SBI enters into alliance with AmEx

SBI and AmEx alliance will significantly expand American Express card acceptance among merchants in India. Image Source: Reuters

India's largest lender, State Bank of India (SBI) and American Express have entered into alliance to expand AmEx card acceptance in India.

"State Bank of India, the largest bank as well as largest merchant acquiring bank in the country, and American Express ...Today announced a partnership to significantly expand American Express card acceptance among merchants in India, both in offline (Card Present) and online (Card not Present) space," SBI said in a statement.

The partnership will enable SBI to provide acceptance of all major cards including AmEx by its merchants and American Express to deliver more value to its card members with enhanced acceptance across categories, it added.

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State Bank of India (SBI)AmEx American Express Banking & Financial Services