Acknowledging the increasing potential in tier-2 and tier-3 cities, credit card companies such as American Express are strategically expanding their footprint by partnering with key banks including Axis, ICICI, Kotak, SBI and Yes Bank, and other leading fintech partners.

This is enabling merchants in previously underserved regions to accept credit card payments, thereby furthering financial inclusion and economic growth. With India’s tier-2 and tier-3 cities currently undergoing widespread expansion and digitalization, these credit card companies are propelling a financial revolution which is all set to overhaul the domestic payments landscape.

“American Express has a rich legacy of supporting small merchants globally, exemplified by initiatives like Shop Small. In India, the `Offers Next Door’ campaign stands as a testament to our commitment, aiding local businesses in Delhi, Mumbai, and Bengaluru to thrive amidst evolving market dynamics,” said  Anurag Gupta, Vice President & Head of Global Merchant & Network Services, American Express.

Additionally, the ongoing digital surge has prompted credit card companies to enhance their online presence as collaborations with aggregators and processors facilitate an increased online footprint, ensuring that small merchants, even in remote areas, can tap into the vast e-commerce landscape.

“In 2022, our Global Merchant Services Unit in India achieved remarkable milestones, adding over a million new merchant locations. Over 90% of the top 400 online merchants warmly accept our cards. Beyond card acceptance, our merchant partnerships offer best-in-class offers, marketing opportunities, and strategic tie-ups for growth. The success of our premium Card members highlights their purchasing power and the value of American Express Premium Cards....”, added Gupta.