With Diwali around the corner, more and more banks are jumping onto the Gift Card segment.
Last week, it was the turn of American Express, to enter the Gift Card segment.
As is the norm, no update are still available on the company's website.
The only source of information is the news articles and may be the American Express outlets.
A link to a news article is @
The card is launched in two variants -the Classic and the Diwali Gift card and no fees would be charged for such cards.
Obviously the card will be accepted by merchants who currently welcome American Express Cards, including online merchants here.
The gift card can be used any number of times, till the funds are depleted. This means, no additional balance can be loaded on it.
The American Express Gift Card is only in fixed denominations of Rs 500, Rs 1000, Rs 2000 and Rs 5000 denominations. The Gift Card is replaceable for free if lost or stolen.