ccept the company’s card contact it directly). The company’s IO partners and JVs also add new local merchants to the American Express network. With the company’s direct and inbound channels, it acquires the merchant, owns the contract, agrees with the merchant on the discount rate and handles servicing. In 2014, the company established a new merchant-acquiring program, OptBlue, to expand card acceptance by the U.S. small merchants. In the OptBlue program, third-party acquirers or processors contract directly with merchants for card acceptance and determine merchant pricing. The OptBlue program provides an alternative for eligible small merchants who might prefer to deal with one acquirer for all their card acceptance needs. OptBlue acquirers provide relevant merchant data back to the company so it could maintain its closed loop of transaction data. In 2015, the company announced the launch of OptBlue in Canada. GMS continues to expand various merchants that accept the company’s cards, as well as the kinds of businesses that accept the card to address Card Member needs. Competition The company’s global card network competes in the global payments industry with other card networks, including among others, Visa, MasterCard, Discover (primarily in the United States), Diners Club International (which is owned by Discover Financial Services) and JCB and China UnionPay (primarily in Asia). Regulation As the operator of a general-purpose card network, the company is also subject to certain provisions of the Bank Secrecy Act, as amended by the Patriot Act. As a service provider to regulated U.S. banks, the company’s GNS business is subject to review by certain federal banking regulators, including the Federal Reserve, the FDIC and the OCC. Corporate & Other Corporate & Other consists of corporate functions and certain other businesses, including the company’s prepaid services business (which offers stored value/prepaid products, such as American Express Serve, Bluebird, the American Express Gift Card and Travelers Cheques), LoyaltyEdge and the company’s foreign exchange services. History American Express Company was founded in 1850. The company was incorporated in 1965 as a New York corporation.
american express co
(AXP:New York Consolidated)
200 Vesey Street
New York, NY 10285
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