American Express

American Express is an American financial services company whose businesses include payment cards, a card network, lending, and travel services. It issues many of its own cards and operates a closed-loop payment network.

Closed-loop payment card network: A payment network in which one company can issue cards, process transactions, and manage merchant relationships. American Express combines card issuing and network operation rather than relying on a separate issuing bank.
American Express Company: The company founded in 1850 to provide express mail and freight services in the United States. The financial services business grew out of this express transport company.
Membership Rewards: American Express’s loyalty program that lets eligible cardholders earn and redeem points. The program links spending on its cards with travel, merchandise, and other rewards.
Visa: A global payments technology company whose network processes electronic payments made with Visa-branded cards. Visa generally relies on separate banks to issue cards, unlike American Express’s integrated model.
Payment card: A card that lets its holder make payments or access credit through an electronic payment system. American Express products use cards to connect account holders with merchants and payment services.
Henry Wells: An American entrepreneur who co-founded American Express and Wells Fargo. Wells helped establish the company as an express delivery business.
American Express Global Business Travel: A corporate travel management company formerly owned by American Express and now independently operated. It reflects the company’s long involvement in organizing business travel, though it is no longer part of the parent company.
Mastercard: A global payments technology company that operates a network for Mastercard-branded payment cards. Mastercard is a close network competitor but typically does not issue cards directly to consumers.
Merchant acquiring: The service of enabling businesses to accept and process card payments. American Express recruits merchants and routes their transactions through its network.
William Fargo: An American entrepreneur who co-founded American Express and Wells Fargo. Fargo was among the founders who built the company’s early express operations.

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