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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