AmEx Debuts Groupon Competitor With “My Offers” App Feature

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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