American Express Makes Major Purchase To Enhance Dining Perks WSOC TV [Video]

Did you sign up for an American Express credit card because of its menu of cardholder benefits? Those perks may soon get even better thanks to a major acquisition.

The popular credit card issuer just announced that it will acquire Tock from Squarespace in a $400 million deal.

Tock, which first launched in 2014, provides reservation, table management and event ticketing tools to approximately 7,000 restaurants, wineries, and other bookable venues.

This acquisition will add to American Express’ dining benefit portfolio, which already includes Resy. Acquired by AmEx in 2019, Resy allows users to book reservations at more than 16,000 restaurants worldwide.

You may see the purchase price on this deal and scratch your head wondering why a bank known for its credit cards is investing so heavily in dining platforms.

This is because dining is one of the top spending categories for American Express cardholders.

And, as such, the card issuer sees the Tock acquisition as another step in …