Friday, January 27, 2006

Amex Fights AIDS With New Red Card

Amex Fights AIDS With New Red Card
Amex Partners with Product RED to Fight AIDS


January 26, 2006

NEW YORK -- American Express announced a new partnership today with the UK's Product RED to help fund the fight against AIDS and malaria on the African continent.

As part of the program, the financing giant has launched a new product, American Express Red, a credit card that will contribute 1% of everything spent with the card toward the humanitarian group the Global Fund. (Product RED is an initiative whose primary objective is to engage the private sector in the fight against AIDS in Africa by channelling funds from the sale of RED products directly to the Global Fund To Fight AIDS, Tuberculosis and Malaria.)

“American Express is proud to be the founding partner of RED,” John Hayes, CMO of American Express, said in a statement. “It has encouraged us to think about our own products in new and innovative ways. And, it has the potential to improve the lives of women and children affected by AIDS in Africa”.

Amex says American Express RED will be the first credit card to meet the payment needs of a new and growing group of individuals it calls 'Conscience Consumers.' These are consumers who make decisions about the brands they purchase based on their social, ethical and environmental values.

Companies whose products take on the RED mark have made a commitment to contribute a portion of profits from the sale of that product to the Global Fund to finance AIDS programs in Africa. Besides Amex, current partners are Converse, Gap and Giorgio Armani.

--Staff Report

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