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American Express and Singapore Airlines have announced the extension of their partnership to support small and medium-sized enterprises (SMEs) in Singapore today, in light of survey results saying, despite overall optimism, business owners have significant worries over cash flow and travelling abroad.
The new ‘American Express Singapore Airlines Business Credit Card’ has factored in these challenges to help SMEs better manage cash flow and turn business expenses into benefits. For example, SMEs will get up to 8.5 HighFlyer points for every SGD1 spent — worth up to 8.5% in savings — and 0% interest on instalments over six months on Singapore Airlines flights.
- Travel with peace of mind with complimentary travel insurance when travel tickets are purchased with the American Express Singapore Airlines Business Credit Card.
- Accelerate to KrisFlyer Elite Gold status with spending of SGD15,000 or more on eligible spend with the Singapore Airlines Group in the first year of Card Membership.
- Enjoy two complimentary visits to 1,200 airport lounges worldwide with Priority Pass.
- Rest easy with a complimentaryAccor Plus membership, which includes a complimentary night stay every year, up to 50% off dining across 1,100 restaurants in Asia Pacific, and more.
- Take to the road with Hertz Gold Status, which gives members 10% off best available retail rates, one car class upgrade for rentals, and more.
Competition and cash flow
According to the ‘SMEs Go Places Survey’, by American Express and Singapore Airlines, three quarters of SME’s (74%) expecting to grow their businesses in the next 12 months. That said, more than half of the respondents say that increasing competition and cash flow management keep them up at night, and one in three feels challenged taking their business overseas.
“Our survey shows that Singapore SMEs are optimistic about growth, but cash flow and overseas expansion are ever-present concerns,” said Geoff Begg, senior vice president, of global commercial services for Asia Pacific at American Express. “American Express and Singapore Airlines are bringing the first SME business travel card to give them access to credit terms, more savings, and a suite of travel benefits — to support their ambitions and help them overcome these challenges.”
“More rewards faster”
“Singapore Airlines’ HighFlyer Programme was launched two years ago to reward and support SMEs, including in their endeavours to expand overseas,” said Campbell Wilson, senior vice president of sales and marketing aT Singapore Airlines. “We are excited to now partner American Express to take the programme further with the new American Express Singapore Airlines Business Credit Card.
This new product enables SMEs to maximise 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.”