American Express offers the ideal gift to Indian consumers

Company Brief

New Delhi, June 13, 2012

Gifting is evolving in India and American Express is at the forefront in developing this category. The leading global services company has partnered with Gift Cards India to offer consumers convenience to purchase American Express Gift Cards online by logging on to giftcardsindia.in – the largest online seller of gift certificates.

Indians still rely primarily on paper certificates, most of which are bought by companies, not individuals. And only two percent of urbanites use preloaded cards of any type. But experts say conditions are ripe for explosive growth. The American Express Gift Card has no fees after purchase, unlike some other gift cards already available in the market. There are no fees for checking a balance, no fees for monthly servicing, and no fees for card replacement. It is available in Rs. 500, Rs. 1000, Rs. 2000 and Rs. 5000 denominations and is a smart alternative to cash, offering convenience, valuable services and benefits.

The American Express Gift Card can be redeemed at any location in India that accepts the American Express® Card – ensuring that recipients can get just what they want, from where they want it – the gift of choice. The Gift Card fits easily in a wallet, just like American Express Credit and Charge Cards. American Express is the only bank issuer in India offering customers the ability to purchase gift cards online through giftcardsindia.in. The American Express Gift Card recipient will have access to year round offers from all merchants participating in the American Express “Selects Program” that offers attractive merchant discounts.

Gifting is an integral part of Indian culture. Since childhood we have seen every occasion being celebrated by giving cash in decorative envelopes, be it the birth of a child, a new house, weddings etc. Whether it’s Father’s Day or Valentines, your best friend’s birthday or your boss’s farewell, there will always be an occasion, where you will be standing in a store not knowing what to buy. Gift Card has not only made this choice easier but it also helps in reciprocating the feeling of mutual gratification.

The American Express Gift Card in India, provides millions of consumers and Corporations with the perfect gift for many occasions. With the American Express Gift Card, recipients get a gift card that’s 100% gift, 0% fees.

"The prepaid Gift market is estimated to be over $450 million. With the launch of the American Express Gift Card in India, we have set a new standard in the gifting segment,” Mr. James Mirfin, Vice President and General Manager, Global Payment Options, American Express India, said. "Corporations and individuals in India can now give recipients the gift of choice with the American Express Gift Card. Unlike store gift cards and vouchers, American Express Gift Cards can be used for purchases at any retailer in India who welcomes the American Express Card. Moreover, one card can be used a number of times, at different retailers, until the funds are depleted.”

While merchandise is popular, non-traditional options such as Gift Vouchers and Cards are acquiring scale. In a recently conducted research on corporates’ purchase of Gifts, almost all corporates were found to purchase both merchandise and Gift Vouchers (spend ratio being 90:10). Only 15% of the corporates were found to be using Gift Cards so there is a large opportunity for us to grow our Gift Card franchise in this market. There is a clear desire from corporations to offer their employees gifts which give them choice, like the American Express Gift Card.

Now you no longer need to worry about what to gift your special ones. So get a Gift Card and make every occasion special.

For further information, please contact:

Perfect Relations

Anchal Ghosh

Mobile: +919971777207

Email: anchal@perfectrelations.com