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Summer Training Report

On
Retail Sales & Promotion of Credit Cards
AT

Submitted to
Institute of Business Management & Research

In partial fulfilment of the requirement for the award of the degree of


Master of Business Administration
2012-2014
Submitted By
Anand Khadka

Acknowledgement

This project entitled RETAIL SALES in AMERICAN EXPRESS.

is the

outcome of the research conducted in partial fulfillment of Master of Business Management


Curriculum.
I would like to express my sincere thanks to Prof. Director, (IIBR) for their support
and co-operation.
I owe a deep sense of gratitude to my project guide, Prof.

for his valuable

guidance & encouragement which enabled me to complete this project successfully.


I would also like to sincerely thank all faculty members of MBA, (IIBR) for their
valuable guidelines.
I would also like to thank all the other employees of AMERICAN EXPRESS who
have largely contributed to completion of this project.

Date:
Place: Pune

TABLE OF CONTENTS

Chapter

Description

Cover Page
Certificates
Acknowledgement
1
2
3
4

Introduction
History
Company Profile
Review of Literature

5
6
7

Merger Acquisition & Business Growth


Vision, Mision & Values
Research Methodology

Data Analysis Findings & Conclusion

Suggestions & Recommendations


Bibliography
Annexure

Page No.

Evaluation Sheet-Summer Project

Name of the student Mr. /Ms __________________________________________

Course

__________________________________________

Roll No.

__________________________________________

Kindly rate on the scale of 0 to 10, where 0 is for minimum & 10 is for maximum rating

Attendance -

Efforts-

Attitude-

Adherence to the rules & guideline of organizationSubject knowledge-

Usefulness of the project to your organization-

Your Suggestion /recommendation (if any)- _________________________________

Signature of the External Guide-

Name

______________________________________

Designation ______________________________________

Contact No.,E-mail Id. _______________________________

Stamp of the organization

AMERICAN EXPRESS
Introduction
American Express Company (American Express) is a global service company. Its principal
products and services are charge and credit payment card products and travel-related services
offered to consumers and businesses worldwide. The Company operates in four segments: U.S.
Card Services, International Card Services, Global Commercial Services (GCS) and Global
Network & Merchant Services (GNMS). Corporate functions and auxiliary businesses, including
the Company's Enterprise Growth Group, publishing business and other company operations, are
included in Corporate & Other. American Express and its principal operating subsidiary,
American Express Travel Related Services Company, Inc. (TRS), are bank holding companies.
During 2011, American Express completed the integration of Accertify Inc. During 2011, it
acquired a controlling interest in Loyalty Partner, which is a marketing services company
operating in Germany, Poland and India.
American Express is the only company with a strong, global presence across the entire payments
chain.

We are the worlds largest card issuer, the premium network for high-spending cardmembers, a
processor of millions of transactions daily, and a partner that provides business-building services
to a worldwide merchant base.

Having this horizontal scale across payments gives us diverse opportunities to grow our business
and drive innovation in the marketplace. Its also a gateway to a broader array of services that
further differentiate American Express.

Our direct relationships with many millions of consumers, businesses and merchants worldwide - combined with our leading-edge marketing, information management and rewards capabilities - enable us to offer an array of valuable services that enrich lives, build business success,
encourage financial responsibility, and create communities of people with common interests.
This is what makes American Express a unique, and uniquely powerful, services company.

Each day, American Express makes it easier, safer and more


rewarding for consumers and businesses to purchase the things
they need

and for merchants to sell their goods and services. An engine of commerce, American Express
provides innovative payment, travel and expense management solutions for individuals and businesses of all sizes.
Most of all, we help our customers realize their dreams and aspirations through industry-leading benefits, access to
unique experiences, business-building insights, and global customer care. We enable our customers to do more and
achieve more.

History of the company

American Express was started as an express mail business in Buffalo, New York, in 1850. It was
founded as a joint stock corporation by the merger of the express companies owned by Henry
Wells (Wells & Company), William G. Fargo (Livingston, Fargo & Company), and John Warren
Butterfield (Wells, Butterfield & Company, the successor earlier in 1850 of Butterfield, Wasson
& Company). The same founders also started Wells Fargo & Co. in 1852 when Butterfield and
other directors objected to the proposal that American Express extend its operations to
California.
American Express first established its headquarters in a building at the intersection of Jay Street
and Hudson Street in what was later called the Tribeca section of Manhattan. For years it
enjoyed a virtual monopoly on the movement of express shipments (goods, securities, currency,
etc.) throughout New York State. In 1874, American Express moved its headquarters to 65
Broadway in what was becoming the Financial District of Manhattan, a location it was to retain
through two buildings.

American Express buildings


In 1854, the American Express Co. purchased a lot on Vesey Street in New York City as the site
for its stables. The company's first New York headquarters were in an impressive marble
Italianate palazzo at 5561 Hudson Streetbetween Thomas Street and Jay Street (185758, John
Warren Ritch), which had a busy freight depot on the ground story with a spur line from
the Hudson River Railroad. A stable was constructed nearby at 48 Hubert Street, between
Hudson Street and Collister Street (186667, Ritch & Griffiths), five blocks north of the Hudson
Street building.
The company prospered sufficiently that headquarters were moved in 1874 from the wholesale
shipping district to the budding Financial District, and into rented offices in two five-story
brownstone commercial buildings at 63 and 65 Broadway, between Exchange Alley and Rector
Street, and between Broadway and Trinity Place that were owned by the Harmony family.[12]
In 1880, American Express built a new warehouse behind the Broadway Building at 46 Trinity
Place, between Exchange Alley and Rector Street. The designer is unknown, but it has a faade
of brick arches that are redolent of pre-skyscraper New York. American Express has long been
out of this building, but it still bears a terracotta seal with the American Express Eagle.[13] In
189091 the company constructed a new ten-story building by Edward H. Kendall on the site of
its former headquarters on Hudson Street.

By 1903, the company had assets of some $28 million, second only to the National City Bank of
New York among financial institutions in the city To reflect this, the company purchased the
Broadway buildings and site.

At the end of the Wells-Fargo reign in 1914, an aggressive new president, George Chadbourne
Taylor (18681923), who had worked his way up through the company over the previous thirty
years, decided to build a new headquarters. The old buildings, dubbed by the New York
Times as "among the ancient landmarks" of lower Broadway, were inadequate for such a rapidly
expanding concern. In March 1914, Renwick, Aspinwall & Tucker filed for the construction of a
32-story concrete-and steel-framed office tower in which all of the company's operations, then in
four separate buildings, were to be consolidated. The building proposal of 1914 was abandoned,
probably due to the war in Europe, but was resurrected two years later in a reduced form, at an
estimated cost of $1 million.

The 21-story (plus basement), neo-classical, American Express Co. Building, was constructed in
191617 to the design of James L. Aspinwall, of the firm of Renwick, Aspinwall & Tucker, the
successor to the architectural practice of the eminent James Renwick, Jr.. The building
consolidated the two lots of the former buildings with a single address: 65 Broadway. This
building was part of the "Express Row" section of lower Broadway at the time. The concreteand-steel-framed building has an H-shaped plan with tall slender wings arranged around central
light courts, a type of plan employed from the 1880s through the 1910s to provide offices with
maximum light and air. Faced in white brick and terra cotta above a granite base, both facades
employ the tripartite composition of base-shaft-capital then popular for the articulation of
skyscrapers, with a colonnaded base and upper portion. The famous American Express Eagle
adorns the building twice: there is an asymmetric eagle on the lower arch, while a symmetric
eagle adorns the arch atop the building. The Broadway entrance features a double-story
Corinthian colonnade with large arched windows. The building completed the continuous
masonry wall of its block-front poda nae and assisted in transforming Broadway into the
"canyon" of neo-classical masonry office towers familiar to this day[14]
American Express sold this building in 1975, but retained travel services here. The building was
also the headquarters over the years of other prominent firms, including investment bankers J.&

W. Seligman & Co. (194074), the American Bureau of Shipping, a maritime concern (1977
86), and currently J.J. Kenny, and Standard & Poor's, who has renamed the building for itself.

Nationwide expansion
American Express extended its reach nationwide by arranging affiliations with other express
companies (including Wells Fargo the replacement for the two former companies that merged
to form American Express), railroads, and steamship companies.
Financial services.
In 1882, American Express started its expansion in the area of financial services by launching
a money order business[11] to compete with the United States Post Office's money orders.
Sometime between 1888 and 1890, J. C. Fargo took a trip to Europe and returned frustrated and
infuriated. Despite the fact that he was president of American Express and that he carried with
him traditional letters of credit, he found it difficult to obtain cash anywhere except in major
cities. Fargo went to Marcellus Flemming Berry and asked him to create a better solution than
the traditional letter of credit. Berry introduced the American Express Traveler's Cheque which
was launched in 1891 in denominations of $10, $20, $50, and $100.[15]
Traveler's cheques established American Express as a truly international company. In 1914, at
the outbreak of World War I, American Express offices in Europe were among the few
companies to honor the letters of credit (issued by various banks) held by Americans in Europe,
despite other financial institutions having refused to assist these stranded travelers.

Loss of railroad express business


American Express became one of the monopolies that President Theodore Roosevelt had
the Interstate Commerce Commission investigate during his administration. The interest of the
ICC was drawn to its strict control of the railroad express business. However, the solution did not
come immediately to hand.[11] The solution to this problem came as a coincidence to other
problems during World War I.
During the winter of 1917, the US suffered a severe coal shortage and on December
26 President Woodrow Wilson commandeered the railroads on behalf of the US government to
move US troops, their supplies, and coal. Treasury Secretary William Gibbs McAdoo was
assigned the task of consolidating the railway lines for the war effort. All contracts between
express companies and railroads were nullified and McAdoo proposed that all existing express
companies be consolidated into a single company to serve the country's needs. This ended

American Express's express business, and removed them from the ICCs interest. The result was
that a new company called the American Railway Express Agency formed in July 1918. The new
entity took custody of all the pooled equipment and property of existing express companies (the
largest share of which, 40%, came from American Express, who had owned the rights to the
express business over 71,280 miles (114,710 km) of railroad lines, and had 10,000 offices, with
over 30,000 employees).

Investment banking
During the 1980s, American Express embarked on an effort to become a financial services
supercompany and made a number of acquisitions to create an investment banking arm. In mid1981 it purchased Sanford I. Weill's Shearson Loeb Rhoades, the second largest securities firm
in the United States to form Shearson/American Express.

