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Can AmEx's Canada Dining Expansion Drive Higher Card Spend?
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Key Takeaways
AXP added Chuck's Roadhouse, Fat Bastard Burrito and Stacked to its Canada network.
American Express said dining remains a key spending category for its Canadian card members.
AXP aims to boost transaction volumes through broader merchant acceptance in dining.
American Express (AXP - Free Report) is expanding its merchant network in Canada by adding card acceptance at three restaurant chains — Chuck’s Roadhouse, Fat Bastard Burrito and Stacked Pancake & Breakfast House. The move is aimed at strengthening the company’s presence in the dining category, which continues to be a key spending area for its cardmembers.
With the addition of these restaurant brands, American Express is offering customers greater payment flexibility and wider dining choices across Canada. It noted that the number of dining locations accepting AmEx in Canada has increased more than 1.5 times since 2021, reflecting steady progress in merchant expansion efforts.
Dining remains an important spending category for AmEx users. Canadian Card Members spent nearly CAD 3,000 on dining on average and made more than 75 dining purchases in 2025. American Express is also supporting restaurant engagement through initiatives such as its sponsorship of MTLàTABLE, which helps participating restaurants attract more customers while encouraging card members to explore Montréal’s dining scene.
This expansion reflects American Express’ strategy to increase merchant acceptance and drive transaction growth. The development also aligns with its continued momentum in restaurant spending, as partnerships with large restaurant chains can support recurring transaction volumes and improve long-term revenue visibility.
How Are Competitors Faring?
Some of AXP’s competitors in the payments space are Visa Inc. (V - Free Report) and Mastercard Incorporated (MA - Free Report) .
Visa has also been working to expand its payment acceptance network. Recently, the company partnered with Fiserv in Europe to help merchants adopt digital payment solutions more easily and improve transaction processing capabilities. The move reflects Visa’s continued focus on strengthening merchant relationships and driving higher payment volumes.
Mastercard has been taking similar steps to boost cardholder engagement in the dining space. Through its Asia Gourmet Circle program, Mastercard is expanding access to restaurant offers and dining experiences across Asia Pacific markets, aiming to encourage higher spending and increase customer engagement through lifestyle-focused benefits.
American Express’ Price Performance, Valuation & Estimates
Shares of AXP have risen 3.2% over the past year against the industry’s decline of 19.6%.
Image Source: Zacks Investment Research
From a valuation standpoint, American Express trades at a forward price-to-earnings ratio of 16.73X, up from the industry average of 10.3X. AXP carries a Value Score of C.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for American Express’ 2026 earnings is pegged at $17.59 per share, implying a 14.4% jump from the year-ago period’s level.
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Can AmEx's Canada Dining Expansion Drive Higher Card Spend?
Key Takeaways
American Express (AXP - Free Report) is expanding its merchant network in Canada by adding card acceptance at three restaurant chains — Chuck’s Roadhouse, Fat Bastard Burrito and Stacked Pancake & Breakfast House. The move is aimed at strengthening the company’s presence in the dining category, which continues to be a key spending area for its cardmembers.
With the addition of these restaurant brands, American Express is offering customers greater payment flexibility and wider dining choices across Canada. It noted that the number of dining locations accepting AmEx in Canada has increased more than 1.5 times since 2021, reflecting steady progress in merchant expansion efforts.
Dining remains an important spending category for AmEx users. Canadian Card Members spent nearly CAD 3,000 on dining on average and made more than 75 dining purchases in 2025. American Express is also supporting restaurant engagement through initiatives such as its sponsorship of MTLàTABLE, which helps participating restaurants attract more customers while encouraging card members to explore Montréal’s dining scene.
This expansion reflects American Express’ strategy to increase merchant acceptance and drive transaction growth. The development also aligns with its continued momentum in restaurant spending, as partnerships with large restaurant chains can support recurring transaction volumes and improve long-term revenue visibility.
How Are Competitors Faring?
Some of AXP’s competitors in the payments space are Visa Inc. (V - Free Report) and Mastercard Incorporated (MA - Free Report) .
Visa has also been working to expand its payment acceptance network. Recently, the company partnered with Fiserv in Europe to help merchants adopt digital payment solutions more easily and improve transaction processing capabilities. The move reflects Visa’s continued focus on strengthening merchant relationships and driving higher payment volumes.
Mastercard has been taking similar steps to boost cardholder engagement in the dining space. Through its Asia Gourmet Circle program, Mastercard is expanding access to restaurant offers and dining experiences across Asia Pacific markets, aiming to encourage higher spending and increase customer engagement through lifestyle-focused benefits.
American Express’ Price Performance, Valuation & Estimates
Shares of AXP have risen 3.2% over the past year against the industry’s decline of 19.6%.
Image Source: Zacks Investment Research
From a valuation standpoint, American Express trades at a forward price-to-earnings ratio of 16.73X, up from the industry average of 10.3X. AXP carries a Value Score of C.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for American Express’ 2026 earnings is pegged at $17.59 per share, implying a 14.4% jump from the year-ago period’s level.
Image Source: Zacks Investment Research
AXP currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.