American Express (News - Alert) is widely known for its Membership Rewards Program, which is reaped by millions of American Express consumer and small business card members. Now, the credit card and business services company is bringing its rewards program to Facebook (News - Alert) by allowing ads on the social network to be purchased with redeemed points.

Functioning as a popular social media outlet for small business owners and consumers alike, Facebook boasts a robust advertising platform that reaches upwards of 500 million people around the world. By connecting to Facebook, Membership Rewards Program members will have an additional option for building up their businesses.

“The Membership Rewards program is a unique and core asset for American Express that is becoming even more relevant for our Cardmembers in the social media space,” said Ed Gilligan, vice chairman at American Express, in a press release. “We are thrilled to partner with Facebook to bring this first-of-its kind opportunity to small business Cardmembers who can now leverage the marketing power of the world’s largest social media platform in a smart and effective way.”

Current Cardmembers can use American Express OPEN’s (News - Alert) Facebook page or the Membership Rewards program website to redeem Membership Rewards points for Facebook advertisements. This new development is just the beginning, however, as American Express plans on introducing a national marketing campaign to get the word out about this new initiative.

“With hundreds of thousands of small businesses advertising on Facebook, this latest effort by American Express effectively takes advantage of our platform by providing these business owners with a new and convenient way to pay for Facebook advertising,” said David Fischer, vice president of advertising and global operations at Facebook.

To learn how you can get started with Membership Rewards points for Facebook ads, click here.

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Tammy Wolf is a TMCnet web editor. She covers a wide range of topics, including IP communications and information technology. To read more of her articles, please visit her columnist page.

Edited by Jennifer Russell