After the purchase of Shearson, Weill was given the position of president of American Express
in 1983. Weill grew increasingly unhappy with responsibilities within American Express and his
conflicts with American Express' CEO James D. Robinson III. Weill soon realized that he was
not positioned to be named CEO and left in August 1985. In 1984, American Express acquired
the investment banking and trading firm, Lehman Brothers Kuhn Loeb, and added it to the
Shearson family, creating Shearson Lehman/American Express. It was Lehman's CEO and
former traderLewis Glucksman who would next lead Shearson Lehman/American Express.
In 1984 Shearson/American Express purchased the 90-year-old Investors Diversified Services,
bringing with it a fleet of financial advisors and investment products. In 1988, Shearson Lehman
acquired E.F. Hutton & Co., a brokerage firm founded in 1904, this was merged with the
investment banking business and the investment banking arm was renamed Shearson Lehman
Hutton, Inc.[16]
However, when Harvey Golub became CEO of American Express in 1993, American Express
decided to get out of the investment banking business and negotiated the sale of Shearson's retail
brokerage and asset management business to Primerica. The Shearson business was merged with
Primerica's Smith Barney to create Smith Barney Shearson. Ultimately, the Shearson name was
dropped in 1994.[17]

In 1994, American Express spun off of the remaining investment banking and institutional
businesses as Lehman Brothers Holdings Inc which after almost fifteen years of independence
would file for bankruptcy protection in 2008 as part of the Late-2000s financial crisis.

Recent history
Current CEO Ken I. Chenault took over leadership of American Express in 2001 from Harvey
Golub, CEO from 1993 to 2001. Prior to that, the company was headed by James D. Robinson
III from 1977 to 1993.

Charge card services

American Express Tower (tallest, left) in New York City


American Express executives discussed the possibility of launching a travel charge card as early
as 1946, but it was not until Diners Clublaunched their card in March 1950 that American
Express began to seriously consider the possibility. At the end of 1957, American Express
CEO Ralph Reed decided to get into the card business, and by the launch date of October 1, 1958
public interest had become so significant that they issued 250,000 cards prior to the official
launch date. The card was launched with an annual fee of $6, $1 higher than Diners Club, to be
seen as a premium product. The first cards were paper, with the account number and
cardmember's name typed. It was not until 1959 that American Express began issuing
embossed ISO/IEC 7810 plastic cards, an industry first.
In 1966, American Express introduced the Gold Card and in 1984 the Platinum Card, clearly
defining different market segments within its own business, a practice that has proliferated across
a broad array of industries. The Platinum Card was billed as super-exclusive and had a $250
annual fee (it is currently $450). It was offered by invitation only to American Express customers

with at least 2 years of tenure, significant spending, and excellent payment history; it is now
open to applications on request.
In 1987, American Express introduced the Optima card, their first credit card product.
Previously, all American Express cards had to be paid in full each month, but Optima allowed
customers to carry a balance (the charge cards also now allow extended payment options on
qualifying charges based on credit availability). Although American Express no longer accepts
applications for the Optima brand of cards, since July 13, 2009, Optima cards are still listed on
the American Express website, as a reference to existing members only. According to American
Express, Optima accounts were not converted or closed. However, Blue from American Express
has prevailed as the replacement for the original Optima style of credit card. Blue includes
multiple benefits free of charge, unlike Optima, including the Membership Rewards program. In
October 2012, The Consumer Financial Protection Bureau (CFPB) announced an enforcement
action with orders requiring three American Express subsidiaries to refund an estimated $85
million to approximately 250,000 customers for illegal card practices. This action was the result
of a multi-part federal investigation which found that at every stage of the consumer experience,
from marketing to enrollment to payment to debt collection, American Express violated
consumer protection laws. American Express did send letters to some previous customers: "We
invite you to apply for the Optima Card from American Express. This opportunity is in
connection with a settlement solicitation, which did not clearly disclose that a settlement could
prevent you from being approved for a new account with us in the future. This is in response to
an enforcement action by the Federal Deposit Insurance Corporation and Consumer Financial
Protection Bureau regarding this issue. Your attached application will be approved unless we
determine that you do not have the financial capacity to make the minimum payment on this new
Optima Card account, or we receive the application after 04/25/2013."
In April 1992, American Express spun off its subsidiary, First Data Corp., in an IPO. Then, in
October 1996, the company distributed the remaining majority of its holdings in First Data
Corp., reducing its ownership to less than 5%.
In 1994, the Optima True Grace card was introduced. The card was unique in that it offered
a grace period on all purchases whether a balance was carried on the card or not (as opposed to
traditional revolving credit cards which charge interest on new purchases if so much as $1 was
carried over). The card was discontinued a few years later; the now discontinued One from
American Express card offered a similar feature called "Interest Protection."

"Boston Fee Party


From early 1980s until the early 1990s, American Express was known for cutting its merchant
fees (also known as a "discount rate") to merchants and restaurants if they accepted only
American Express and no other credit or charge cards. This prompted competitors such
as Visa and MasterCard to cry foul for a while as the tactics "locked" restaurants into American
Express. The practice ended in 1991, as several restaurants in Boston started accepting and
encouraging the use of Visa and MasterCard because of their far lower fees as compared to
American Express' fees at the time (which were about 4% for each transaction versus around
1.2% at the time for Visa and MasterCard). A few even stopped accepting American Express
credit and charge cards. The revolt, known as the "Boston Fee Party" (in reference to the Boston

Tea Party), was orchestrated by a PR firm hired and paid by Discover Card. The campaign
spread to over 250 restaurants across the United States, including restaurants in other cities such
as New York City, Chicago, and Los Angeles. In response, American Express reduced its
discount rate gradually to compete more effectively and add new merchants such as
supermarkets and drugstores to its network. Many elements of the exclusive acceptance program
were also phased out and American Express pursued other programs to effectively encourage
businesses to add American Express cards to their existing list of payment options.

Cable TV
American Express formed a joint venture with Warner Communications in 1979 called WarnerAmex Satellite Entertainment, which created MTV, Nickelodeon, and The Movie Channel. The
partnership lasted only until 1984. The properties were sold to Viacom soon after.

Conversion to bank holding company


On November 10, 2008, during the financial crisis of 2008, the company won Federal Reserve
System approval to convert to a bank holding company, making it eligible for government help
under the Troubled Asset Relief Program.[18][19] At that time, American Express had total
consolidated assets of about $127 billion.[19] In June 2009, $3.39 billion in TARP funds were
repaid plus $74.4 million in dividend payments, and in July 2009 they ended their obligations
under TARP by buying back $340 million in Treasury warrants.[20][21][22]
Controversy in the UK
In November 2010 the UK division of American Express was cautioned by the Office of Fair
Trading for the use of controversial charging orders against those in debt.[23] The regulator said
that the company was one of four companies who were encouraging customers to turn their
unsecured credit card debts into a form of secured debt.
Loyalty acquisition
In March 2011, American Express completed a $685m purchase of Loyalty Partner, which
operates the Payback loyalty program in Germany and Poland, and the i-Mint loyalty program in
India.[24]
Business model

Typical credit card business model


When a consumer makes a purchase using a credit or charge card, a small portion of the price is
paid as a fee (known as the merchant discount), with the merchant keeping the remainder. There
are typically three parties who split this fee amongst themselves:

1. Acquiring bank: the bank which processes credit card transactions for a merchant,
including crediting the merchant's account for the value charged to a credit card less all
fees.
2. Issuing bank: the bank which issues the consumer's credit card. This is the bank a
consumer is responsible for repaying after making a credit card purchase. The issuer's
share of the merchant discount is known as the interchange fee.
3. Network: the link between acquiring banks and issuing banks. These banks have
relationships with a network, rather than with each other, for fulfilling card purchases.
This allows a card issued by a community bank in Peru to be used at a shop in South
Africa, for instance, without requiring the banks to have a direct relationship with each
other. The two largest networks in the world are Visa and MasterCard. American
Express operates its own network.
The average merchant discount in the United States is 1.9%. Of this, approximately 0.1% goes to
the acquirer, 1.7% to the issuer, and 0.09% to the network.[25]
Most Prime and Superprime card issuers use the majority of their interchange revenue to
fund loyalty programs like frequent flyer points and cash back, and hence their profit from card
spending is small relative to the interest they earn from card lending.

Card products
Consumer cards

The cards
See also: Centurion Card, American Express Red, and ExpressPay
American Express is best known for its iconic Green, Gold, and Platinum charge cards, and
offers credit cards of similar color levels in most countries.

In the 1950s, American Express issued its first credit card, which caught on quickly in the
booming postwar economy and signaled the company's transition to a wider consumer base. In
1966, the company issued its first gold card, in an effort to cater to the upper echelon of business
travel. Its platinum card debuted in 1984 and continues to be immensely popular as it is second
in exclusivity only to the Centurion Card.
In 1999, American Express introduced the Centurion Card, often referred to as the "black card,"
which caters to an even more affluent and elite customer segment. The card was initially
available only to select users of the Platinum card. The annual fee for the card is $2,500 (up from
$1,000 at introduction) with an additional one-time initiation fee of $5,000. American Express
created the card line amid rumors and urban legends in the 1980s that it produced an ultraexclusive black card for elite users who could purchase anything with it.[26]
American Express cards range between no annual fee (for Blue and many other consumer and
business cards) and a $450 annual fee (for the Platinum card). Annual fees for the Green card
start at $95 (first year free), while Gold card annual fees start at $125.
American Express has several co-branded credit cards, with most falling into one of three
categories:

Airlines:
e.g., Aerolineas
Argentinas, Air
Canada, Air
France, Alitalia, British
Airways, Cathay Pacific, Delta Air Lines, JetBlue Airways, Qantas, Scandinavian
Airlines,Singapore Airlines, Virgin Atlantic, among others.
Hotels: e.g., Hilton Hotels. Starwood Hotels & Resorts Worldwide
Retailers:
e.g., Costco, David
Jones, Holt
Renfrew, Harrods, Macys, Bloomingdales, Lowe's, Mercedes Benz, and others.

Their card aimed at young adults is called Blue from American Express. A television media
campaign for Blue adopted the 1979 UK Synthpop hit "Cars" by Gary Numan as itstheme song.
Based on a successful product for the European market, Blue had no annual fee, a rewards
program, and a multi-functional onboard smart chip. A cashback version, "Blue Cash", quickly
followed. Amex also targeted young adults with City Reward Cards that earn INSIDE Rewards
points to eat, drink, and play at New York, Chicago and LA hot spots. American Express began
phasing out the INSIDE cards in mid-2008, with no new applications being taken as of July
2008.
In 2005, American Express introduced Clear, advertised as the first credit card with no fees of
any kind. Also in 2005, American Express introduced One, a credit card with a "Savings
Accelerator Plan" that contributes 1% of eligible purchases into a High-Yield Savings
Account insured by the Federal Deposit Insurance Corporation. Other cards introduced in 2005
included "The Knot" and "The Nest" Credit Cards from American Express, co-branded cards
developed with the wedding planning website theknot.com.
In 2006, the UK division of American Express joined the Product Red coalition and began to
issue a Red Card. With each card member purchase the company contributes to causes
through The Global Fund to Fight AIDS, Tuberculosis and Malaria to help African women and
children suffering from HIV/AIDS, malaria, and other diseases.

