American Express sees higher transactions
American Express, a card issuer by purchase volume and an integrated payments platform, has witnessed high spending volume in key destination cities in India over the last two years.
The company has continued to expand its merchant coverage in Goa to enhance on-ground experience for domestic and international (inbound) card members, ahead of the December holiday season.
Speaking on the trend, Anurag Gupta, vice president, Global Merchant Services – American Express, during media briefing said, “With peak travel season coming up, merchants are geared up to deliver a great experience to visitors to the state. American Express base of premium card members spend three times higher than non-card members. Our data shows that card member spending in key destination cities in India, doubles in Q4 compared to the previous quarter. It is our endeavour to meet the lifestyle needs of our customers, and ensure warm acceptance of the card wherever they go. We are therefore exploring new partnerships focusing on categories that travellers spend in – such as restaurants, retail outlets, lodging and fuel stations.”
Elaborating on the advantages of partnering with American Express, Anurag added, “Besides gaining from larger transactions with American Express’ base of premium card members, merchants partnering with American Express enjoy many benefits including free fire and theft insurance, priority servicing, standardized product-agnostic fee structure, and other value added services. They receive continued access to, and engage with our high-spending card member base through cross-promotion of offers.”