Last $89.27 USD
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Volume 1.0M
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Company Description

Contact Info

200 Vesey Street

New York, NY 10285

United States

Phone: 212-640-2000

Fax:

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. Segments The company is principally engaged in businesses comprising four segments: Global Network & Merchant Services, U.S. Card Services, International Card Services, and Global Commercial Services. GLOBAL NETWORK & MERCHANT SERVICES The Global Network & Merchant Services segment operates a global payments network that processes and settles proprietary and non-proprietary card transactions. It acquires merchants, provides point-of-sale products and services, and leverages its closed-loop network to offer multi-channel marketing programs and capabilities, services, and reporting and analytical data to its merchants around the world. It enters into agreements with third-party card issuers and acquirers, licensing the American Express brand and extending the reach of the global network. The majority of Cards bearing its logo are issued by its principal operating subsidiary, American Express Travel Related Services Company, Inc. (TRS), by the company’s U.S. banking subsidiaries, American Express Centurion Bank (Centurion Bank) and American Express Bank, FSB (AEBFSB), and by other operating and banking subsidiaries outside the United States. In addition, its Global Network Services (GNS) business establishes and maintains relationships with banks and other institutions around the world that issue Cards and, in certain countries, acquire local merchants on the American Express network. The company’s Global Merchant Services (GMS) business provides the company with access to transaction and merchant data through its closed-loop network, which encompasses relationships with both the Card Member and the merchant. Global Network Services The company continues to pursue a strategy, through its GNS business, of inviting U.S. and foreign banks and other institutions to issue Cards and, in some countries, act as merchant acquirers on the American Express network. The GNS business has established 148 Card-issuing and/or merchant-acquiring arrangements with banks and other institutions in 136 countries. In 2013, GNS signed five new partners to issue Cards and/or acquire merchants on the American Express network, including new card-issuing partnerships with Wells Fargo and U.S. Bank in the United States, Shanghai Pudong Development Bank in China, IndusInd Bank in India and Barclaycard in the United Kingdom. GNS also supported existing partners in launching approximately 95 new products during 2013, with the total number of American Express-branded GNS partner products standing at approximately 1,200. New products launched in 2013 include the Centurion Card from American Express issued by Nedbank in South Africa, the TSB Avios Credit Card Account in the United Kingdom and the KB Kookmin Good Day Platinum American Express Card in South Korea. Global Merchant Services (GMS) The company’s GMS business builds and maintains relationships with merchants, processes Card transactions and settles with merchants that choose to accept Cards for Card purchases (Charges). The company signs merchants to accept Cards and provide marketing information and other programs and services to merchants, leveraging the capabilities provided by its closed-loop network. The company also offers point-of-sale products and services, support for Card acceptance, fraud prevention and other value-added services. During 2013, the company also launched a program called OptBlue in order to expand Card acceptance by U.S. small merchants that have a projected American Express charge volume of less than $1 million per year. The company offers fraud prevention services to merchants for transactions on the American Express network, and its subsidiary, Accertify, Inc., which the company acquired in 2010, is a provider of solutions that help merchants combat fraudulent online and other card-not-present transactions. Accertify provides a hosted software application that offers an extra level of security for transactions on any of the major payment networks, including Am

 

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Valuation AXP Industry Range
Price/Earnings 17.1x
Price/Sales 3.0x
Price/Book 4.6x
Price/Cash Flow 16.6x
TEV/Sales 0.5x
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