Scotiabank, American Express partner on Jamaica’s first AmEx card
Published:Wednesday | August 2, 2023 | 12:08 AM
Scotiabank is going after more business in the middle to upper income band through a partnership struck with American Express to issue Jamaica’s first metal AmEx Platinum card.
The co-branded card comes with a range of specially curated benefits and services, but as a sweetener to potential subscribers, Scotiabank wants to link the dual-currency card to its own rewards app that will offer cardholders greater benefits on US dollar travel purchases.
Additionally, it’s the only card with a rewards programme that never expires, the bank said.
“This exclusive agreement not only cements our commitment to meeting and exceeding our clients’ expectations but re-enforces Scotiabank’s global positioning as a strong international force in the financial sector,” President and CEO of Scotia Group Jamaica, Audrey Tugwell Henry, said at the card’s launch on Sunday.
The proprietary app is being developed, but on completion, will allow cardholders to redeem points on flights, hotel stays and car rental bookings.
Scotiabank has not stated the expected date for the launch of the rewards platform, only that the app will be launched “very soon”. The investment in the two products was not undisclosed.
The launch of the metal platinum card comes two years after Scotiabank Turks and Caicos forged a partnership with American Express. Still, Scotiabank is the first licensee to issue the AmEx cards in Jamaica, where acceptance of the card is limited.
Executive Vice President of Retail and Small Business banking at Scotiabank, Perrin Gayle, said that as the bank worked to secure the exclusive partnership with American Express, it was engaging concurrently with local merchants to ensure acceptance of the card.
“In fact, we have brokered additional benefits and discounts including a dining programme in select restaurants locally,” he said. Some 10 restaurants are said to be on board.
In the hotel sector, Jamaica’s Half Moon is one of the more than 1,100 exclusive properties included worldwide in American Express’ Fine Hotels and Resorts Program.
“As we continue to hold our premium position in the market, we are committed to exploring, innovating, and reimagining the possibilities that exists. This is the first in the Jamaican market and it’s also a very significant milestone for us as we celebrate our 134-year history,” said Tugwell Henry.
The bank said that while the initial card is targeted at clients with very high credit card usage, over time it will seek to offer other tiered card for the wider population.
The AmEx card is the fifth rewards or benefits card to be offered by Scotiabank Jamaica, which is the second-largest of eight local commercial banks.
Gayle said the card offers unique benefits and is not expected to rival existing products.