As you’re no doubt already aware, American Express is one of the world’s most widely recognised financial companies. In recent years, it has become increasingly popular with millennials thanks to its innovative products and services – you can look at American Express (AMEX) credit card offers easily online.
But where did American Express come from? How did it become the company it is today? Join us as we take a journey through the history of American Express.
1850-1900: From Express Delivery to Financial Services
The roots of American Express date back to 1850, when the company was founded in New York City. At first, American Express was in the business of express shipping, which was a new and innovative way to transport goods at the time. The company quickly became a success, and by 1854, it had offices in Boston, Philadelphia, and Chicago.
In 1882, American Express entered the financial services industry by launching its first money order business. This was followed by the introduction of traveller’s checks in 1891. These new products were very successful, and helped solidify American Express as a major player in the financial services industry.
1910-1960: Going Public and Entering the Credit Card Business
In 1910, American Express went public on the New York Stock Exchange – this move helped to further increase the company’s profile and reputation. Then, in 1958, American Express entered the credit card business with the launch of its Charge Card product, and this was a major turning point for the company, laying the foundation for its future success.
1970-present: Continued Innovation and Growth
In recent years, American Express has continued to innovate and grow. In 1987, it introduced the Platinum Card, which quickly became a status symbol among high-end consumers. In 1999, American Express launched its online banking service, which made it easier than ever for customers to manage their accounts 24/7. And in 2003, the company launched its now iconic Blue Cash Rewards card.
Today, American Express is a world-renowned financial institution with over 100 million cardholders worldwide. The company continues to innovate, with new products and services that make it easier than ever for consumers to manage their finances. There’s no doubt that American Express will continue to be a major force in the financial world for many years to come.
Onwards and upwards
From its humble beginnings as an express shipping company to its current position as a leading player in the financial world, American Express has come a long way in 160 years. And there’s no doubt that it will continue to innovate and grow in the years ahead!