Overview

American Express is an American bank holding company and multinational financial services corporation whose principal activities are built around payment cards, payment-network services, consumer and commercial finance, travel and expense management. The company is headquartered at 200 Vesey Street in Lower Manhattan, New York City, and American Express Company is listed on the New York Stock Exchange under the ticker AXP. The business began in 1850 as a freight-forwarding and express-delivery company created through the combination of companies associated with Henry Wells, William G. Fargo and John Warren Butterfield. Its early network transported goods, currency and securities and connected rail, shipping and commercial routes. During the late nineteenth and early twentieth centuries, American Express moved into financial services and international travel. Its money-order business began in the 1880s, while the American Express Travelers Cheque, introduced in 1891, gave travelers a widely recognizable alternative to carrying cash. A travel division and travel-agency operation followed in 1915. The company’s original railroad express business ended during the First World War, when the United States consolidated railroad express operations into the American Railway Express Company. American Express subsequently concentrated more heavily on travel, financial services and payments. It entered the card business in 1958 with a paper charge card, later introducing plastic cards and a succession of products aimed at higher-spending consumers, travelers and business customers. The Gold Card appeared in 1966, the Green Card in 1969, the Platinum Card in 1984 and the invitation-based Centurion Card in 1999. American Express has generally positioned itself as a premium, service-led payments brand. Its value proposition combines card acceptance, rewards, customer support, travel and dining benefits, membership services and, for business customers, expense-control and payment-management tools. Its product portfolio includes consumer credit and charge cards, small-business and corporate cards, Membership Rewards, cash-back products, travel services, merchant acceptance and commercial-payment solutions. American Express National Bank is a direct bank owned by the company. The company has also pursued broader financial-services strategies at different points in its history. In the 1980s it acquired businesses including Shearson, Lehman Brothers, E. F. Hutton and Investors Diversified Services, although several of those activities were later sold, separated or reorganized. During the 2008 financial crisis, American Express converted to a bank holding company, supporting its access to the Federal Reserve system and changing its regulatory structure. American Express operates its own payments network as well as issuing and servicing cards. According to the cited reference material, it had 141.2 million cards in force worldwide at the end of 2023 and processed more than $1.7 trillion in purchase volume that year. It was the fourth-largest card network globally by purchase volume in 2023, behind China UnionPay, Visa and Mastercard. Acceptance is especially broad in the United States, while coverage has historically been less extensive in parts of Europe and Asia. The brand remains strongly associated with premium consumer spending, frequent travel, dining, business travel and corporate payments.

History

American Express was established in Buffalo, New York, in 1850 through the merger of express companies associated with Henry Wells, William G. Fargo and John Warren Butterfield. It initially specialized in the movement of freight, currency and securities. The company expanded through relationships with railroads, steamship companies and other express operators, and moved its headquarters to New York City as its commercial importance grew. Its first major financial-services extension was a money-order business launched in the 1880s. In 1891, after difficulties using traditional letters of credit in Europe, the company introduced the American Express Travelers Cheque. The product was issued in several denominations and helped make the company an international travel brand. During the First World War, American Express handled letters, money and relief parcels for stranded travelers and prisoners of war. In 1915 it created a travel division and established a travel agency. The company’s express-transport activities were effectively removed from American Express in 1918. Wartime railroad consolidation transferred the pooled property and operations of existing express companies to the American Railway Express Company. American Express then developed its travel, money-transfer and financial-service activities without the former railroad express network. American Express seriously considered a travel charge card after the emergence of Diners Club. It launched its own card in 1958, initially using paper cards, and became a major issuer of embossed plastic cards the following year. The Gold Card was introduced in 1966, the Green Card in 1969 and the Platinum Card in 1984. These products strengthened the company’s premium positioning and connected payment usage with service, travel and lifestyle benefits. The Centurion Card followed in 1999 as an invitation-based product. From the late 1970s through the 1980s, American Express attempted to build a broad financial-services group. It acquired a stake in Warner Communications’ cable operation, bought Shearson Loeb Rhoades, acquired Trade Development Bank of Geneva, and added Lehman Brothers, E. F. Hutton and Investors Diversified Services to different parts of its corporate portfolio. The cable venture was later divested, and American Express also sold its Swiss banking operations. The company’s expansion created a large financial conglomerate but exposed it to businesses beyond its core card and travel franchises. In the 1990s, American Express focused more selectively on payments, targeted marketing and card-member economics. During the 2008 financial crisis it became a bank holding company. In the following period it continued investing in its card network, rewards, digital services, commercial payments and travel-related benefits. Airport lounges, introduced in 2013, extended the membership proposition into physical travel infrastructure. Today the company serves consumers, small businesses, corporations and merchants through card issuing, transaction processing, lending, rewards, travel and expense-management services.