In 2009, American Express introduced the ZYNC charge card. White in color, this card was
created for people in their 20s and 30s. American Express is no longer taking applications for the
ZYNC charge card.
In late 2012, American Express and Walmart announced the launch of Bluebird, a prepaid debit
card similar to that of Green Dot.[27] Bluebird is being touted as having lower fees than other
prepaid debit cards with some of the benefits of traditional American Express cards, such
as roadside assistance and identity theft protection. The card can also be used as a substitute to a
traditional checking account. Unlike other such cards, Bluebird is FDIC-insured.[28] FDIC
backing means Bluebird accounts now have deposit insurance, check writing capabilities and
customers can now have Social Security checks, military pay and other government benefits
deposited directly into their accounts.
Card design
The company mascot, the Roman Gladiator or Centurion, appears at the center of the iconic
Zync, Green, Gold, Platinum, and Centurion cards. The figure and his pose evokeclassical
antiquity. These cards also feature intricate border and background designs that read "American
Express." The unique designs on these cards, especially the Green card, bear resemblance to
those on United States Federal Reserve Notes, and enhance the image of the cardholder as an
affluent and conspicuous consumer.
ExpressPay
In 2005, American Express introduced ExpressPay, similar to MasterCard PayPass and
Visa payWave. It is a contactless payment system based on wireless RFID, where transactions
are completed by holding the credit card near a receiver at which point the debt is immediately
added to the account. The card is not swiped and no PIN is entered. Many U.S. merchant and
restaurant partners now offer ExpressPay, including Meijer, CVS/Pharmacy, Best Buy, Chevron
Corporation, Noah's Bagels, and some McDonald'slocations. Office Depot has implemented
ExpressPay in all 1200 of its stores.[29]
Small business services (also known as American Express OPEN)
For more details on this topic, see American Express Plum Card.
American Express offers various types of charge cards for small businesses to manage their
expenses, and the company is also the largest provider of corporate cards.
In late 2007, the company announced the new Plum Card as the latest addition to their card line
for small business owners.[30] The card provides a 1.5% early pay discount or up to two months
to defer payment on purchases. The 1.5% discount is available for billing periods where the
cardmember spends at least $5,000. The first 10,000 cards were issued to members on December
16, 2007.[31]
In 2008, American Express made a decision to close all Business Line of Credit accounts. This
decision was reached in tandem with the Federal Reserve's approval of American Express's
request to become a Commercial Bank.
Commercial cards and services
American Express also offers a comprehensive range of cards designed to support mid-sized and
large companies manage their travel and day-to-day operational expenses. The core product, the

American Express Corporate Card is offered in over 40 countries, and a number of


complementary products for specific types of spending are offered for special needs. Examples
of these products include the Corporate Meeting Card, the Corporate Purchasing Card, and the
Business Travel Account. Commercial Cards differ from Business Cards as they enable company
liability (business cards are issued as extensions of credit to the company's owner). In addition,
Commercial Cards offer a comprehensive suite of data and reporting solutions that help clients
gain visibility and control over employee expenditures.
As part of supporting Corporate clients, American Express offers a number of online solutions
delivered through the American Express @ Work website. From American Express @ Work,
clients have access to program management capabilities, online statements, reporting and data
integration products. Information @ Work, a reporting tool targeted at mid-size companies to
give them quick and easy access to their employees' spend data; Customized Reporting is
provided to larger clients who require more advanced analytics and data consolidation
capabilities. American Express also provides data files to clients to power expense reporting and
reconciliation tools.
In 2008, American Express acquired the Corporate Payment Services business of GE, which
primarily focused on providing Purchasing Card solutions for large global clients. [32] As part of
the $1b+ transaction, American Express also added a new product, called V-Payment, to its
product portfolio. V-Payment is unique in that it enables a tightly controlled, single-use card
number for increased control.
Non-proprietary cards
In December 2000, American Express agreed to acquire the US$226 million credit card portfolio
of Bank of Hawaii, then a division of Pacific Century Financial Corp.[33] In January 2006,
American Express sold its Bank of Hawaii card portfolio to Bank of America (MBNA). Bank of
America will issue Visa and American Express cards under the Bank of Hawaii name.
Until 2004, Visa and MasterCard rules prohibited issuers of their cards from issuing American
Express cards in the United States. This meant, as a practical matter, that U.S. banks could not
issue American Express cards. These rules were struck down as a result of antitrust litigation
brought by the U.S. Department of Justice, and are no longer in effect.[34] In January 2004,
American Express reached a deal to have its cards issued by a U.S.
bank, MBNA America.[35] Initially decried by MasterCard executives as nothing but an
"experiment", these cards were released in October 2004.[36] Some said that the relationship was
going to be threatened by MBNA's merger with Bank of America, a major Visa issuer and
original developer of Visa (and its predecessor, BankAmericard). However, an agreement was
reached between American Express and Bank of America on December 21, 2005.[37] Under the
terms of the agreement, Bank of America will own the customer loans and American Express
will process the transactions. Also, American Express will dismiss Bank of America from its
antitrust litigation against Visa, MasterCard, and a number of U.S. banks. Finally, both Bank of
America and American Express also said an existing card-issuing partnership between MBNA
and American Express will continue after the Bank of America-MBNA merger. The first card
from the partnership, the no-annual-fee Bank of America Rewards American Express card, was
released on June 30, 2006.
Since then, Citibank, GE Money, and USAA have also started issuing American Express cards.
Citibank currently issues several American Express cards including an American

Airlines AAdvantage co-branded card.[37] In January 2006[38] Amex issued Dillard's American
Express card in joint cooperation with GE Money, however, in Mar 2008[39] GE sold its card unit
to Amex for $1.1bn in cash only deal.[32] HSBC Bank USA is currently testing both HSBCbranded and Neiman Marcus co-branded American Express rewards credit cards, with a full
rollout scheduled for late 2007 or early 2008. Also, UBS launched its Resource Card program for
US Wealth Management clients issuing Visa Signature credit cards and American Express
charge cards linked to their customers accounts and employing a single rewards program for the
two cards. Fidelity operates a similar program, issuing both American Express and Visa
Signature cards through FIA Card Services.[40]
Non-card products

Traveler's checks
Amex is the largest provider of traveler's checks in the world.
In 2005, American Express released the American Express Travelers Check Card, a stored-value
card that serves the same purposes as a traveler's check, but can be used in stores like a credit
card. The card has since been discontinued as of October 31, 2007, due to "changing market
conditions". All cardholders were issued refund checks for the remaining balances.
Shearson/American Express
See also: Shearson/American Express

Shearson/American Express logo c. 1982


During the 1980s, American Express began purchasing stock brokerage firms as part of an
expansion. In mid-1981 it purchased Sanford I. Weill's Shearson Loeb Rhoades, the second
largest securities firm in the United States to form Shearson/American Express. Shearson Loeb
Rhoades, itself was the culmination of several mergers in the 1970s as Weill's Hayden, Stone &
Co. merged with Shearson, Hammill & Co. in 1974 to form Shearson Hayden Stone. Shearson
Hayden Stone then merged with Loeb, Rhoades, Hornblower & Co. (formerly Loeb, Rhoades &
Co. to form Shearson Loeb Rhoades in 1979. With capital totalling $250 million at the time of its
acquisition, Shearson Loeb Rhoades trailed only Merrill Lynch as the securities industry's
largest brokerage firm. After its acquisition by American Express, the firm was renamed
Shearson/American Express.
In 1984 Shearson/American Express purchased the 90-year-old Investors Diversified Services,
bringing with it a fleet of financial advisors and investment products. Also in 1984, American
Express acquired the investment banking and trading firm, Lehman Brothers Kuhn Loeb, and
added it to the Shearson family, creating Shearson Lehman/American Express. In 1988, the firm
acquired E. F. Hutton & Co., forming Shearson Lehman Hutton until 1990, when the firm's name

became Shearson Lehman Brothers. When Harvey Golub took the reins in 1993 he negotiated
the sale of Shearson's retail brokerage and asset management business to Primerica and in
following year, spun off of the remaining investment banking and institutional businesses
as Lehman Brothers Holdings Inc.
Financial advisors
On September 30, 2005, American Express spun off its American Express Financial Advisors
unit as a publicly traded company, Ameriprise Financial, Inc..[41] Due to this, American Express
revenues for 2005 are down around $5 billion, however, like-for-like they are up 10.5% in 2005.
Also, on September 30, 2005, RSM McGladrey acquired American Express Tax & Business
Services (TBS).[41]
On September 18, 2007, Standard Chartered Bank agreed to acquire American Express Bank
Ltd, a commercial bank, from American Express Co,[42] for an estimated US$823 million,
through a friendly divestiture process.[43][44][45][46][47]

Travel
American Express established a Travel Division in 1915 that tied together all of the earlier
efforts at making travel easier, and soon established its first travel agencies. In the 1930s, the
Travel Division had grown widely. Albert K. Dawson was instrumental in expanding business
operations overseas, even investing in tourist relations with the Soviet Union. Dawson during
World War I had been a photographer and film correspondent with the German army. Today the
focus of The Travel Division is on business customers and business travel.
Management Hierarchy
Key executives include:[4]

Kenneth Chenault: Chairman and Chief Executive Officer


Douglas E. Buckminster: President, International Consumer and Global Network Services
James Bush: Executive Vice President, World Service
Kevin Cox: Executive Vice President, Human Resources
Edward P. Gilligan: Vice Chairman
William H. Glenn: President, Global Corporate Payments and Business Travel
Ash Gupta: Chief Risk Officer and President, Risk and Information Management
John D. Hayes: Executive Vice President and Chief Marketing Officer
Daniel T. Henry: Executive Vice President and Chief Financial Officer
Louise M. Parent: Executive Vice President and General Counsel
Thomas Schick: Executive Vice President, Corporate and External Affairs
Daniel H. Schulman: Group President, Enterprise Growth
Joshua G. Silverman: President, U.S. Consumer Services
Stephen J. Squeri: Group President, Global Corporate Services
Anr Williams: President, Global Merchant Services

Current members of the board of directors of American Express are:[57]

Daniel F. Akerson: Managing Director of the Carlyle Group


Charlene Barshefsky: Former United States Trade Representative
Ursula M. Burns: President of Xerox Corporation
Kenneth I. Chenault: Chairman and CEO of American Express Co.
Peter Chernin: Former President and COO, News Corporation
Vernon E. Jordan, Jr.: Senior Managing Director with Lazard Freres & Co. LLC
Jan Leschly: CEO of Care Capital LLC
Richard C. Levin: President, Yale University
Richard A. McGinn: Former CEO of Lucent Technologies, Partner, RRE Ventures
Edward D. Miller: Former President and CEO of AXA SA
Frank P. Popoff: Former Chairman Chemical Financial Corp.
Steven S. Reinemund: Former Chairman and CEO, PepsiCo Inc.
Robert D. Walter: Chairman and CEO, Cardinal Health
Ronald A. Williams: Chairman and CEO, Aetna Inc.

