American Express Grows Merchant Network Five-Fold Since 2017

American Express Co. grew its global merchant acceptance rate by more than 16% in the 12 months through June as it continues to invest in the domestic and international network of places that accept its credit cards.

Around 160 million merchants accepted Amex cards as of the end of June, according to an emailed statement Tuesday. The number of locations Amex cards are accepted has increased almost five-fold since 2017, excluding locations through certain payment facilitators.

Anna Marrs, the firm’s group president for global merchant and network services, attributed the growth to some specific markets, including Japan and the ...