American Express (NYSE:AXP) said on Monday that its cards are now accepted at more than 190 million merchant locations worldwide, with acceptance outside the US more than doubling over the past four years.
The company has expanded its international merchant network, including in travel destinations such as Barcelona, Hong Kong, Paris and Sicily.
American Express has also focused on locations expected to attract spending around major events.
American Express Expands International Acceptance
“We also think about locations that will be popular for big events, so say, sporting events, and that’s driven us to focus on places like Mexico City and Melbourne,” Anna Marrs, group president of global merchant and network services at American Express, told Reuters.
Marrs said the company has also targeted categories including restaurants as part of its efforts to increase the number of locations where card members can make purchases.
American Express has historically had a smaller merchant acceptance network outside the US than Visa and Mastercard, according to the source material.
The company said it continues to work with global payment platforms, payment facilitators, licensed partners and local acquirers to expand its acceptance network.
Billed Business Rises 9%
In its most recent quarter, American Express reported billed business of $455.8 billion, an increase of 9%. Billed business measures spending on cards issued by the company.
American Express also reported a 10% increase in quarterly revenue to $19.6 billion in July.
The company is seeking to increase its share of international spending, including among younger customers.
“We continue to see opportunities all over the world,” Marrs said. “We’re not yet resting in terms of the coverage gains that we want to drive.”
American Express stock price
