It has been some time since SBI, the primary shareholder of SBI Card, partnered with American Express in India to allow acceptance of Amex cards on SBI terminals where merchants opt in. That initial step has now expanded: SBI Card will issue certain credit cards on the American Express network in addition to the existing Visa, Mastercard and RuPay options. Below is a clear summary of what this tie-up means and what to expect next.
Why this matters
Today, American Express bank-issued cards in India are mainly available through ICICI Bank and IndusInd Bank. When banks issue cards on the Amex network, the reward rates and platform benefits often look more attractive compared with the same product on Visa or Mastercard. That makes Amex variants appealing to customers seeking higher rewards.
The trade-off has traditionally been acceptance: some merchants still do not accept Amex, so choosing an Amex-issued card can mean more limited usage in certain situations. However, many Amex merchant offers and benefits that apply to proprietary Amex cards are also extended to bank-issued Amex cards, including select premium offers and complimentary memberships that enhance the card’s value.
Which SBI cards will be on the Amex network?
SBI Card has indicated it will initially issue only premium and super-premium cards on the American Express network. That suggests popular products such as SBI Prime and SBI Elite may soon be available as Amex variants. The bank has not yet confirmed whether accelerated rewards or changes to earning structures will apply on these Amex versions; more details are likely to follow.
What to expect going forward
A likely outcome of this partnership is the arrival of a true super-premium card from SBI Card on the Amex network. Amex currently supports super-premium offerings from ICICI and IndusInd—ICICI’s Emerald Amex is generally well regarded, while IndusInd’s Celesta Amex has received mixed feedback. SBI Card could launch a competitive super-premium product that aims to match or exceed existing benefits, possibly taking inspiration from higher-end Amex offerings.
Beyond the card features themselves, it would be beneficial for SBI Card and other issuing banks to set up Amex-trained support teams to handle inquiries and service for Amex cardholders, particularly for super-premium customers who expect premium service and assistance.
Bottom line
SBI Card’s move to issue select cards on the American Express network fills an obvious gap in its product lineup and explains, at least in part, why a super-premium offering was delayed. The partnership is strategically sound for both parties:
- American Express gains broader reach across India through SBI Card’s distribution and merchant relationships.
- SBICard can offer enhanced rewards and premium benefits to affluent customers while potentially increasing merchant-related revenues.
If executed well, the collaboration could give SBI Card a more diversified portfolio that serves both mass-market and premium clients. The market will watch how features, acceptance and customer service evolve for SBI-Amex products.
What are your thoughts on the SBI–Amex tie-up? Share your views in the comments.