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Topic: American Express Introduction American Express is into the business of helping consumers and businesses making purchases by using American Express payment, travel and expense management solutions for people and businesses of varied sizes by selling personal cards, small business cards, corporate cards, and prepaid cards.
In business segment, American Express offers options to small business, merchants, and corporations, providing them powerful applications to run small business, card programs and solutions to corporations, and a host of other various merchant products such as merchant accounts and marketing etc. Broadly speaking, customer segment of American Express can be divided into 5 categories, which include U.S. Card Services, International Card Services, Global Network and Merchant Services, Global Commercial, and Corporate & Other services. The customer base of American Express is worldwide; it serves the market wherever it is providing its services through its workforce strength of 58,300 employees (American Express, 2011). American Express is a multi-product firm competing in the financial industry segment with annual revenue of $24.5 billion. Its Cards-in-force are 87.9million in number, and total assets $124 billion. The annual purchase volume of American Express Cards is $620 billion (American Express, 2011). Stock market performance in the NYSE of the American Express for the first-quarter has been declared to the tune of $1.2 billion in net revenue, which is an increase of 33% from 885 million a year back, as reported on 20 April 2011. Diluted income per share was $0.97, recording an increase of 33 percent from $0.73% one year back. ...
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