American Express

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.

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.

1. 2013Airport-lounge business begins

   American Express starts operating airport lounges for eligible cardholders.

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2. 2008Bank holding company conversion

   American Express changes its regulatory status during the global financial crisis.

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3. 1984Platinum Card launched

   American Express introduces a premium card marketed around exclusivity and enhanced benefits.

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4. 1975“Don’t Leave Home Without It” campaign begins

   American Express introduces one of the most recognizable advertising platforms in payment-card marketing.

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5. 1969Green Card introduced

   The Green Card becomes a major part of American Express’s charge-card portfolio.

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6. 1966Gold Card introduced

   The company launches the Gold Card for higher-spending members.

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7. 1958First American Express charge card launched

   American Express enters the payment-card market with a paper charge card and subsequently adopts embossed plastic cards.

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8. 1918Railroad express operations consolidated

   Wartime railroad consolidation transfers the express business into the American Railway Express Company.

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9. 1915Travel division established

   American Express establishes a travel division and its first travel agency.

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10. 1891Travelers Cheque introduced

    The company launches a travelers cheque in multiple denominations, creating a durable international travel and payments franchise.

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11. 1882Money-order business begins

    American Express expands from express transportation into financial services by starting a money-order business.

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12. 1850American Express is founded

    Henry Wells, William G. Fargo and John Warren Butterfield combine express businesses to establish the company in Buffalo, New York.

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

• American Express payment cardsPayment cards1958

  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.

• Green CardCharge card1969

  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.

• Gold CardPremium payment card1966

  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.

• Platinum CardPremium travel card1984

  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.

• Centurion CardInvitation-only payment card1999

  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.

• Membership RewardsRewards program

  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.

• American Express TravelTravel services1915

  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.

• Business and Corporate PaymentsCommercial 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.

• Centurion LoungesAirport lounges2013

  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.

• 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.

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• 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.

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• 2008Convert to a bank holding companyStrategy

  The global financial crisis created severe funding and regulatory pressure across financial institutions.

  What changed. 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.

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• 1984Launch the Platinum CardProduct launch

  American Express sought to reinforce its premium positioning among affluent and frequent-travel customers.

  What changed. 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.

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• 1981Acquire Shearson Loeb RhoadesM&A

  American Express sought to become a broader financial-services holding company and add investment banking and brokerage capabilities.

  What changed. 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.

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• 1958Enter the charge-card marketProduct launch

  The growth of Diners Club prompted American Express to reconsider its long-standing focus on travel and financial services.

  What changed. 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.

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• 1989Edmond Safra smear campaignControversy

  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.

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• 2026American Express announced a future World Trade Center headquarters development

  The cited reference says American Express announced plans to develop and solely occupy the planned 2 World Trade Center skyscraper.

  Other
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• 2023American Express card network processed more than $1.7 trillion in purchase volume in 2023

  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.

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• 2013American Express began operating airport lounges

  The company entered airport-lounge operations, providing access to qualifying cardholders.

  Product launch
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• 2008American Express converted to a bank holding company during the financial crisis

  The company changed its regulatory structure during the global financial crisis and became a bank holding company.

  Regulation
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1. American Express
2. American Express: Who We Are