American Express Cards


American Express Platinum Card

Card type- Charge Card


Annual fee- Rs.50,000 plus applicable taxes
Reward Earn Rate- 1 Membership Rewards Point for every
Rs.40 spent
Highlights- "Do Anything" Platinum Concierge
Platinum Travel Services to assist you with all your travel needs
'By Invitation Only' Events
Exclusive savings and benefits with the Airline Partner Programme
Complimentary access to over 1,000 airport lounges worldwide
Benefits across 700 FINE HOTELS & RESORTS properties worldwide
Complimentary membership to the Starwood Preferred Guest Gold Programme
Taste from Platinum - Fine Dining Programme at over 75 restaurants across India
Complimentary golf at 5 premium courses

Rewards Program
Exotic family vacations. Exquisite dining experiences. Exciting shopping privileges. With the touch
of Platinum, its a more rewarding life indeed.
Membership Rewards First Collection
Redeem your Rewards Points from a distinctive collection of Premium Partners , offering an array of luxury
Rewards.

Pay with Points


Turn your Membership Rewards Points into flights quickly and easily with just one call.
Membership Rewards Programme
Choose fabulous Rewards from over 600 redemption options.
Points Never Expire
You dont need to keep track of the expiry date on your Points, because these Points are for life!
10 Times Membership Rewards Points at select Platinum Partner outlets in India.

Offers and privilages


Whether its discovering new experiences while you travel, savouring the finest tastes from around
the world, or having every wish fulfilled, Platinum makes it all possible.
Platinum Travel
From access to premium airport lounges to exclusive privileges at the finest hotels, Platinum makes every
journey extraordinary.

Platinum Travel Services


Platinum Elite Tier Memberships
Airline Partner Programme
Fine Hotels & Resorts
Platinum Lodging
Platinum Experiences
From the glittering world of fashion to exquisite culinary journeys, every experience will bring new
delights.

'By Invitation Only' Events


Platinum Fine Dining programme
Taj Epicure Plus Membership
Platinum Golf
Platinum Wellness
Platinum Services
Experience the personalized standard of service that American Express is renowned for, across the world.

Platinum Concierge
Platinum Travel Services
24-hour Card Related Assistance
Global Assist
Travel Emergency Assistance
Home Assist
Platinum Protection

Eligibility
To save time before you apply for your Card, it's best to make sure you can say yes to the following:

I am over 18 years of age


I have a good credit history and no payment defaults

If self-employed, I have been trading for at least 18 months (or 12 months if I hold an existing American
Express issued Card).

American Express Platinum ReserveSMCredit


Card

Card type- Credit Card


Annual fee- Rs.10,000 plus applicable taxes
Reward Earn Rate- 1 Membership Rewards Point for
every Rs.40 spent

Highlights

Get a Welcome Gift 1 of 22,000 Bonus Membership Rewards Points


Get 1 Membership Rewards Point for every Rs.40 spent
Enjoy complimentary membership 2 to Priority Pass, with the US$99 annual membership fee waived
off exclusively for you
Get exclusive access to the luxurious American Express Platinum Lounges 2 at Delhi and Mumbai
Dosmestic Airports
Savour exciting dining privileges at Taj Hotels with complimentary membership 2 to Taj Epicure Plus
Enjoy complimentary golf 2 at 5 premier courses in India.

Reward Programes
Make a unique fashion statement or experience the finest that the world has to offer make it a more
rewarding life with the exquisite touch of Platinum.
Membership Rewards First Collection2
Redeem your Points for an array of stunning Rewards. Choose from a hand-picked selection of couture labels,
fabulous accessories, and extraordinary escapades.

10 Times Membership Rewards Points2


Shop at any select Platinum Partners in India and abroad and earn 10 Times Membership Rewards Points for every
Rs.40 charged to your Card.

Offers and privileges


From making your trips more luxurious than ever, to letting you embark on extraordinary culinary
journeys, Platinum brings you many special benefits.

Platinum Stays2
Platinum Gourmet Experiences2
Platinum Golf2
Platinum Wine2
Benefits from Platinum
Besides indulging yourself with exclusive privileges, you can also enjoy a range of benefits and
personalized service that is reserved for a select few.

Platinum Concierge3
Platinum Assist4

Welcome Everywhere
Additional & Supplementary Cards5

Eligibility
To save time before you apply for your Card, its best to make sure you can say yes to the following:

I am over 18 years of age


I have a Personal Annual Income of INR 9 Lacs and above (in case of Self Employed) & INR 15 Lacs and
above (in case of Salaried)
I have an Indian or multinational banks savings or current account in India
I have a permanent residential address in India
I have a good credit history and no payment defaults
If self-employed: My company has been trading for more than 12 months.

Jet Airways American ExpressPlatinum Credit Card

Card type- Credit Card


Annual fee- Rs.10,000 plus applicable taxes
Reward Earn Rate- 6 JPMiles for every Rs.100 spent

Highlights

Get a Welcome Gift1 of 20,000 Bonus JPMiles + one-way


complimentary Jet Airways Base Fare Waived Domestic Ticket2 on your first charge
Enjoy complimentary membership to the American Express Platinum Lounges at Delhi & Mumbai
Domestic Airports3
Earn 6 JPMiles per Rs.100 - the fastest ongoing JPMiles earn rate on all your spending, with no limit
on the JPMiles you can accumulate
Experience dedicated 24x7 Platinum Concierge Service
Pay in easy installments with the Pay-in-Parts Privilege.

Reward Program

From the moment you start using your Card, it starts making it a more rewarding journey for you.
Welcome Gift1: Get 20,000 Bonus JPMiles on the first charge on your Card + get a complimentary Jet
Airways Base Fare Waived Domestic Ticket2
Earn 6 JPMiles for every Rs.100 on all your regular spending
Earn 12 JPMiles per Rs.100 spent for revenue tickets booked on www.jetairways.com or
www.jetkonnect.com using your Jet Airways American Express Platinum Credit Card
Enjoy an accelerated earn rate of up to 15/20 JPMiles per Rs.100 on your spending atselect American
Express Platinum Partners 4.

Offers and Privilege

Besides helping you accumulate JPMiles at an incredible rate, your Jet Airways American Express
Platinum Credit Card also brings you a range of exclusive privileges.
Complimentary access to American Express Platinum Lounges at Delhi and Mumbai Domestic Airports 3
Enjoy complimentary membership5 to Priority Pass, with the US$99 annual membership fee waived off
exclusively for you
Enjoy Dedicated Check in6 & Excess Baggage Waiver6 of 10kg on Jet Airways and JetKonnect flights
within India.
Jet Airways & JetKonnect Privileges
Enjoy 5% discount7 on Base Fare for revenue ticket bookings made on jetairways.com or jetkonnect.com
Get 25% Base Fare discount8 on one Domestic Business Class Companion Ticket (valid till November 30,
2013).
Enjoy exclusive offers on travel, dining, shopping and entertainment around the world, with American
Express Global Selects.

Benefits from Platinum


Your Jet Airways American Express Platinum Credit Card entitles you to exclusive benefits and the
highest standard of personalized service that American Express is renowned for.

Platinum Concierge
Zero Lost Card Liability
Supplementary Cards

Eligibility
To save time before you apply for your Card, its best to make sure you can say yes to the following:

I am over 18 years of age


I have a personal annual income of INR 10 lacs or above (for both Salaried, Self Employed)
I have an Indian or multinational banks savings or current account in India
I have a permanent residential address in India
I have a good credit history and no payment defaults
If self-employed: My company has been trading for more than 12 months.

The American Express Platinum Travel Credit Card

Card type- Credit Card


Annual fee- Rs.5,000 plus applicable taxes

Reward Earn Rate- 1 Membership Rewards Point for every Rs.40 spent

Highlights

Welcome Gift1 of 5,000 Milestone Bonus Membership Rewards Points redeemable for IndiGo Vouchers
worth Rs.4000
Spend Rs.1.90 lacs in a year and get IndiGo Vouchers2 worth more than Rs.8000
Spend Rs.4 lacs in a year and additionally get IndiGo Vouchers2 worth more than Rs.12,5003. Also get a
voucher4 worth Rs.10,000 from the Taj Group
Enjoy complimentary membership5 to Priority Pass, with the US$99 annual membership fee waived off
Pay in easy installments with the 'Pay-in-Parts' privilege

Rewards Programme

Welcome Gift1 of 5000 Milestone Bonus Membership Rewards Points redeemable for IndiGo
Vouchers worth Rs.4,000
Spend Rs.1.90 lacs in a year and get IndiGo Vouchers2 worth more than Rs.8,000
On spending Rs.1.90 lacs in a year, earn 7,500 Spend Milestone Bonus Membership Rewards Points
redeemable for IndiGo Vouchers worth Rs.6,000
You also earn 1 Membership Rewards Point for every Rs.40 spent on the Card. On spending Rs.1.90 lacs in
a year, earn 4,750 Regular Membership Rewards Points redeemable for IndiGo Vouchers worth Rs.2,375
You can further accelerate your Regular Membership Rewards Points by 10 times and 5 times at
Membership Rewards partner merchants6. These points can be redeemed for additional IndiGo Vouchers
In case you don't want to redeem your rewards points for IndiGo Vouchers, you can redeem them by
choosing from over 600 other redemption options. The redemption value will vary depending upon the item
redeemed
Spend Rs.4 lacs in a year and additionally get IndiGo Vouchers2 worth more than Rs.125003
On spending Rs.4 lacs in a year, earn 10,000 Spend Milestone Bonus Membership Rewards Points
redeemable for IndiGo Vouchers worth Rs.10,000
You also earn 1 Membership Rewards Point for every Rs.40 spent on the Card. On spending Rs.4 lacs in a
year, you earn additional 5,250 Regular Membership Rewards Points redeemable for IndiGo Vouchers
worth Rs.2,625
You can further accelerate your Regular Membership Rewards Points by 10 times and 5 Times at
Membership Rewards partner merchants6. These points can be redeemed for additional IndiGo Vouchers
In case you don't want to redeem your rewards points for IndiGo Vouchers, you can redeem them by
choosing from over 600 other redemption options. The redemption value will vary depending upon the item
redeemed
Spend Rs.4 lacs in a year and get a voucher4 worth Rs.10000 from the Taj Group. This voucher will
be mailed to you once you reach the spend threshold of Rs.4 lacs
That's not all. You can continue to earn Membership Reward points on all your spending with the
American Express Platinum Travel Credit Card.

