Reports in The Business Times on Thursday (Aug. 1) said American Express and SIA have collaborated on the American Express Singapore Airlines Business Credit Cards designed to connect small- and medium-sized businesses with travel rewards. The card also offers complimentary travel insurance, access to airport lounges and other benefits for SMB travelers on SIA, including the ability to earn HighFlyer points for SIA business travel.
Payers can also earn SIA’s KrisFlyer miles for personal use, the firms noted.
“Singapore Airlines’ HighFlyer program was launched two years ago to reward and support SMEs, including their endeavors to expand overseas,” said SIA Senior Vice President of Sales and Marketing Campbell Wilson in a statement. “This new product enables SMEs to maximize their HighFlyer privileges by earning more rewards faster, which can be redeemed for a range of benefits that improve their bottom line even as employees themselves continue to earn KrisFlyer miles for their own personal benefit.”
In announcing their co-branded small business credit card, American Express and SIA also released the results of research they conducted in June, which surveyed 200 small businesses. Of those companies, 70 percent said they have employees that travel for work at least two times a month.
Nearly three-quarters of surveyed SMBs also reported that they expect to grow their business in the coming year, though cited cash flow management and increased competition as key challenges to cross-border expansion.
“SMEs have different needs and they don’t always get the same level of support as larger companies,” said American Express Vice President and General Manager of Global Commercial Payments for Singapore Celine Chua, in another statement. “Our survey reaffirms this as 59 percent of SMEs said partnering [with] established companies for guidance and support would have made their expansion overseas easier.”