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Devaluation AlertAmerican Express · Editorial briefing

Amex India Discontinues the Reward Multiplier Select-Brand Portal — ShopWise Continues

Amex India retires the Reward Multiplier select-brand portal on 30 September 2026; ShopWise e-voucher acceleration (up to 5X on 200+ brands) continues unchanged.

Desk:CredSutra Editorial Team
Published:19 Sept 2026
Read time:3 min read

Amex India Discontinues the Reward Multiplier Select-Brand Portal — ShopWise Continues

American Express India has published a direct notice on the official Rewards Program page (americanexpress.com/in/benefits/rewards-program.html, captured 2026-09-20) confirming a single, narrowly-scoped change effective 30 September 2026: the Reward Multiplier select-brand portal — through which cardmembers earn accelerated Membership Rewards® points on purchases with select partner brands — is being discontinued.

What the official notice says (verbatim)

“Effective 30 September’ 2026, the Reward Multiplier program, through which you earn accelerated Membership Rewards® points on purchases with select brands and through the e-voucher platform, ShopWise, will be discontinued. While accelerated Membership Rewards® points on purchases made with select brands will no longer be available, you can continue to earn accelerated Membership Rewards® points on eligible purchases through ShopWise, an independent platform offering e-vouchers from 200+ brands across shopping, dining, and travel.”

What this means for cardmembers

  • Select-brand accelerated earning is going away. The integrated 2X–5X bonus MR points previously available through the Reward Multiplier portal on Apple, Tanishq, MakeMyTrip, Nykaa, Myntra, Ajio, Lenovo, and similar partner merchants ceases after 30 September 2026.
  • ShopWise e-voucher acceleration continues unchanged. Up to 5X MR on 200+ brands remains available through ShopWise — the Reward Multiplier page still advertises ShopWise as an active 5X earn channel as of 2026-09-20. Cardmembers can route purchases through ShopWise e-vouchers before checkout to capture equivalent reward value on the same merchants.
  • MR transfer ratios, base earn rates, and ShopWise e-voucher mechanics are not affected. This change applies only to the select-brand integrated portal.

What is unchanged (verified 2026-09-20)

  • MRCC annual fee waiver structure — still 100% at Rs.1,50,000+ annual spend, still 50% at Rs.90,000–Rs.1,49,999 per the live MRCC card page.
  • Membership Rewards transfer ratios — unchanged from the February 2026 2:1 airline cut; not affected by this notice.
  • Platinum Travel milestones and lounge-access gating are covered separately in the existing Amex Platinum Travel devaluation entry (March 2026) and are not part of this 30 September notice.

Action items before 30 September 2026

  1. If you have planned partner-brand purchases (Apple, Myntra, Nykaa, etc.) where Reward Multiplier bonus MR was the value driver, execute them through the portal before 30 September 2026 to lock in the bonus.
  2. Shift to ShopWise e-vouchers for ongoing accelerated earning — buy a ShopWise e-voucher from the same merchant category before checkout to access up to 5X MR.
  3. No change needed to base spend strategy, MR redemption plan, or card-renewal math.

Severity: moderate

The Reward Multiplier select-brand portal discontinues, but the up-to-5X ShopWise e-voucher path provides equivalent acceleration across the same merchant categories. Cardmembers lose integrated portal convenience; they do not lose the earn rate when they route through ShopWise.

Re-verification policy

If Amex India later publishes a direct dated notice for either the 11 October 2026 fee-waiver-removal or a card-specific MR account un-pooling, a follow-up alert will be issued. Until then, those unsubstantiated claims stay out of the approved tracker.

Sources

Frequently Asked Questions

When does the Reward Multiplier select-brand portal stop?
Effective 30 September 2026 the Reward Multiplier select-brand portal ceases accelerated Membership Rewards earning on partner-brand purchases (Apple, Tanishq, MakeMyTrip, Nykaa, Myntra, Ajio, Lenovo, and others). Per the official Amex India Rewards Program notice, the program 'through which you earn accelerated Membership Rewards® points on purchases with select brands' is being discontinued.
Does ShopWise e-voucher acceleration still work?
Yes. Per the same official notice: 'you can continue to earn accelerated Membership Rewards® points on eligible purchases through ShopWise, an independent platform offering e-vouchers from 200+ brands across shopping, dining, and travel.' ShopWise up-to-5X acceleration is unaffected by the 30 September change and remains an active 5X earn channel on the official Rewards Program page.
Are my existing Membership Rewards points affected?
No. The 30 September change applies only to select-brand accelerated earning on the Reward Multiplier portal. Existing MR point balances, transfer ratios, and the ShopWise e-voucher channel continue to operate normally.
Does this change affect the MRCC annual fee waiver structure?
No change verified. The official MRCC card page (captured 2026-09-20) still lists the 100% waiver at Rs.1,50,000+ and the 50% waiver at Rs.90,000–Rs.1,49,999. Any future change to the fee waiver structure would require a direct dated notice from Amex India; none is published as of capture.

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