When most people hear the name American Express Company, think of a credit card. What I don’t know is that, long before exhibited, American Express credit card company, made his name, there are express delivery company of the United States of America, carrying packages across the country. Although today it is one of the world’s largest global payments company with presence in over 130 countries, has its origin with financial matters.
American Express (Amex) began in New York in the 1950s, a time when many East coasters move West. United States postal service was slow, expensive and unreliable (sometimes the goods were lost or stolen) It’s not everywhere to communicate; and only format envelope letter. Unlikely to meet the needs of a growing nation and the climate was ripe for something new. Take this opportunity to express, companies started several entrepreneurs who, in the United States, as he grew up with Stagecoach drivers and drivers of an integral, West connects all types of packages from the eastern part of the city to grow. American Express became known as the best of these companies.
After realizing that his biggest customer base was limited, Amex Bank services into smaller packages. Due to the small size and easy to transport, provision of financial packages such as certificates and currency notes for banks turned a good profit. The company started its financial products, the introduction of payment orders in 1882 and travellers ‘ cheques in 1891, with great success. These efforts have led to financial relations with many European banks. American Express name was opened in 1895 and his first around Europe’s headquarters in Paris. Office in London over the next year, and in 1910, the offices are located in Southampton, Liverpool, Hamburg, Berlin, Bremen, Antwerp, Rotterdam, Copenhagen, Naples and Genoa.
History, evolution in response to changing times and events on the world scene is a company. When American Express in Europe grew, millions of Europeans began a new life in America. Iceland applies for immigrants Ellis Exchange, but there were no official currency. Independent moneychangers immigrants, 1905, the American Express currency exchange, Ellis Island Immigration Department official asked the United States.
Ten years later Amex accidentally in business travel experience of the first world war. In the summer of 1914, 150 thousands of American tourists in Europe are stranded. He was stopped, in honor of credit banks, many of these foreign tourists did not have access to money and no way home. American Express offices in Europe, assistance, traveler’s checks and money orders, cash, so that Americans could organize a trip in the States. AMEX and nine banks at 10 million United States dollars, which are then sent to gold in Europe, so that local banks, foreign projects. This allowed the remaining American travelers book passage home. American Express business travel in 1915 and was soon offering tours worldwide. After the war, the ship completed in 1922, American Express and the first circumnavigation ever. As a result, the company became known for Luxury travel.
In 1929 the stock market crashed, and because it does not technically Bank, American Express is not closed during the holidays the three days that followed the Bank. Once again was able to fill a gap in the provision of banking services. The company had sufficient cash reserves, all cheques and money to win and can even money from other banks that have been issued by the business. Although in the 1930s were difficult, the company said.
His experience in WWI allows Amex to explore and experience tests of the second world war, and its European affiliates actually open until the last moment in countries need to be filled. In England’s top military and diplomatic allies helped evacuate as British children.