Creditkeeda
American Express India is shaking up its rewards strategy. Starting 1 February 2026, the bank will move its e-voucher Reward Multiplier platform from long-time partner Gyftr to a new provider, ShopWise.
While the transition is being positioned as a more seamless digital experience, it has triggered speculation across the Indian credit card community. Amex has clarified that the core value proposition remains unchanged, with cardholders continuing to earn accelerated Membership Rewards® points across 200+ brands.
The Details
The Switch: Gyftr will be replaced by ShopWise on February 1st.
Multipliers Stay: Amex has confirmed that the earn rates remain the same. Users will continue to earn their usual Membership Rewards® points (such as 2X, 3X, or 5X depending on the card) across 200+ brands.
Existing Vouchers: Any vouchers you’ve already bought through the Gyftr portal will remain valid until their original expiry date.
Community Reaction: "Cautiously Excited" vs. Skeptical
The news has set X (formerly Twitter) ablaze, with seasoned cardholders and "point hackers" divided on whether this is an upgrade or a subtle shift in value.
The frustration with Gyftr’s long-standing quirks is evident. User @SartanparaYash seemed overly excited and expressed clear relief, tweeting:
"Thank god IF Amex is getting rid of the shitty Gyftr and their shitty rules."
However, not everyone is convinced that a change of partner is a win. For many, Gyftr was a “known devil” that worked predictably. @Vibhor1911 captured the community’s collective anxiety by simply asking:
"Why does this feel like bad news to me?"
Others are taking a middle ground approach, waiting to see if the brand catalog, especially high-value vouchers like Amazon Pay, Amazon Shopping Voucher, and Swiggy, survives the migration. @cards_wizard summed up the mood perfectly:
"Cautiously excited. But excited nonetheless."
The Bottom Line
For now, it’s a waiting game. The real test comes this Saturday. If ShopWise delivers a smoother interface without adding convenience fees or stripping away popular brands, Amex might have just silenced its loudest critics. But if the brand list shrinks, the "bad news" vibes might prove prophetic.