Offers and Privileges

Enjoy complimentary membership5 to Priority Pass, with the US$99 annual membership fee waived
off exclusively for you
American Express SelectsSM Dining Programme - Enjoy up to 20% discount7 at select premium
restaurants, multiple cuisines & more.
Benefits from Platinum
Enjoy a host of privileges and services that come with your American Express Card.

Supplementary Cards
Zero Lost Card Liability
PAY-IN-PARTS Privilege
Platinum Services

Eligibility
To save time before you apply for your Card, its best to make sure you can say yes to the following:

I am over 18 years of age


I have a personal annual income of INR 6 Lacs or above (for both Salaried, Self Employed)
I have an Indian or multinational banks savings or current account in India
I have a permanent residential address in India
I have a good credit history and no payment defaults
If self-employed: My company has been trading for more than 12 months.

American Express Gold Card

Card type- Charge Card


Annual
feeFirst
Year
fee
:
NIL
Second Year onwards : Rs.4500 plus taxes
Reward Earn Rate- Earn 1 Membership Rewards Point on every Rs 50
in purchases except on telecommunications, insurance, fuel and other
utility services* where you will earn 1 Membership Rewards Point per Rs.
100.
*
Telecommunications includes providers of landline phones, mobile phones, internet services, cable and
other pay TV services, and calling cards. Fuel includes petrol, diesel, CNG from Oil Marketing Companies
(OMCs). Other utility services includes providers of household/domestic electricity, gas and water. These
providers can be government departments and agencies including local, state, municipal organizations;
public housing societies and apartment associations.

Highlights

Earn 1000 Bonus MR Points for simply using your Card 4 times every month
Earn 5000 MR Points upon First Year Card Renewal
Redeem from the fabulous 18 carat and 24 carat Gold Collection
Enjoy flexibility in spending with no predefined credit limit.

Rewards Programme

You can earn 1 Membership Rewards Point on every Rs 50 in purchases except on


telecommunications, insurance, fuel and other utility services * where you will earn 1 Membership
Rewards Point per Rs. 100. Your Points are worth their weight in Gold with a range of exciting
rewards to choose from.
Get fabulous Rewards from the stunning new 18 carat and 24 carat Gold Collection, specially chosen for
you. As your Membership Rewards Points keep growing, the rewards shine brighter with every carat.

Points
Rewards
24,000
24 carat Gold Collection
Bose Docking Station
Apple iPod
Tissot Watch
MakeMyTrip Holiday Voucher
18,000

Enjoy the flexibility to redeem your Points from over 600+ exciting redemption options
including leading airlines and hotels, electronics and more.
Enjoy discounts of up to 20% off every time you dine at select restaurants across your
city.

Offers and Privileges


Exclusive benefits, intelligent features, assistance at any hour. Your American
Express Gold Card brings you many special privileges.
Intelligence from Gold
With built-in intelligence, your Gold Card gives you flexibility by analysing your
spending patterns and automatically adjusting your spending limit.
Delights from Gold
Enjoy up to 20% off every time you dine at select restaurant partners.

Gold Services
24X7 Card Related Assistance
Dispute Resolution
Zero lost Card liability
Emergency Card Replacement
2 Complimentary Supplementary Gold Cards.

Eligibility
To save time before you apply for your Card, its best to make sure you can say yes to
the following:

I am over 18 years of age


I have a good credit history and no payment defaults
If self-employed: I have been trading for at least 18 months (or 12 months if I hold an existing American Express issued Card).

The NEW American Express PAYBACK Credit Card

Card Type
Credit Card
Annual fee
First year fee: Rs.750 plus applicable taxes.
Second year onwards: Rs.1,500 plus applicable taxes.
Get annual Card fee waiver from second year onwards on
spending more than Rs.150,000 in a year.
Reward Earn Rate
3 Payback Points for every Rs.100 spent.
Additionally, get multiple PAYBACK Points across more than 40 PAYBACK partners1.

Highlights

Earn multiple Points from more than 40 PAYBACK partners1 and 3 PAYBACK
Points from American Express PAYBACK Credit Card for every Rs. 100 spent
Earn 9 PAYBACK Points for every Rs. 100 spent on spending Rs. 15,000 within 60
days of Card approval2
Enjoy the power of paying in parts with American Express easy monthly installments
Get welcome vouchers3 worth Rs. 3,000
Enjoy exciting discounts on dining, travel and online shopping

Rewards Programme

The NEW American Express PAYBACK Credit Card rewards you with
PAYBACK Points from both American Express and PAYBACK1 India's largest
loyalty programme
Get 3 PAYBACK Points from American Express on every Rs.100 spent
Boost your PAYBACK Points when you shop at over 40 PAYBACK partner brands,
including Big Bazaar, MakeMyTrip.com, Pantaloons and many more . These PAYBACK
points vary from partner to partner1.
Here are examples of how you can earn multiple Points:

For every Rs.100 spent at PAYBACK partner Pantaloons, you will get 3 Payback
Pointsfrom American Express and 4 Payback Points from Pantaloons, adding up to 7
Payback Points
For every Rs.200 spent at PAYBACK partner Big Bazaar, you will get 6 Payback
Pointsfrom American Express and 5 Payback Points from Big Bazaar, so you will get a
total of11 Payback Points.
Welcome gift
Get gift vouchers3 worth Rs.3,000 as a special gift on enrollment to the NEW American
Express PAYBACK Credit Card
Earn 6 additional PAYBACK Points for every Rs. 100 spent along with the regular 3
PAYBACK Points, on spending Rs.15,000 within the first 60 days from the date of Card
approval, giving you a total of 1,350 PAYBACK Points2.
Here's how:
On spending Rs.15,000 in the first 60 days, you earn:
Regular Points (3 PAYBACK Points for every Rs. 100 spent) = 450
Additional Points (6 PAYBACK points for every Rs. 100 spent) = 900
Total PAYBACK Points = 1350
Additionally, if you shop at PAYBACK partners1, you can earn multiple points, making
this a truly special offer.
Redeem your rewards
Your Points bring you closer to fabulous rewards with every purchase. Here are 3 easy
ways to redeem them:

PAYBACK Online Catalogue


PAYBACK Partner Outlets
PAYBACK Online Partners

Offers and Privileges


Rewards are just the beginning. Your NEW American Express PAYBACK Credit
Card gives you a range of other exciting offers and privileges too.
Shop now. Pay-in-Parts.
Now, shopping for all that you desire for becomes easy with exclusive EMI offers on
your Card.

With the 'Pay-in-Parts' Privilege4 on American Express PAYBACK Credit Card, convert
your transactions above Rs.5,000 into installments at:
0% Processing Fee
1.49% p.m. interest and
No foreclosure charges
Please SMS 'EMI' to 5616166 to know more or email at emi@aexp.com.

Additional Offers
Enjoy big savings and discounts from time to time with the American Express
PAYBACK Credit Card at our Offer Centre.

Other exciting offers are available on:

Dining
Shopping
Fuel
Eligibility
To save time before you apply for your Card, its best to make sure you can say yes to
the following:

I am over 18 years of age


I have a personal annual income of INR 3 lacs or above (for both Salaried, Self Employed)
I have an Indian or multinational banks savings or current account in India
I have a permanent residential address in India
I have a good credit history and no payment defaults
If self-employed: My company has been trading for more than 12 months.

Time Inc. And American Express Reach Agreement for Time Inc. to Acquire American
Express Publishing
NEW YORK, September 10, 2013 -Time Inc. and American Express Company (NYSE: AXP) today announced an agreement for
Time Inc. to acquire American Express Publishing Corporation. The sale is expected to be
completed in the fourth quarter of 2013, subject to satisfaction of customary closing
conditions. American Express Publishing, with brands including Travel + Leisure and Food &
Wine, will become a wholly-owned subsidiary of Time Inc.
American Express Publishing is home to the most desirable brands in the luxury space and
were delighted they will become part of Time Inc., said Joe Ripp, Chief Executive Officer,
Time Inc. We have deep respect for Ed Kelly and his talented team. We know their business
well and we believe we can create some exciting synergistic opportunities across our portfolio.
We have a long-term relationship with Time Inc. that goes back many years, said John Hayes,
Chief Marketing Officer, American Express. Under Ed Kellys leadership, American Express
Publishing has done extraordinary work with great skill, passion and accomplishment. While the
company has outperformed its peers by creating editorial products of exceptional quality,
banking regulations limit our ability to engage in non-financial activities. We concluded that
Time Inc. is the ideal partner to continue the groups tradition of excellence, and we expect to
work closely with them on a range of marketing initiatives in the future.
Weve built a great business around respect for our people and the brands that they serve, said
Ed Kelly, President and Chief Executive Officer of American Express Publishing Corporation.

This sale is a formula for success that will allow us to further develop our extraordinary brands,
services and traditions, and we look forward to being part of the Time Inc. family.
The acquisition follows a 20-year relationship between Time Inc. and American Express
Publishing during which Time Inc. has provided management services support to the company.
Eligible American Express Card Members will continue to receive Departures,Black
Ink and Executive Travel.
The American Express Publishing brands reach 36 million consumers worldwide across its
portfolio which includes the companys magazines and branded books, digital properties, social
media platforms, membership clubs, retail stores and more than a hundred events and
experiences.

About Time Inc.


