Entrepreneurs Can Use American Express Points Toward Facebook Ads

American Express and Facebook have teamed up to support small-business growth, allowing Amex cardholders to redeem Membership Rewards points for Facebook Ads, which can reach upwards of 750 million people around the world.

A first for rewards points, which usually promote cost-cutting services, this partnership will generate a demand for products and broaden the customer base of small 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," Ed Gillian, vice chairman at American Express, said in a statement.

According to a survey by American Express OPEN, 35 percent of entrepreneurs use Facebook to promote their business and attract new customers, which makes Facebook the most popular form of social media for business owners.

"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," David Fischer, vice president of advertising and global operations at Facebook, said in a statement.

Cardholders will be able to redeem their Facebook Ads reward points through American Express OPEN's Facebook page or the Membership Rewards website. Once logged in, the system will generate a Facebook redemption code that, once the ad is created, can be used to pay. Cardholders can begin redeeming reward points for Facebook Ads immediately.