American Express acquires Tock to expand its dining industry presence, following the 2019 Resy acquisition, focusing on offering exclusive perks to cardholders for restaurants. The deal aims to boost customer engagement and target premium spenders.
The acquisition adds 7,000 businesses to AmEx's network to cater better to their affluent consumers. AmEx prioritizes offering unique experiences and incentives to justify premium annual fees, viewing them as crucial for growth and customer acquisition.
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