American Express

American Express is a financial services company based in New York City. It was founded in 1850 in Buffalo as an express mail business by Henry Wells, William Fargo and John Butterfield. It later sold money orders and travelers cheques, and it introduced its first charge card in 1958.

Unlike Visa and Mastercard, American Express usually acts as both the card network and the issuer, so it handles billing and lending for many of its cards. Well known products include the Green, Gold and Platinum cards and the Centurion card. Cardholders earn Membership Rewards points and use perks such as airport lounge access.

The company also provides business cards, corporate travel services and savings accounts. Merchants often pay higher fees to accept its cards, and that has led to disputes over rules against steering customers to other payment types. Its headquarters sits in the World Financial Center area of Lower Manhattan. Stephen Squeri is chairman and chief executive. The company runs a large rewards program and Centurion lounges at airports. American Express is a member of the Dow Jones Industrial Average and reports in US dollars.