New Delhi: American multinational financial
services corporation American Express Tuesday launched a new pre-paid gift card
The gift card is available in two variants
- 'Classic' and 'Diwali' - and entails no additional spending after purchase,
an American Express release said.
The card will be available in Rs 500, Rs
1,000, Rs 2,000 and Rs 5,000 denominations, it said, adding that it can be
replaced for free if lost or stolen.
There will be no fee for checking balance,
monthly servicing or for card replacement, the release said.
Announcing the launch, American Express
Global Payment Options President Alpesh Chokshi said, "Gifting is an
integral part of Indian culture and we are excited to launch the American
Express gift card in India, providing millions of consumers and corporations
with the perfect gift for any occasion."
With the launch of the American Express
gift card in India, Chokshi said, "We are setting a new standard in the
gifting segment, which is estimated to be more than USD 30 billion."