American Express Co is a global payments company, with its headquarters in lower Manhattan, New York.
The company's primary products include charge and credit cards and travel-related services for consumers and businesses across the globe.
The financial service provider operates through four reportable segments:
• Global Consumer Services Group
• Global Commercial Services
• Global Merchant and Network services
• Corporates & Others
Global Consumer Services Unit
This segment provides a broad set of card products, rewards and services to consumers in the United States and internationally. In addition, the value-added services include consumer travel services and deposit and non-card financing products.
Global Commercial Services Unit
The segment provides payment and expense management solutions to companies, commercial customers, and small, medium, and large-scale business organizations. The offerings include charge cards, revolving credit cards, cross border payment services and other commercial financing solutions.
Global Merchant and Network Services
The financial firm processes card transactions through its global payment network and provides marketing information and other value-added services to merchants, merchant acquirers, and processors. In addition, the segment also provides multi-channel marketing programs, services, and data analytics.
Corporate and Other Units
It mainly consists of corporate functions and other businesses operations of the company, including prepaid services business and customer-related support functions.
The company was founded as a joint stock association in 1850 by John Warren Butterfield, Henry Wells, and William G. Fargo. It was incorporated in 1965.
American Express Co is mainly known for its charge cards and credit cards. However, it is reportedly one of the world's largest companies providing travel services.
The company provides business travel-related services through a non-consolidated joint venture, American Express Global Business Travel.
The company's product and services include:
• financing products
• network services
• point-of-sale marketing and information products
• processing services
• merchant-centric services
• customer loyalty programs
• Expense management products and services
• Travel-related services
• Stored value/prepaid products
The company reportedly has around 43.1 million cards-in-force as of December 31, 2020. Each of the cards had average spending of approximately US$19,900, the company claims.
The payments provider is listed on the New York Stock Exchange (NYSE) and trades under the ticker 'AXP'.
It is also among Dow Jones Industrial Average (DJIA), S&P 500, and S&P 100 components.