Amex and Santander launch Mexico rewards card
Card offers insurance and interest free instalment payments
Santander and American Express have partnered to launch a new rewards card in Mexico.
The Santander American Express Credit Card focuses on rewarding cardholders for their daily spending in department stores and supermarkets through Santander’s preferred points redemption programme (Recompensas Santander).
The card offers a points multiplier for interest-free instalment payments during the first six months and also includes an insurance platform providing services, such as Travel Assistance, Travel Accident Insurance, Car Rental Insurance, Purchase Protection Insurance and Extended Warranty Insurance.
“We are opening a new segment where clients are looking for a mix of the best services from both companies,” said Jorge Alfaro Lara, associate general director for consumer credit and payment tools at Santander Mexico.
The Santander Rewards programme will offer the following points earning scheme for the new card:
• 3 points per each US dollar spent in department stores in Mexico
• 2 points for each US dollar spent in supermarkets in Mexico
• 1 point per each US dollar spent in any merchant establishment in Mexico, except department stores and supermarkets
• 1 point per each US dollar spent on purchases made abroad, regardless of the type of merchant establishment
• Triple points on purchases made on interest-free instalment payments during the first six months of using the card.
Santander will be responsible for owning the customer relationships, marketing and promoting the cards and managing credit authorisations and billing. The cards will be accepted and processed through American Express’ global merchant network.