American Express Co. Expands Card Network Business
American Express Co., listed on the NYSE under the ticker AXP, operates as a provider of card-issuing, merchant-acquiring, and card network businesses. Founded in 1850 by Henry Wells, William G. Fargo, and John Warren Butterfield, the company is headquartered in New York.
Its products and services include credit cards, business credit cards, corporate programs, gift cards, savings accounts and CDs, and the American Express App. The company operates through five segments: United States Consumer Services (USCS), Commercial Services (CS), International Card Services (ICS), Global Merchant and Network Services (GMNS), and Corporate and Other.
The GMNS segment is involved in operating a global payments network that processes and settles card transactions, acquires merchants, and provides multi-channel marketing programs and capabilities, services and data analytics. The company was listed on the NYSE through an IPO dated May 18, 1977.