Time Inc., a division of Time Warner, is one of the largest branded media companies in the
world reaching more than 130 million Americans each month across multiple platforms. With
influential brands such as TIME, PEOPLE, SPORTS ILLUSTRATED, InStyle, and REAL
SIMPLE, Time Inc. is home to celebrated events and franchises including the FORTUNE 500,
TIME 100, PEOPLE's Most Beautiful and SPORTS ILLUSTRATED'S Sportsman of the Year.
About American Express
American Express is a global services company, providing customers with access to products,
insights and experiences that enrich lives and build business success. Learn more
at americanexpress.com and connect with us
on facebook.com/americanexpress,foursquare.com/americanexpress, linkedin.com/companies/a
merican-express,twitter.com/americanexpress, and youtube.com/americanexpress.
Key links to products and services: charge and credit cards, business credit cards,travel
services, gift cards, prepaid cards, merchant services, business travel, andcorporate card.
About American Express Publishing Corporation
American Express Publishing Corporation became a subsidiary of American Express in 1968
after its purchase of U.S. Camera & Travel. The title was re-launched as Travel + Leisure in
1971 and today is the worlds most influential travel brand. The company went on to
introduce Food & Wine, originally an editorial test within Playboy, with the May 1978 issue
and Departures, exclusively published for Platinum Card and Centurion Members, in
1985. Black Ink, an exclusive benefit for Centurion Members, launched in 2004.
American Express Publishing Corporation produces authoritative lifestyle content that empowers
affluent, primed consumers - and the businesses that serve them - to make informed decisions.
We tell customers where to fly, what to try, and what to buy next. Through the lens of five multimedia brands Travel + Leisure, Food & Wine, Departures, Executive Travel and Black Ink
content is available in magazines and branded books, on websites, e-reader and tablet editions,
social media platforms, on-air, through membership clubs, retail stores and more than a hundred
events and experiences. American Express Publishing's brands are published in over 70 countries
with 25 editions in nine languages. Follow us on Twitter @AmexPublishing.
Information Related To Forward-Looking Statements
This release includes forward-looking statements that reflect managements expectations about

future events. These forward-looking statements are subject to risks and uncertainties. The
words believe, expect, anticipate, intend, intent, plan, aim, will, may,
should, could, would, likely, and similar expressions are intended to identify forwardlooking statements. Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date on which they are made. Neither American Express
nor Time Inc. undertake any obligation to update or revise any forward-looking
statements. Factors that could cause actual results to differ materially from these forwardlooking statements include, but are not limited to, the following: events impacting the likelihood
and timing of the completion of the transaction, such as regulatory and other approvals, and
Time Inc.s ability to successfully integrate American Express Publishing upon consummation of
the transaction. A further description of such factors can be found in each of American Express
and Time Warner Inc.s Annual Report on Form 10-K for the year ended December 31, 2012,
each of its Quarterly Reports on Form 10-Q for the three months ended March 31 and June 30,
2013, and each of the Companies other reports filed with the SEC.

American Express Executive to Participate in the Barclays Global Financial Services


Conference
NEW YORK, September 4, 2013 -American Express Group President, Global Corporate Services, Steve Squeri, will participate in
the Barclays Global Financial Services Conference in New York, on Wednesday, September 11,
2013, at 8:15 A.M. (ET). Mr. Squeri will participate in a question and answer session relating to
the company's results and strategic priorities as well as the Global Corporate Services business,
which includes Global Corporate Payments and Business Travel, World Service, Global
Business Services, Technologies and Global Credit Administration.
A live audio webcast will be made available to the general public through the American Express
Investor Relations website at http://ir.americanexpress.com. An audio replay of the presentation
will be available after the event at the same website address.
American Express is a global services company, providing customers with access to products,
insights and experiences that enrich lives and build business success. Learn more
at americanexpress.com and connect with us
on facebook.com/americanexpress,foursquare.com/americanexpress, linkedin.com/companies/a
merican-express,twitter.com/americanexpress, and youtube.com/americanexpress.
Key links to products and services: charge and credit cards, business credit cards,travel
services, gift cards, prepaid cards, merchant services, business travel, andcorporate card.

American Express and Isis announced today that they will introduce American Express Serve
to the Isis Mobile Wallet. The new co-branded account will be offered in every Isis Mobile
Wallet as a part of a nationwide launch later this year, enabling millions of Americans to tap and
pay using their American Express Serve account.

By adding American Express Serve to the Wallet, customers will be able to pay bills online and
send money to friends and family. They will also be able to add cash to their American Express
Serve account or fund it using an existing bank account, any credit or debit card or through direct
deposit.
Linking the platforms will allow millions of people to conveniently and inexpensively manage
and move their money, said Dan Schulman, group president, Enterprise Growth, American
Express. From the palm of your hand, consumers including those without access to traditional
bank accounts or credit can have access to everyday financial services. And our combined
solution works in todays retail environment, and in the emerging tap to pay point of sale
ecosystem.
Our relationship with American Express Serve underscores our mutual commitment to
providing consumers with choice and value in mobile payments, said Michael Abbott, chief
executive officer, Isis. We learned through our pilot that customers love the convenience of tap
and pay with the ability to manage their payments and loyalty programs from one app. By adding
American Express Serve to the Isis Wallet, we can immediately provide millions of consumers
the opportunity to participate in mobile commerce as we continue to enrich the consumer
experience.
Customers will be able to use eligible American Express Serve accounts within the Isis Mobile
Wallet to:

Load funds to their American Express Serve account from a variety of sources,
including a bank account, debit, credit or charge card, or by receiving money from
another American Express Serve account

Load cash to their American Express Serve account

Tap and pay with their phone at any NFC enabled retail location that accepts American
Express

Use their American Express Serve Card at any merchant that accepts American Express
Cards, both online and offline

Pay bills electronically

Make person to person (P2P) payments to other American Express Serve


accountholders

Add funds using direct deposit


According to the FDIC, nearly 70 million Americans do not have bank accounts or access to
credit. Many of these Americans are paid in cash and must rely on expensive services to pay
their bills or send money to friends or family. By adding alternatives to traditional banking
services at a low cost to the Isis and American Express Serve experience, American Express
Serve is now able to provide a unique service proposition to millions of Americans.

The Isis Mobile Wallet uses near field communications (NFC) technology to allow consumers to
pay, redeem coupons and present loyalty cards with their mobile phones. American Express'
U.S. Consumer and OPEN Small Business Cards are currently available in the Isis Mobile
Wallet. Isis recently announced plans to expand nationwide later this year.

About American Express


American Express is a global services company, providing customers with access to products,
insights and experiences that enrich lives and build business success. Learn more
at americanexpress.com and connect with us
on facebook.com/americanexpress,twitter.com/americanexpress and youtube.com/americanexpre
ss.
Key links to products and services: charge and credit cards, business credit cards,travel
services, gift cards, prepaid cards, merchant services, business travel, andcorporate card.
About Isis
The joint venture is between AT&T Mobility LLC, T-Mobile USA, Inc. and Verizon Wireless
and is based in New York City. The venture is chartered with building Isis, a national mobile
commerce venture that will fundamentally transform how people shop, pay and save. The Isis
Mobile Commerce Platform will be available to all merchants, banks, payment networks and
mobile carriers. Isis, Isis Mobile Wallet, Isis Ready, Isis Mobile Commerce Platform and the
associated logos are trademarks of JVL Ventures, LLC in the U.S. and/or other countries. Other
logos, product and company names mentioned herein may be the trademarks of their respective
owners. For more information visit www.paywithisis.com.

Wells
Fargo
and
American
Express
Announce
Credit
Card
Issuing
PartnershipLoyaltyEdge from American Express to Assist in the Design of Wells Fargo
Consumer Credit Card Loyalty Program
SAN FRANCISCO, CA, August 7, 2013 -Two companies that share the same founders and a rich history, Wells Fargo (NYSE: WFC) and
American Express (NYSE: AXP), announced today a new chapter of partnership that will see
Wells Fargo issuing new credit cards accepted on the American Express network.
Wells Fargo will make the cards available in the marketplace nationwide by mid2014. Financial terms of the agreement were not disclosed.
"We are delivering on our strategy to expand our credit card business," said John Stumpf,
Chairman and CEO of Wells Fargo. "Our goal is to offer Wells Fargo customers a suite of cards
that help them meet their financial goals. We're proud to have American Express as a partner in
this effort -- a great company with a proven brand for customer service."
Wells Fargo customers will be able to apply for the cards through mail, online, phone and 6,000
retail store locations. Wells Fargo will conduct a pilot program for customers in select U.S.
markets starting in the third quarter of 2013, with a full scale launch in the first half of
2014. The new cards will be accepted on the American Express global merchant network.
"Given the fact that two of our founders were Henry Wells and William Fargo, this partnership is
especially significant to all of us at American Express," said Kenneth I. Chenault, Chairman and
CEO, American Express. "Wells Fargo is an outstanding addition to our global network of cardissuing partners. We look forward to starting a new journey with them and to delivering
premium value and service to Wells Fargo's customers."

Avid Modjtabai, head of Wells Fargo's Consumer Lending Group added, "We want to give the
customers who already carry our card and the ones who don't yet greater rewards and
benefits for having a Wells Fargo card in their wallets. The breadth of our offerings, our strong
retail network and the power of this new partnership with American Express position us well to
continue to deliver compelling choices and experiences to our customers."
As part of the card-issuing partnership, American Express is providing its Partner Advantage
capabilities and services to support Wells Fargo in developing a suite of products that will offer a
superior set of experiences, exclusive benefits and customized offers from the American Express
network, both online and offline. Separately, LoyaltyEdge from American Express will assist in
the design of a new Wells Fargo loyalty program by offering a broad range of merchandise and
gift cards that Wells Fargo's consumer credit customers will be able to redeem with their points.
"Wells Fargo is one of the most respected financial institutions in the U.S., and we are delighted
to bring the power of our brands together to offer Wells Fargo's customers an exciting new suite
of high-value products that will provide rich rewards and benefits together with remarkable
customer service," said William Stredwick, senior vice president, Global Network Partnerships,
North America, American Express. "In doing so, we can support Wells Fargo's efforts to grow
their credit card business and further extend the benefits of the American Express network."
About the Joint History between Wells Fargo and American Express
In 1850, Henry Wells, William G. Fargo and John Butterfield joined to establish the American
Express Company to transport packages, valuables, and goods. In 1852, Henry Wells and
William Fargo formed Wells Fargo & Company to extend reliable banking and express service
to the Pacific Coast following the discovery of gold in California. John Butterfield, American
Express founder and Vice President, maintained the American Express business based in New
York, expanding its East Coast operations, while Henry Wells and William Fargo served as the
first and second president of American Express, respectively.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial
services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San
Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and
commercial finance through more than 9,000 stores, 12,000 ATMs, and the Internet
(wellsfargo.com), and has offices in more than 35 countries to support the bank's customers who
conduct business in the global economy. With more than 270,000 team members, Wells Fargo
serves one in three households in the United States. Wells Fargo & Company was ranked No. 25
onFortune's 2013 rankings of America's largest corporations. Wells Fargo's vision is to satisfy
all our customers' financial needs and help them succeed financially. Wells Fargo perspectives
are also available at blog.wellsfargo.com.
About American Express
American Express is a global services company, providing customers with access to products,
insights and experiences that enrich lives and build business success. Learn more
at americanexpress.com and connect with us
on facebook.com/americanexpress,foursquare.com/americanexpress, linkedin.com/companies/a
merican-express,twitter.com/americanexpress, and youtube.com/americanexpress.
Since 1997, American Express has partnered with a select group of leading banks and financial
institutions around the world to issue American Express-branded products and acquire merchants
on to the American Express merchant network. By leveraging its partnerships, global

infrastructure and the powerful appeal of the brand, American Express has gained even broader
reach for its network worldwide.
LoyaltyEdge helps organizations design, build and manage scalable loyalty solutions that serve
all customers regardless of payment type. It was created in 2009 and is a part of the Enterprise
Growth division of American Express.

