American Express in JV talks with India Partner

by Mercator Advisory Group 0

American Express is reportedly talking with India-based Reliance Industries Limited (RIL) about a JV to offer different services such as an online payment gateway in the local market. The Indian market is considered key to the AmEx global growth strategy.

American Express is on the lookout for ‘smart ways’ to expand market into India. Having developed successful payment business in India over the last 90 years, AmEx now wishes to spread out into emerging growth regions in new and improved way.

Of several potential Indian partners identified, Reliance stands as one of the most promising ones. RIL has recently ventured into the sector of financial services in India, and has already tied-up with US major D E Shaw. Being a new entrant into this booming sector, Reliance itself is on the lookout for partners that will help propel its entry into the sector successfully. While AmEx can partner up with Reliance to offer top-notch payment gateway and related services, RIL can open up to its partner its far-reaching and diverse sales and distribution network.

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