American Express Statement on European Commission Proposals

  American Express Statement on European Commission Proposals

Business Wire

NEW YORK -- July 17, 2013

American Express Company (NYSE: AXP) issued the following statement today
based on preliminary reports characterizing the contents of the European
Commission’s draft proposals on payment industry regulation that is scheduled
to be released next week.

  *The publication of formal proposals by the Commission will mark the start
    of a lengthy legislative process and review period. We expect these
    proposals to prompt extensive debate among many market participants.
  *The proposals focus primarily on and cap the interchange fees charged by
    four-party payment systems, such as Visa and MasterCard.
  *The discount rate that American Express charges merchants would not be
  *Our proprietary consumer and corporate card businesses are not covered by
    the proposed pricing caps.
  *Three-party systems, such as American Express, would only be covered when
    they license other institutions to issue cards, as in our Global Network
    Services Business. GNS represents a relatively small percentage of our
    European business.
  *The provisions that focus on separating the payment network and processing
    functions do not appear to impact proprietary networks like ours.

Given the potential impact on consumers and competition within the European
payments sector, American Express has been in touch with senior policy makers
at the Commission and will continue to represent its positions vigorously
throughout the process.

About American Express

American Express is a global services company, providing customers with access
to products, insights and experiences that enrich lives and build business
success.Learn more at and connect with us on,,,, and

Key links to products and services: charge and credit cards, business credit
cards, travel services, gift cards, prepaid cards, merchant services, business
travel, and corporate card.

This release includes forward-looking statements with the meaning of the
Private Securities Litigation Reform Act of 1995, which are subject to risks
and uncertainties. The forward-looking statements contain words such as
“believe,” “expect,” “intend,” “plan,” “aim,” “will,” “may,” should,” “could,”
“would,” “likely,” and similar expressions. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the
date on which they are made. The Company undertakes no obligation to update or
revise any forward-looking statements. Factors that could cause actual results
to differ materially from these forward-looking statements, include, but are
not limited to the issues presented and decisions made in the European
legislative and regulatory processes addressing the proposed regulation of
interchange fees and other practices related to card-based payment
transactions, the amount of time these processes take to reach completion, and
the actual pricing and other requirements ultimately adopted in the final laws
and regulations in the European Union and its member countries.


Marina Norville, +1-212-640-2832
Mike O’Neill, +1-212-640-5951
Ken Paukowits, +1-212-640-6348
Rick Petrino, +1-212-640-5574
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