American Express Company, more popularly called AmEx, is a multi-million dollar financial services corporation. AmEx is known for credit cards, charge cards and traveler’s cheques. It is the biggest credit card issuer in the US, accounting for more than one-fourth of the volume of transactions involving cards in the US.
AmEx has captured a large portion of the card market because it appeals to technology and luxury. The company has associated with first rate banks, providing their clients with a status symbol and a feeling of importance.
AmEx continues to diversify in order to attract a wider demography by introducing the idea of affordable luxury. The concept was more evident in the AmEx website which reads “You’re not dreaming – vente-privee is now available in the US, bringing you many of the world’s luxury and fashion brands at up to 70% off. Join Now – vente-privee with American Express.”
AmEx is listed in Fortune Magazine’s Top 20 Most Admired Companies in the World. Businessweek has estimated its value at more than $14 billion.
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