American Express Kills Reward Multiplier Programme in India

American Express is set to discontinue its Reward Multiplier programme in India from September 30, 2026. This move comes as a part of American Express' efforts to dismantle its product proposition over time.

Reward Multiplier has been an important component of the American Express rewards ecosystem in India for six years. Through this programme, cardmembers could access participating merchants and earn accelerated Membership Rewards points on eligible purchases.

The earning rate under Reward Multiplier could be substantially higher than the card's regular rate. Participating merchants include Apple, Forest Essentials, Nykaa, MakeMyTrip, Tanishq, and Myntra, with up to 5X rewards on Platinum cards and up to 10X on Centurion cards.

However, American Express is not removing accelerated rewards altogether. ShopWise, its e-voucher platform, will continue to offer 5X Membership Rewards points on eligible purchases from more than 200 brands across shopping, dining, and travel.