2013
Airport-lounge business begins
[1]American Expressen.wikipedia.org
American Express starts operating airport lounges for eligible cardholders.
2008
Bank holding company conversion
[1]American Expressen.wikipedia.org
American Express changes its regulatory status during the global financial crisis.
1984
Platinum Card launched
[1]American Expressen.wikipedia.org
American Express introduces a premium card marketed around exclusivity and enhanced benefits.
1984
The company introduces the Platinum Card
1975
“Don’t Leave Home Without It” campaign begins
[1]American Expressen.wikipedia.org
American Express introduces one of the most recognizable advertising platforms in payment-card marketing.
1969
Green Card introduced
[1]American Expressen.wikipedia.org
The Green Card becomes a major part of American Express’s charge-card portfolio.
1966
Gold Card introduced
[1]American Expressen.wikipedia.org
The company launches the Gold Card for higher-spending members.
1966
American Express launches its Gold Card
1958
First American Express charge card launched
[1]American Expressen.wikipedia.org
American Express enters the payment-card market with a paper charge card and subsequently adopts embossed plastic cards.
1958
The company introduces its first charge card
1918
Railroad express operations consolidated
[1]American Expressen.wikipedia.org
Wartime railroad consolidation transfers the express business into the American Railway Express Company.
1915
Travel division established
[1]American Expressen.wikipedia.org
American Express establishes a travel division and its first travel agency.
1891
Travelers Cheque introduced
[2]American Express: Who We Areamericanexpress.com
The company launches a travelers cheque in multiple denominations, creating a durable international travel and payments franchise.
1882
Money-order business begins
[1]American Expressen.wikipedia.org
American Express expands from express transportation into financial services by starting a money-order business.
1850
American Express is founded as an express mail business
[2]American Express: Who We Areamericanexpress.com
Henry Wells, William G. Fargo and John Warren Butterfield combine express businesses to establish the company in Buffalo, New York.

Products and positioning

A premium, service-oriented global financial-services brand emphasizing membership benefits, rewards, travel and dining privileges, customer service, merchant relationships and business-payment control.

Payment cards · 1958
American Express payment cards
The company issues consumer, small-business and corporate payment cards, including charge and credit products. Cards commonly combine payment functionality with customer service, rewards, travel benefits, dining privileges, spending controls and access to selected partner services. Product availability, fees and benefits vary by market.
Charge card · 1969
Green Card
Introduced in 1969, the Green Card is one of American Express’s best-known card identities. It has historically been associated with everyday and travel spending, membership services and rewards, with the precise product structure differing across markets and generations.
Premium payment card · 1966
Gold Card
Introduced in 1966 for higher-spending members, the Gold Card is positioned around enhanced membership value and benefits. Depending on market and version, its proposition can include rewards, dining, travel and purchase-related features.
Premium travel card · 1984
Platinum Card
Launched in 1984 as an ultra-premium card, the Platinum Card emphasizes frequent-traveler and lifestyle benefits. Its proposition has included travel services, airport-lounge access, rewards and premium assistance, with specific benefits varying by issuing market.
Invitation-only payment card · 1999
Centurion Card
Introduced in 1999, the Centurion Card is an invitation-based American Express product associated with highly affluent customers and premium service. It represents the upper end of the company’s card hierarchy and is marketed around exclusivity and specialized benefits.
Rewards program
Membership Rewards
Membership Rewards is American Express’s points-based loyalty program. Eligible card spending can earn points that may be redeemed through travel, merchandise, gift cards or participating partners, subject to product and market-specific rules. A rewards program associated with eligible American Express cards; terms and redemption options vary.
Travel services · 1915
American Express Travel
American Express Travel provides booking, trip-support and related travel services for eligible consumers and corporate travelers. It extends the company’s historical connection with travel agencies, travelers cheques and business travel.
Commercial payments
Business and Corporate Payments
This business serves small companies, large corporations and institutions through commercial cards, purchasing payments, expense management, reporting and payment-control tools. The products are designed to improve visibility over organizational spending and simplify reconciliation and administration.
Airport lounges · 2013
Centurion Lounges
American Express began operating airport lounges in 2013. Access is tied to qualifying card products and local rules, extending the company’s membership proposition into airport hospitality and travel infrastructure.
American Express consumer cards
Consumer charge and credit card products with features and benefits that vary by product and market.
American Express business and corporate payments
Cards and payment tools for small businesses and corporate customers, including expense-related services.

