India has removed its ban on American Express onboarding new card customers.
In Brief:
The Reserve Bank of India had previously banned AmEx in 2018 from onboarding new customers due to concerns over data.
It's now assessed that the firm complies with the right data storage rules.
The rules demand that payment providers store full end-to-end transaction details within India.
What does this mean?
AmEx’s interim India CEO and COO describes India as a “key strategic market” for the business, and it now joins Mastercard in companies that can issue new cards again.
