American Express Company or AmEx (NYSE: AXP) is the world's largest card issuer by purchase volume. The company’s principal services are charge and credit payment card products and travel-related services offered to consumers and businesses around the world. American Express offers personal charge & credit cards, small business charge & credit cards, corporate cards, gift cards, prepaid cards, rewards, travel, personal savings, business services, insurance and more. The products and services are sold through various channels, including direct mail, online applications, in-house and third-party sales forces and direct response advertising. Amex cards account for approximately 25% of the total dollar volume of credit card transactions in the US, the highest of any card issuer. Discount revenue, which is the company’s largest revenue source, represents fees charged to merchants when card members use their cards to purchase goods and services at merchants on the company’s network. In March 2011, the company completed the acquisition of a controlling interest in Loyalty Partner. Loyalty Partner is a leading marketing services company best known for the loyalty programs. American Express Company was established in 1850 through the merger of the express companies owned by Henry Wells, William G. Fargo and John Warren Butterfield. The company's logo is a Roman gladiator whose image appears on the company's travelers' cheques and charge cards. Kenneth I. Chenault is the chairman and chief executive officer of American Express. He holds a JD from Harvard Law School and a BA in history from Bowdoin College. The company earned $5.2 billion in net income and $33 billion in revenue in 2015. At year end, total cards-in-force stood at $118 million. As of September 30, 2016, American Express had total U.S. consumer and small business card member loans of $53.9 billion and customer deposits of approximately $54 billion. The company’s market capitalization is $56 billion (October 19, 2016).
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