The days of buying airline miles and iPods with Amex points are OVER! It's all about Facebook now!
Yesterday, American Express and Facebook launched a program that allows Amex users to redeem points for ads on Facebook. The program's geared towards small business owners, but others can utilize it as well.
Here's what vice chairman at American Express Ed Gilligan had to say about it:
In order to score some extra income, the former Home Improvement star took a crack at the business world by investing in Hollywood sports bar Big Wangs - and he feels he got totally screwed!
Bryan is suing Big Wangs partners Peter Brill and Joe Barker because he claims they used profits from the restaurant to open other competing restaurants, AND to purchase cars, vacations, and a house in the Hollywood Hills.
Bryan also says that the two partners used an American Express card for all the purchases, and used an earned 750,000 Membership Rewards points for themselves.
Discover and Barclays Bank are teaming up with AT&T, Verizon, and T-Mobile in a "super-secret alliance," which will give their customers access to a new technology that will allow them to buy stuff off of their iPhone, BlackBerry, and other smartphones.
Consumers will be able to "wave and pay," without needing to swipe their credit card.
With Discover currently the fourth biggest credit card company, behind Visa, MasterCard, and American Express, the company is hoping to take "dead aim" at their competitors by offering the new technology.
In fact, shares for Visa and MasterCard have already dropped since the news was leaked.
According to insiders, "this is a game changer."
Watch the clip (above) and see how this new "contactless" swipe works. Pretty neat!