In India corporate card market is expanding rapidly by 25% a year. American Express Corporate card, has a base of almost 5,500 Companies in India, and is growing at around 50% for the last couple of years.
American Express, one of the world’s leading corporate card issuers, has planned to make its mark both in big corporate and small & medium enterprise (SME) segments. .
Currently, big corporates or the large market (LM) account is driving bulk of Amex’s revenues in India.
“LM has been growing by almost 40% and seems to be the biggest revenue driver for next few years,” said Prashant Agarwal, head of consulting at American Express for Japan and the Asia Pacific region.
Agarwal said, “We expect the industry to grow by at least 25% over the next few years”.
American Express conducted a survey according to which, about 83% of the LM segment has some form of corporate cards.
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