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American Express' volume dropped in Q1 thanks to the pandemic - Business Insider

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Amex's performance, as well as the overall payments industry's results, are set to be even worse in Q2 as the pandemic continues

the company was performing well in the first two months of 2020 but that the coronavirus has had a serious effect on its volumes.

of consumers are losing their jobs, limiting where they can spend and their ability to spend. So, rewards that focus on available outlets, like food delivery, and broad spending may help Amex attract as much volume as possible and limit its losses. Helping cardholders and merchants survive the pandemic can boost Amex's volume during the pandemic as well as after it subsides because it can limit the number of merchants that go out of business and cardholders who stop using their cards in the future.

 

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