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8/13/2019 American Express Prezentare
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American Express
Student:
Niculescu Dana
BA, YEAR 3, 8812
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American Express Company, also known as AMEX, is an
American multinational financial services corporation
headquartered in New York City.
Founded in 1850, it is one of the 30 components of the Dow
Jones Industrial Average.
The company is best known for its credit card, charge card,
and travelers cheque businesse.
Amex cards account for approximately 24% of the total
dollar volume of credit card transactions in the US.
SHORT HISTORY
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It was founded as a joint stock
corporation by the merger of theexpress companies owned by:
Henry Wells (Wells &
Company)
William Fargo (Livingston,
Fargo & Company)
John Warren Butterfield (Wells,
Butterfield & Company).
Henry Wells
William Fargo
John Warren
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Visa operates the world's largest consumer payment system and
boasts more than 2 billion credit and other payment cards incirculation
As part of its business, the company licenses the Visa name to
member institutions, which issue and market their own Visa
products and participate in the VisaNet payment system that
provides authorization, processing, and settlement services
The company also offers debit cards, Internet payment systems,
value-storing smart cards, and traveler's checks. Visa's network
connects thousands of financial institutions worldwide.
MAIN COMPETITORS
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Serving approximately 22,000 member financial institutions
worldwide, MasterCard is the #2 payment system in the US.
It markets the MasterCard (credit, debit, and prepaid cards) and
Maestro (debit and prepaid cards, mainly in Europe) brands,
provides a transaction authorization network, establishes
guidelines for use, and collects fees from members
The company provides its services in more than 210 countriesand territories, and its cards are accepted at more than 35
million locations around the globe.
Also operates the Cir rus ATM network.
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Best known for issuing Discover-brand credit cards, used by
more than 25 million members.
The company's cards, which include several levels ofbusiness and consumer accounts, repay cardholders a
percentage of the purchase price each time they use their
cards.
Licenses Diners Club credit cards, which are accepted inmore than 185 countries.
Also offers direct banking services, makes student and
personal loans and runs the PULSE Network ATM system.
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Card products Consumer cards
Small business services
(also known as American ExpressOPEN)
Commercial cards and services
Non-card products Traveler's Cheques
Financial Advisors
Travel services:
booking, insurance, etc
MAIN PRODUCTS AND
SERVICES
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STRENGHTS Customer satisfaction - J.D. Power and Associates award for customer
satisfaction (2012); capability to provide quality services;
Card memebership10% of the market share; customers with strong
card rating and high income;
F inancial strenghtthe company grew loans in 2012 by 4 pp andincreased the Earnings Per Share from 4.04$ to 4.44$
Strong brand name
Loyalty of customers and loyalty programs (membership rewards
program) Global coverage
Standardization of operations
Product innovation(ex: Blue Bird card for youngsters)
Ability to adopt and apply new marketing strategies and also
technologies
SWOT ANALYSIS
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Growing market share in e-payment services
Expanding the number of small-business merchants offering
Amex as a payment option
Expanding product offerings to those not traditionally in the target
market for the firm (Bluebird card)
Expanding Loyalty Partner Program worldwide(marketing
support for local merchants)
Lawsuit against Visa and Master Card can stop their monopolistic
practices and provide market share to American Express
Opening up their network for use by financial institutions yields
high returns
Reduction of trade barriers and government regulations
OPPORTUNITIES
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Instability in the economic and political
environment worldwide
Rapid changes in Financial Industry
Intense competition
THREATS
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Thank you for your attention!