American Express Second Quarter EPS Up 10% to $1.27; Revenues, Cardmember


Spending and Loan Portfolio Grow; Total Expenses Up 1%

NEW YORK, July 17, 2013 -American Express Company (NYSE: AXP) today reported second-quarter net income of $1.4
billion, up 5 percent from $1.3 billion a year ago. Diluted earnings per share was $1.27, up 10
percent from $1.15 a year ago.
Second quarter consolidated total revenues net of interest expense rose 4 percent to $8.2 billion,
from $8.0 billion a year ago. The increase reflected higher cardmember spending and growth in
the cardmember loan portfolio, which helped to generate higher net interest income.
Consolidated provisions for losses totaled $593 million, up 29 percent from $461 million a year
ago. This increase primarily reflected lower reserve releases this year, partially offset by the
benefit of lower net write-offs. Credit indicators continued to be at historically strong levels.
Consolidated expenses totaled $5.7 billion, up 1 percent from $5.6 billion last year. The increase
reflected higher rewards costs, driven by higher cardmember spending. Expense levels for the
quarter reflected, in part, ongoing efforts to contain operating expenses(2) throughout the
company.
The effective tax rate was 30 percent, up from 29 percent a year ago.
The company's return on average equity (ROE) was 23.6 percent, down from 26.6 percent a year
ago.

We generated record bottom line results this quarter despite an uneven global economy, said
Kenneth I. Chenault, chairman and chief executive officer. Cardmember spending grew by 7
percent (8 percent adjusted for foreign currency translations), with broad-based gains throughout
the business both here in the U.S. and internationally. We continued to build our cardmember
loan portfolio while maintaining credit indicators at historically strong levels.
We are well on track with the restructuring and related initiatives that we announced earlier this
year. They are helping us contain expense growth and that, in turn, is giving us the flexibility to
make substantial investments designed to grow the business and expand into newer segments of
the market.
We continue to believe that maintaining a lean operating structure will be a critical component
of delivering shareholder value in the current environment.
Segment Results
U.S. Card Services reported second-quarter net income of $743 million, up 3 percent from $718
million a year ago.
Total revenues net of interest expense increased 5 percent to $4.2 billion, from $4.0 billion a year
ago. Revenues reflected higher cardmember spending and a rise in net interest income that was
driven by the growth in cardmember loans.
Provisions for losses totaled $402 million, up 29 percent from $312 million a year ago. The
increase primarily reflected lower reserve releases this year, partially offset by the benefit of
lower net write-offs.
Total expenses were $2.7 billion, up 3 percent from $2.6 billion a year ago. The increase
primarily reflected higher rewards and marketing costs, partially offset by lower operating
expenses. The higher rewards costs were driven by stronger cardmember spending.
The effective tax rate was 37 percent compared to 38 percent from a year ago.
International Card Services reported second-quarter net income of $208 million, up 17 percent
from $178 million a year ago.
Total revenues net of interest expense were $1.3 billion, unchanged from a year ago. Adjusted
for foreign currency translations, revenues rose 3 percent from the year ago quarter.(3)
Provisions for losses totaled $116 million, up 23 percent from $94 million a year ago. The
increase primarily reflected lower reserve releases this year.
Total expenses were $1.0 billion, down 3 percent from $1.1 billion a year ago. The decrease
primarily reflected lower operating expenses. Adjusted for foreign currency translations,
expenses were down 1 percent compared to the year ago quarter.(3)
The effective tax rate was (33) percent compared to (22) percent a year ago. The current period
tax rate reflected the resolution of certain prior years' tax items. The prior years tax rate
reflected the realization of certain foreign tax credits. In addition, tax rates in both quarters
reflect recurring permanent tax benefits allocable to the segment.

Global Commercial Services reported second-quarter net income of $226 million, up 3 percent
from $219 million a year ago.
Total revenues net of interest expense rose 1 percent to $1.2 billion. The increase primarily
reflected higher cardmember spending, partially offset by lower business travel commissions and
fees.
Total expenses were $853 million, down 4 percent from $886 million a year ago. The decline
primarily reflected lower salaries and employee benefits and other operating expenses. Partially
offsetting the decrease were higher rewards costs during the quarter.
The effective tax rate was 32 percent compared to 27 percent a year ago. Last years tax rate
reflected the realization of certain foreign tax credits.
Global Network & Merchant Services reported second-quarter net income of $412 million, up
11 percent from $372 million a year ago.
Total revenues net of interest expense rose 5 percent to $1.4 billion, from $1.3 billion a year ago.
The increase reflected higher merchant-related revenues driven by a rise in global cardmember
spending.
Total expenses decreased 4 percent to $715 million, from $744 million a year ago. The decline
reflected lower operating expenses, as well as lower marketing, promotion, rewards and
cardmember services costs.
The effective tax rate was 36 percent compared to 34 percent a year ago.
Corporate and Other reported second-quarter net loss of $184 million compared with net loss
of $148 million in the year ago period.
About American Express
American Express is a global services company, providing customers with access to products,
insights and experiences that enrich lives and build business success. Learn more
at americanexpress.com and connect with us
on facebook.com/americanexpress,foursquare.com/americanexpress, linkedin.com/companies/a
merican-express,twitter.com/americanexpress, and youtube.com/americanexpress.
Key links to products and services: charge and credit cards, business credit cards,travel
services, gift cards, prepaid cards, merchant services, business travel, andcorporate card.
The 2013 Second Quarter Earnings Supplement will be available today on the American Express
web site at http://ir.americanexpress.com. An investor conference call will be held at 5:00 p.m.
(ET) today to discuss second-quarter earnings results. Live audio and presentation slides for the
investor conference call will be available to the general public at the same web site. A replay of
the conference call will be available later today at the same web site address.
This release includes forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements are based on the company's expected business

and financial performance and are subject to risks and uncertainties. Actual results may differ
from those set forth in the forward-looking statements due to a variety of factors, including those
contained in the company's Annual Report on Form 10-K for the year ended December 31, 2012,
its Quarterly Report on Form 10-Q for the quarter ended March 31, 2013 and the companys
other filings with the Securities and Exchange Commission. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the date on which
they are made. The company undertakes no obligation to update or revise any forward-looking
statements.
(1) Represents net income less earnings allocated to participating share awards of $13 million
and $14 million for the three months ended June 30, 2013 and 2012, respectively, and $24
million and $28 million for the six months ended June 30, 2013 and 2012, respectively.
(2) Operating expenses represent salaries and employee benefits, professional services,
occupancy and equipment, communications and other expenses.
(3) As reported in this release, FX adjusted information, which constitute non-GAAP financial
measures, assume a constant exchange rate between the periods being compared for purposes of
currency translation into U.S. dollars (i.e., assumes the foreign exchange rates used to determine
results for the three months ended June 30, 2013 apply to the period(s) against which such results
are being compared). The company believes the presentation of information on an FX adjusted
basis is helpful to investors by making it easier to compare the company's performance in one
period to that of another period without the variability caused by fluctuations in currency
exchange rates.

American Express Statement on European Commission Proposals


NEW YORK, July 17, 2013 -American Express Company (NYSE: AXP) issued the following statement today based on
preliminary reports characterizing the contents of the European Commissions draft proposals on
payment industry regulation that is scheduled to be released next week.

The publication of formal proposals by the Commission will mark the start of a lengthy
legislative process and review period. We expect these proposals to prompt extensive
debate among many market participants.

The proposals focus primarily on and cap the interchange fees charged by four-party
payment systems, such as Visa and MasterCard.

The discount rate that American Express charges merchants would not be regulated.

Our proprietary consumer and corporate card businesses are not covered by the
proposed pricing caps.

Three-party systems, such as American Express, would only be covered when they
license other institutions to issue cards, as in our Global Network Services
Business. GNS represents a relatively small percentage of our European business.

American Express VISION, Mission, Values


Values
Customer Commitment- We develop relationships that make a positive difference in our customers' lives.
Quality- We provide outstanding products and unsurpassed service that, together, deliver premium value to our
customers.
Integrity- We uphold the highest standards of integrity in all of our actions.
Teamwork- We work together, across boundaries, to meet the needs of our customers and to help the company win.
Respect for People- We value our people, encourage their development and reward their performance.
Good Citizenship- We are good citizens in the communities in which we live and work.
A Will to Win- We exhibit a strong will to win in the marketplace and in every aspect of our business.
Personal Accountability- We are personally accountable for delivering on our commitments.

Vision
We work hard every day to make American Express the worlds most respected service brand.

Operating PrinciplesLiving up to our values is our first priority. These three operating principles also guide our
daily actions:
Offer superior value propositions to all of our customers- We aim to provide products,
services, benefits and rewards that deliver more value than any competitor.
Operate with best-in-class economics- We focus on managing our business as efficiently as
possible to continually improve the quality of our service and invest in growth.
Support the American Express brand- American Express has one of the worlds most trusted
brands. We strive to always provide the world-class service and personal recognition that our
customers expect from us.

RESEARCH OBJECTIVES AND SCOPE OF RESEARCH PROJECT


3.1 PROBLEM DEFINATION:
Creadi card company were with good background human being and through rigorous process of
recruitment but still not able to perform up to the expectation level of company, HR is not able to
sort out the problem why the performance is not coming even after giving the full marketing and
operational support. The communication technique and dealing with the customers is also a
problem to the Creadi card company.
3.2 OBJECTIVES OF RESEARCH PROJECT:
3.2.1 PRIMARY OBJECTIVES:

To acquire new customer by convincing them and to promote the benefits of those which
are provided by the American Express.
To find the different way of convincing customers.
To study brand image of the American Express.
To increase the business of the American Express.

3.2.2 SECONDARY OBJECTIVES:

To determine the need and purpose of a credit card company.


To understand the deciding criteria for people to become a credit card holder.
To offer suggestions based upon the findings.

3.3 PRODUCT SCOPE:


Studying the increasing business scope of the American Express. Market segmentation to find
the potential customers for the American Express. To study how the various products are
positioned in the market. Corporate marketing of products. Customers perception on the various
products of the American Express.
CHAPTER 4- RESEARCH METHODOLOGY AND LIMITATIONS
All the findings and conclusions obtained are based on the survey done in the working area
within the time limit. I tried to select the sample representative of the whole group during my
summer training. I have collected data from people linked with different professional at Pune.

4.1 RESEARCH PLAN:


4.1.1. PRELIMINARY INVESTIGATION:

In which data on the situation surrounding the problems shall be gathered to arrive at.
The correct definition of the problem. An understanding of its environment.

