AmEx Debuts Groupon Competitor With "My Offers" App Feature

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The newest version of American Express’ iPhone app includes a new feature called “My Offers,” which connects consumers to discounts being offered at nearby merchants.

“The app uses a cardholder’s spending history (the “spend graph”) and location to determine the most relevant offers,” explains VentureBeat’s Rocky Agrawal. “For merchants, it offers the ability to reach new customers without discounting to existing customers. Merchants can choose to exclude consumers who have made a purchase at their business within the last year from a promotion.”

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