American Express Payment System
Before talking about the advantages of credit cards of this payment system, it will be useful for the reader to find out what it is all about and what are its differences from the two main market “monsters”. It is interesting that initially American Express is a company for the transportation of valuable cargoes, founded in 1850. But this direction helped the development of the brand in the future. Traveling around the world, employees of the company were the first to see the demand for remote use of money. Therefore, in 1891 the first traveler’s check AmEx was issued. Traveler’s checks were for a long time the main priority of the American organization, and even now American Express is associated with many customers. More than 100 years it took the system to come to the "plastic" as we know it now. It is alleged that the first customer to receive an AmEx credit card was in 1958. Elvis Presley. The direction has evolved. Moreover, the main philosophy of the company remains the same now, it is to work on quality, not quantity.
Apparently, something in this idea alerted the main competitors, because there was a period when Visa and MasterCard prohibited their member banks from cooperating with American Express.
For a long time, AmEx payment cards have been positioned as a product designed exclusively for travelers. But after the company began to actively develop and attract TSE (trade and service enterprises) around the world to its side, giving customers a chance to get discounts, various categories of customers became interested in AmEx cards.
Currently, American Express is recognized as one of the most expensive global brands. These credit cards are quite expensive instruments, designed for wealthy people. The service level is appropriate.