American Express Global Travel Card launched in India

The revenue potential of prepaid cards in India is expected to touch $218 million by 2015 as per Global prepaid exchange survey; Also to launch in China soon

Travel News
Travel News

American Express has recently launched in India.“The response to the soft launch was better than expected. We thought corporate travellers would be most interested, but we have witnessed a significant number of leisure travellers and students using the American Express Global Travel Card,” said James Mirfin, vice-president and general manager, global payment options at American Express India.

The revenue potential of prepaid cards in India will touch $218 million by 2015, according to Global Prepaid Exchange. The total market size and opportunity for the forex card category is $1.5 billion, which has been growing at 34 per cent since 2004. According to Mirfin, the expected annual growth for the forex card is 20 per cent over the next 3-5 years.

To boost card usage among globe trotters, American Express will provide merchant offers and discounts of up to 20 per cent in retail, dining and lodging across countries.

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