Controversies

2026
OCC fines American Express $350 million over anti-money laundering control failures
The Office of the Comptroller of the Currency fined American Express $350 million over what it described as widespread failures in the company's anti-money laundering controls. According to the regulator, approximately $13 billion in suspected money laundering activity was inadequately monitored and reported over a period of nearly 11 years, from June 2014 to May 2025. American Express agreed to the enforcement order without admitting or denying the regulator's findings. The penalty and the accompanying enforcement order constitute a regulatory action affecting the American Express brand.
Source
2026
American Express fined US$350 million for anti-money laundering lapses
US federal regulators fined American Express US$350 million for failing to catch and report money laundering. The OCC cited deficiencies in the bank's compliance programmes and systemic breakdowns in suspicious activity monitoring and reporting that failed to timely identify, evaluate, and sufficiently report approximately US$13 billion of suspected trade-based money laundering activity over the past decade; the Federal Reserve separately announced an enforcement action linked to the firm's anti-money laundering programme. Amex said the penalty will not impact the full-year 2026 guidance it previously issued and that no asset cap was imposed.
Source
2021
ICO fines American Express Services Europe over marketing emails
The UK Information Commissioner’s Office fined American Express Services Europe £90,000 after it sent more than four million marketing emails to customers who did not want them. American Express disputed that the emails were marketing, but the ICO determined they constituted a marketing effort.
Source
2015
U.S. judge rules American Express violated antitrust laws
A federal judge ruled that American Express violated U.S. antitrust laws by barring merchants from encouraging customers to use one credit card over another. The judge said the policies harmed competition and prevented merchants from trying to lower processing costs.
Source
1989
Edmond Safra smear campaign
After American Express acquired Trade Development Bank of Geneva, false allegations concerning banker Edmond Safra were circulated to news organizations, including claims involving criminal and intelligence-related activity. American Express later acknowledged the campaign, its public-relations chief resigned, and the company apologized to Safra and made an $8 million charitable donation selected by him.
Source

Marketing campaigns

2005Don’t Leave Home Without It renewal
International markets
American Express revived its well-known travel-and-security advertising proposition for a new period of card marketing.
Outcome. Extended the life of the company’s signature brand platform.
Source
1975Don’t Leave Home Without It
United States · International markets
American Express introduced a long-running advertising platform that framed the card as an essential travel and everyday companion. The campaign became closely identified with the brand and was renewed in 2005.
Outcome. Established one of the most recognizable slogans in payment-card advertising.
Source

Brand decisions

2008
Convert to a bank holding companyStrategy
Background
The global financial crisis created severe funding and regulatory pressure across financial institutions.
Action taken
American Express converted to a bank holding company.
Aftermath
The change placed the company within a bank-holding-company regulatory framework and supported its continued development as a diversified payments and banking business.
Source
1984
Launch the Platinum CardProduct launch
Background
American Express sought to reinforce its premium positioning among affluent and frequent-travel customers.
Action taken
It introduced the Platinum Card with an explicitly exclusive proposition and a high annual fee at launch.
Aftermath
The product became a flagship of the company’s premium travel and lifestyle portfolio.
Source
1981
Acquire Shearson Loeb RhoadesM&A
Background
American Express sought to become a broader financial-services holding company and add investment banking and brokerage capabilities.
Action taken
It acquired Shearson Loeb Rhoades and operated the brokerage as part of the American Express group.
Aftermath
The acquisition was followed by further financial-services expansion and later restructuring and divestitures.
Source
1958
Enter the charge-card marketProduct launch
Background
The growth of Diners Club prompted American Express to reconsider its long-standing focus on travel and financial services.
Action taken
The company launched its own charge card, initially using paper cards and later moving to embossed plastic.
Aftermath
Payment cards became a central growth engine and the foundation for the company’s modern brand architecture.
Source

Recent events

2026
American Express announced a future World Trade Center headquarters development[1]American Expressen.wikipedia.org
Other
The cited reference says American Express announced plans to develop and solely occupy the planned 2 World Trade Center skyscraper.
2023
American Express card network processed more than $1.7 trillion in purchase volume in 2023[1]American Expressen.wikipedia.org
Other
Reference material describes American Express as the fourth-largest global card network by purchase volume and reports 141.2 million cards in force at year-end.
2013
American Express began operating airport lounges[1]American Expressen.wikipedia.org
Product launch
The company entered airport-lounge operations, providing access to qualifying cardholders.
2008
American Express converted to a bank holding company during the financial crisis[1]American Expressen.wikipedia.org
Regulation
The company changed its regulatory structure during the global financial crisis and became a bank holding company.