American Express: cards issued and profits
American Express reported that its processed worldwide network services volume (spending on third-party-issued American Express cards) was $220.5 billion in 2023, a year-over-year increase of 2.8 percent.
At the end of 2023, the company had 61.0 million cards in force issued by third parties worldwide, 8 percent more than at the end of 2022.
With revenue growth of 14.5 percent year-over-year in 2023, to $60.515 billion, American Express is a U.S.-based multinational financial services corporation.
American Express
The company is best known for its credit card, charge card and traveler’s check businesses.
Its net earnings also grew at an annual rate of 11.4% to $8.374 billion in 2023.
The company operates a payments network through which it establishes and maintains relationships with third-party banks and other institutions in approximately 110 countries and territories, licensing the American Express brand and expanding the reach of its global network.
These network partners are licensed to issue American Express-branded cards in local currency in their countries and/or act as acquiring merchants for local merchants in their network.
The company operates a payments network through which it establishes and maintains relationships with third-party banks and other institutions in approximately 110 countries and territories, licensing the American Express brand and extending the reach of its global network.
These network partners are licensed to issue American Express-branded cards in local currency in their countries and/or act as acquiring merchants for local merchants in their network.
Services
American Express operated a payments network with third-party banks and other institutions in approximately 110 countries and territories at the end of 2023, 7 more compared to a year earlier.
Its various products and services are offered globally to diverse customer groups through a variety of channels, including mobile and online applications, affiliate marketing, customer referral programs, third-party service providers and business partners, direct mail, telephone, inside sales teams and direct services.
The company is primarily engaged in businesses comprising four reportable operating segments: U.S. Consumer Services (USCS), Commercial Services (CS), International Card Services (ICS) and Global Merchant and Network Services (GMNS).
Corporate functions and certain other businesses are included in Corporate and Other.
While American Express is widely accepted, it may not be as universally accepted as Visa or Mastercard, particularly in certain regions or smaller businesses.
