Programmes General Manager Paul Loo said, "Cathay Pacific is proud to bring our partnership with American Express to new heights. Together we offer the most convenient and hassle-free way for companies to administer their air travel through the introduction of the American Express Cathay Pacific Corporate Card.
"The co-branded corporate card relationship with American Express is a natural progression of our strong partnership, following our successful launch of the American Express Cathay Pacific Credit Card in 2008," Mr Loo said.
American Express Senior Vice President Global Commercial Card, Lisa Vehrenkamp said "According to the 2010 American Express/CFO Research Global Business & Spending Monitor, 70% of the finance executives from Hong Kong plan to maintain or increase business travel spending this year. With the launch of this programme, companies with an annual turnover of more than HK$10 million, whose employees engage in business travel, will see a benefit to their bottom line. And importantly there are no changes to the way companies book their travel to receive these benefits."
"No other corporate card programme in Hong Kong offers both company and individual Cardmember rewards in the form of Asia Miles, combined with the convenience of streamlining the way companies manage their business expenses. The American Express Cathay Pacific Corporate Card is specifically designed to save time and money allowing company owners and directors more time to focus on their core business," said Ms. Vehrenkamp.
Corporate travel is a key element of Cathay Pacific’s business and Paul Loo said the airline works hard to ensure it meets the needs of the corporate market. "Hong Kong is one of the region’s most important centres for finance and business and it is vital that we provide a strong network, good connectivity and ease of doing business for corporate travellers – something we are able to do through our superb Hong Kong hub," he said. "The launch of the American Express Cathay Pacific Corporate Card programme will be a further boost for corporate travellers and a value-added asset for Hong Kong companies."
The American Express Cathay Pacific Corporate Card carries many distinguishing features that sets it apart from other payment options including:
Benefits for Companies
- 1 Asia Mile for every HK$12 on Cathay Pacific and Dragonair flights charged to the Card;
- 15,000 Bonus Asia Miles when 3 Cardmembers join the programme;
- 1,000 Bonus Asia Miles for every Cathay Pacific and Dragonair purchase over HK$20,000;
- The choice of Elite and Classic co-branded corporate cards to recognize employee seniority within the company;
- Liability options to protect the company and employees;
- Extended cash flow of up to 51 credit-free days;
- Comprehensive online reporting giving complete visibility and control of all business expenses.
Benefits for Cardmembers
- Enrolled Corporate and Elite Cardmembers personally earn 1 Asia Mile for every HK$12 on all business expenses and Elite Corporate Cardmembers earn a superior rate of 1 Asia Mile for every HK$10 on overseas business expenses charged to the Card;
- Up to 3,000 Bonus Asia Miles when Cardmembers use their Card 3 times;
- Up to HK$2 million complimentary business travel accident insurance cover amongst others;
- Access to American Express Selects Programme with discounts of up to 20% or more on dining and other partners;
- 24/7 emergency card replacement.
The American Express Cathay Pacific Corporate Card is available now.
About American Express Global Commercial Card
Through its Global Commercial Card group, American Express provides the Corporate Card, Business Travel Account, Corporate Purchasing Solutions and other expense management services to mid-sized companies and large corporations worldwide. In the U.S., it is the leading issuer of commercial cards, serving more than 70% of the Fortune 500, as well as tens of thousands of mid-sized companies. American Express issues local-currency commercial cards in more than 40 countries, and International Dollar Corporate Cards in an additional 100+ countries. For more information, visit www.americanexpress.com/corporate.
About Cathay Pacific
Cathay Pacific Airways is a Hong Kong-based airline offering scheduled passenger and cargo services to some 120 destinations in Asia, North America, Australia, Europe and Africa, using a fleet of 129 wide-body aircraft. The company is a member of the Swire group and is a public company listed on the Hong Kong Stock Exchange. Dragonair is a wholly owned subsidiary. Cathay Pacific also has a 60% stake in AHK Air Hong Kong Ltd, an all-cargo carrier operating regional express freight services. Cathay Pacific has made substantial investments to develop Hong Kong as one of the world's leading global transportation hubs. The airline is a founder member of the oneworld global alliance.