American Express Company Information
American Express was founded as an express mail dispatcher in 1850, which is where it gets the "express" in its name. Headquartered in New York City, the company quickly obtained the monopoly on shipments of goods throughout the state. It wasn't until the early 20th century that the company introduced financial services into its remit.
American Express launched a money order business in 1857 in a bid to expand its reach throughout the nation. In 1891, the company introduced the Traveler's Cheque, to make obtaining cash abroad more convenient. During the First World War, American Express became one of the few ways that American soldiers fighting in Europe could access money.
| Company Name |
American Express Company |
| Founded |
1850 |
| Founders |
Henry Wells, William G. Fargo, John Warren Butterfield |
| Headquarters |
200 Vesey Street, Manhattan, New York City, NY 10285, United States |
| Website |
americanexpress.com |
| Legal US Status |
Legal |
| Products |
Credit Cards/ Payment Systems |
| Revenue |
US$50.68 billion (2022) |
| Number of Employees |
77,300 (December 2022) |
| Public Company |
Yes |
| Traded as |
NYSE: AXP, DJIA, S&P 100, S&P 500 |
It was in 1958 that Amex launched its first charge card[1], with higher perks following in subsequent decades. In an effort to further situate itself as a leader within the financial services industry, the company acquired a number of investment banking firms throughout the 1980s. Today, American Express accounts for almost 23% of credit card payments in the US.
Its product suite now includes traveler's cheques, financial advisors, international banks, travel, publishing, individual banking and business banking. Forbes named American Express the most valuable brand in global financial services for 2017. In 2020, Amex placed 9th in Fortune Magazine's list of the Top 100 Companies to Work For. Its revenue is estimated at just over $58 billion[5].
By Jane Shaw
Editor at Casinos.US
Updated: November 29, 2024
