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2024-04-14T21:56:56Z

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[[File:American_Express_Company_1865.JPG|thumb]] [[File:Amer_express_dog_1890.jpg|thumb]] [[File:Veel_Amerikanen_bij_American_Express_Damrak_om_geld_en_dergelijke_in_te_wisselen,_Bestanddeelnr_924-8211.jpg|thumb]] [[File:Shearson_Lehman_Logo.png|left|thumb]] '''American Express''' (AmEx) is a multinational [[financial services]] corporation headquartered in [[New York City]]. The company was founded in 1850 and is one of the 30 components of the [[Dow Jones Industrial Average]]. American Express is known for its [[credit card]], [[charge card]], and [[traveler's cheque]] businesses. Its cards account for approximately 24% of the total dollar volume of credit card transactions in the United States, making it the 4th largest card network in the world by purchase volume.

==History==
American Express was established as an [[express mail]] business in [[Buffalo, New York]], in 1850, by Henry Wells, William G. Fargo, and John Warren Butterfield, merging their respective express companies. The company quickly adapted to the changing landscape of financial services, introducing its first [[traveler's cheque]] in 1891 and launching a [[charge card]] service in 1958.

==Products and Services==
American Express offers a wide range of products and services, including personal, small business, and corporate [[credit cards]]; [[charge cards]]; [[travel services]]; [[gift cards]]; [[prepaid cards]]; and [[savings accounts]] and [[CDs]]. The company also provides services in [[travel insurance]], [[business consulting]], and [[merchant acquisition]] and processing.

===Credit and Charge Cards===
American Express is renowned for its premium [[credit cards]] and [[charge cards]], including the Platinum Card, the Gold Card, and the Green Card. These products are known for offering extensive [[rewards programs]], including points for travel, dining, and shopping, as well as benefits like airport lounge access and travel insurance.

==Membership Rewards Program==
The American Express Membership Rewards program allows cardholders to earn points on purchases, which can be redeemed for travel, shopping, and entertainment rewards. This program is a key feature of many American Express cards and adds significant value for cardholders.

==Business Model==
American Express operates a closed-loop network, acting as both the card issuer and the network processor. This model allows AmEx to capture a larger portion of the transaction value chain, offering detailed data analytics to merchants and tailored services to cardholders. The company primarily generates revenue through discount rates charged to merchants, annual fees from cardholders, and interest on outstanding balances.

==Corporate Affairs==
The company's governance structure includes a CEO and a board of directors. As of the last update, Stephen J. Squeri serves as the Chairman and CEO of American Express. The company is committed to corporate social responsibility, with initiatives focusing on community service, sustainable business practices, and diversity and inclusion.

==Challenges and Controversies==
American Express has faced various challenges and controversies, including antitrust lawsuits related to its merchant acceptance policies and fees. The company has also been impacted by economic downturns, which affect consumer spending and borrowing.

==See Also==
* [[Credit card]]
* [[Financial services]]
* [[Dow Jones Industrial Average]]
* [[Traveler's cheque]]

[[Category:Credit cards]]
[[Category:Financial services companies of the United States]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:American Express]]
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American Express - Revision history

Prab: CSV import