4.1.2. EXPLORATORY STUDY:


To determine the approximate area where the problem lies.
4.2 RESEARCH DESIGN:
Research was initiated by examining the primary and secondary data to gain insight into the
problem. By analyzing the primary and secondary data, the study aim is to explore the short
comings of the present system and primary data will help to validate the analysis of secondary
data besides on unrevealing the areas which calls for improvement.
4.2.1 DEVELOPING THE RESEARCH PLAN:
The data for this research project has been collected through self Administration. Due to time
limitation and other constraints direct personal interview method is used. A structured
questionnaire was framed as it is less time consuming, generates specific and to the point
information, easier to tabulate and interpret. Moreover respondents prefer to give direct answers.
In questionnaires open ended and closed ended, both the types of questions has been used.

4.2.2 COLLECTION OF DATA:


1: SECONDARY DATA: It was collected from internal sources. The secondary data was
collected on the basis of organizational file, official records, news papers, magazines,
management books, preserved information in the companys database and website of the
company.
2: PRIMARY DATA: All the people from different profession were personally visited and
interviewed. They were the main source of Primary data. The method of collection of primary
data was direct personal interview through a structured questionnaire.

4.3 SAMPLING PLAN: Since it is not possible to study whole universe, it becomes necessary
to take sample from the universe to know about its characteristics.

Sampling Units: Different professionals. Chartered Accountants, Tax Consultants,


Lawyers, Business Man, Professionals and House Wives of Pune.
Sample Technique: Random Sampling.
Research Instrument: Structured Questionnaire.
Contact Method: Personal Interview.

4.4 SAMPLE SIZE: My sample size for this project was 100 respondents. Since it was not
possible to cover the whole universe in the available time period, it was necessary for me to take
a sample size of 100 respondents.

4.5 DATA COLLECTION INSTRUMENT DEVELOPMENT: The mode of collection of


data will be based on Survey Method and Field Activity. Primary data collection will base on
personal interview. I have prepared the questionnaire according to the necessity of the data to be
collected.
4.6 RESEARCH LIMITATIONS:
It was not possible to understand thoroughly about the different marketing aspects of the
Financial Consultant within 60 days. As stipend, money was not given it was difficult to
continue the project work. All the work was limited in some limited areas of Pune so the findings
should not be generalized. The area of research was Pune and it was too vast an area to cover
within 60 days.
CHAPTER 5-DATA ANALYSIS, INTERPRETATION AND PRESENTATION
Q1.Your Age?
Ans.
1. 18-23 Years
2. 24-29 Years
3. 30-35 Years
4. 35 Years and above

20 Person
40 Person
20 Person
20 Person

Base 100 respondents :


Interpretation From above response it can be seen that
20% respondents age are 18 to 23 years.
35% respondents age are 24 to 29 years.
30% respondents age are 30 to 35 years.
15% respondents age are 35 to above years.

Interpretation

Age 18 to 23
Age 24 to 29
Age 30 to 35
Age 35 & above

Q2. Marital Status?


.
Married

Single

No. of Children: __________


Ans.
Married
62 Person
Single
38 Person
No. of Children
Nil
Interpretation From above response it can be seen that
62% respondents are married.
38% respondents are unmarried.

Marital Status

Married
Single

Q3. Educational Qualification?


Undergraduate

Graduate

Postgraduate

Ans.
Undergraduate
20 Person
Graduate
52 Person
Postgraduate
28 Person

60
Undergraduate

40

Graduate
20
0

Post Graduate
Undergraduate

Interpretation From above response it can be seen that.


20% respondents are Under graduate.
52% respondents are Graduate.
28% respondents are Post graduate.
Q4. Number Of years Are You in Pune?
Less than five years
More than five years
Ans.
Less than five years
More than five years

37 Person
63 Person

In pune

Less than 5 years


More than 5 years

Interpretation From above response it can be seen that.


39% respondents are in Pune for less than five years.
61% respondents are in Pune for more than five years.
Q5. Your Occupation?
Business
Profession
Service
Ans.
Business
Profession
Service

23 Person
37 Person
40 Person

Occupation
Business
Profession
Service

Interpretation From above response it can be seen that.


23% respondents Occupation is Business.
37% respondents Occupation is Profession.
40% respondents Occupation is Service.
Q6. Your annual household income?
Less than 2 lacs
Between 2 to 5 lacs
Between 5to 8 lacs
More than 8 lacs

Annual Income
Less than 2 lac
2lac to 5 lac
5lac to 8 lac
8 lac & above

Ans.

Less than 2 lacs


Between 2 to 5 lacs
Between 5to 8 lacs
More than 8 lacs

30 Person
45 Person
13 Person
12 Person

Interpretation From above response it can be seen that.


30% respondents annual household income is less than 2 lacs.
45% respondents annual household income is between 2 to 5 lacs.
13% respondents annual household income is between 5 to 8 lacs.
12% respondents annual household income is more than 8 lacs.
Q7. What is your perception about different products/services provided by American Express?

Ans.

Lucrative

Not lucrative
No idea

Lucrative
42 Person
Not lucrative 53 Person
No idea
15 Person

Perception about American


Express Service
Lucrative
No lucrative
no idea

Interpretation From above response it can be seen that.


42% respondents perception about different products is lucrative.
53% respondents perception about different products is not lucrative.
15% respondents have no idea.
Q8. Do you want to open an account with American Express?
Yes
No
Will tell later
Ans.
Yes
22 Person
No
28 Person
Will tell later
50 Person

Intrested in opening
account with American
Express
Yes
No
Will tell later

Interpretation From above response it can be seen that.


22% respondents are not interested to open an account with the American Express.

28% respondents are interested to open an account with the American Express.
50% of the respondents say that they will tell later.

Q9. Do you have all the documents which are required to open an account?
Yes
No
Ans.
Yes
85 Person
No
15 Person

Documents availability

Yes
No

Interpretation From above response it can be seen that.


85% respondents have all the documents which are required to open an account with the
American Express.
15% respondents do not have all the documents which are required to open an account
with the American Express
Q10. Are you aware that the American Express provides you free phone help & online services.
If you open a new savings account with American Express?
Yes

No

Ans.
Yes
62 Person
No
38 Person

Service Awareness

Yes
No

Interpretation From above response it can be seen that

62% respondents are aware of it.


38% respondents are not aware of it.

Q11.Are you aware of different terms and conditions which are very much essential to maintain
an account at American Express?
Yes

No

Ans.
Yes
55 Person
No
45 Person

Terms and condition


awareness
yes
no

Interpretation From above response it can be seen that.


55% respondents are familiar with different terms and conditions which are very much
essential to maintain account with the American Express.
45% respondents have no idea about it.
Q13. Do you know about American Expresss recruitment policies related to Credit card
company?
Yes

No

Ans.
Yes
68 Person
No
32 Person

Recruitment policies for credit


card

Yes
no

Interpretation From above response it can be seen that.


68% respondents are known about American Expresss recruitment policies related to
Creadi card company.
32% respondents are not known about American Expresss recruitment policies related to
Creadi card company.

CHAPTER 6- CONCLUSIONS AND SUGGESTIONS


6.1 CONCLUSIONS:
American Express, the American Expressing arm of AMERICAN EXPRESS is expected to go
on stream. The American Express already has good number of employees on board and is
recruiting Creadi card company heavily to take the headcount to many more. It is on the brim of
increasing its customers through its attractive schemes and offer.
The project opportunities provided was market segmentation and identifying prospective
customers in potential geographical location and convincing them to attract more customers so
that new business opportunities of the American Express can be explored. Through this project,
it could be concluded that people are not much aware about the various products of the American
Express and many of them not interested to open an account, to invest money at all. services was
considered as unsought good which require hard core selling, but in changing trend in income
and people becoming financially literate, the demand for American Expressing sector is
increasing day by day.
So, at last the conclusion is that there is tough competition ahead for the company from its major
competitors in the American Expressing sector. Last but not the least I would like to thank

American Express for giving me an opportunity to work in the field of Marketing and Operation.
I hope the company finds my analysis relevant.

6.2 SUGGESTIONS:
Finally some recommendations for the company are as fallows:

To make people aware about the benefit of becoming a customer of American Express,
following activities of advertisement should be done through

1. Print Media.
2. Hoarding & Banners.
3. Stalls in Trade Fares
4. Distribution of leaflets containing details information.
5. Retail outlets promotions.
Other facilities must be provide to the customer:
The American Express should provide life time valid Creadit Card card to all its
customers.
According to customer salary and expenses credit facility should be provided
The company should provide a online account to track all records of transaction.
Make people understand about the various benefits of its products.
Company should organize the program in the society, so that people will be aware about
the company and different products of the American Express.
Company should open more branches in different cities.
CHAPTER 7- LIMITATIONS
Every work has its own limitation. Limitations are extent to which the process should not
exceed. Limitations of this project are:
The project was constrained by time limit of two months.
Mindset of people may very depending upon their age, gender, income etc.
Getting appointment from the concern person was very difficult.
People mind set about the survey was obstacles in acquiring complete Respondents were
very busy in their schedule. So it was very time consuming for information & positive
interaction, them to answer all the questions properly.

ANNEXURES
1. QUESTIONNAIRE

DearSir/Madam,
Name: ..
Address: ..
Contact No :( O) (M)
City: ...............Pin: .State:
I am a student of IIBR presently doing a project onIN WHICH AREA MORE FOCUS Sales
& Promotion.I request you to kindly fill the questionnaire below and I assure you that the data
generated shall be kept confidential.
1. Your Age: ____________________
2. Education Qualification.
1. Undergraduate
2. Graduate

3. Postgraduate

3. Marital Status
.
Married

Single

No. of Children: __________


4. Number Of years Are You in Pune.
Less than five years
More than five years
5. Occupation.
Business
Profession
Service
(Please mention below the type of business/profession you are in incase of service please
mention your organization name and designation)
6.Your annual household income.
<than 2 lack

Between 2 to 5 lack
Between 5 to 8 lack
>than 8 lack

7. What is your perception about different products and services offered by American Express?

Lucrative

Not lucrative

No idea

9. Do you want to open an savings account with American Express?


Lucrative

Not lucrative
No idea

10. Do you have all the documents which are required to open an account?
Yes

No

11. Are you aware of that American Express credit card facilities ?
yes

No

12. Are you aware of different terms and conditions which are very much essential to maintain
an account at American Express?
Yes

No

13. Do you know about American Expresss recruitment policies related to Credit card
company?
Yes

No

14. How much limit do you want if you go for a credit card ?
Less than 1 lack

1 Lack to 2 lack
2 Lack to 5 Lack
5 lack & above

Date:
Place:

Thank You

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Bibliography
Search engine: Google, Yahoo, Bing
Sites- Americanexpress.com, Wikipedia.com etc
Various Books.