Entities

American Express

American Express

Nickname
Amex
Entity Type
Industry
Founding Date
3/18/1850

American Express is a universal financial services corporation that provides customers with access to products, insights, and experiences that enrich lives and build business success. This driver of commerce offers innovative payment, travel, and expense management solutions for individuals and businesses of all sizes. Besides credit card services, American Express also offers a host of other digital products as well.

  • American Express was founded in 1850 as a freight forwarding and mail service company. 
  • Just a few years later, the company expanded into the financial services industry by offering a money order component. 
  • It launched its first charge cards in the 1950s and has since gone on to become one of the best-known credit card companies around the world. 
  • As one of the biggest credit card companies in the world, American Express generates revenue from transactions occurring at partner merchants, as well as through annual membership fees and interest income.
  • Amex typically charges higher fees, making it in merchants' best interest to urge customers to use other cards.
  • It has a "spend-centric" model aimed at growing the number of overall transactions on its cards through special offers and relatively low fees.