The American Express Company is a multinational financial services organization headquartered in New York City. Founded in 1850, it is now one of the 30 companies that make up the Dow Jones Industrial Average. Renowned globally for its traveler’s checks, charge cards, and credit card services, American Express (Amex) cards account for approximately 24 percent of all credit card transaction dollar volume in the United States.
Interbrand and Business Week have ranked American Express as the 22nd most valuable brand worldwide, valuing it at nearly $15 billion. Fortune magazine includes Amex in its prestigious “Top 20 Most Admired Companies in the World” list. The company’s logo, featuring a Centurion, has been globally recognized since its introduction in 1958 and is prominently displayed on its credit cards, charge cards, and traveler’s checks.
American Express has been a driving force in American commerce, providing innovative solutions for expense management, payment needs, and travel planning to both businesses and individual consumers. The company assists its customers in achieving their goals with industry-leading benefits, business-building insights, exclusive experiences, and global customer care services.
As the largest card issuer in the world by purchase volume, American Express processes millions of transactions daily. It positions itself as the leading network for high-spending card members.
Card members enjoy extensive benefits, including one of the world’s largest travel networks and leading rewards programs. The company is consistently recognized for its innovation and provides 24/7 global customer service.
American Express offers numerous advantages to businesses as well. Small business owners benefit from financial control, flexibility, increased purchasing power, and cash flow assistance. Large corporations gain access to commercial payment expertise and tools to effectively manage their spending, resulting in billions of dollars in aggregate savings. Merchants can enhance their business operations by leveraging American Express’s information management and marketing insights.
Interestingly, American Express did not begin as a financial services company. It originally started as an express mail business in Buffalo, New York, formed by founders Henry Wells, William Fargo, and John Warren Butterfield. While Wells Fargo & Co, a sister company at the time, managed operations in California and the West, American Express handled the movement and shipment of goods, currencies, and securities within New York state, maintaining a near-monopoly for many years.
The company’s foray into financial services began in 1882 with the introduction of money orders to compete with those of the U.S. Post Office, followed by the issuance of its famous traveler’s checks in 1891, available in denominations of $10, $20, $50, and $100.
