News for American Express
Feb 23 · 8:08:00 AM · Source: Reuters
NEW YORK (Reuters) - Wall Street paid out $20.3 billion of bonuses in 2009, up 17 percent from a year earlier, New York State's comptroller said, as the financial industry recovered fitfully from a near meltdown.
The disconnect with Main Street continues. Mr. DiNapoli acknowledged that many might consider the bonus numbers outsized given the lingering problems in the economy.
"It's still a bitter pill for many people," he said. Like hello, do you think? How is the unemployed mother or father feeling this morning after reading this news?
Wall St. had better put there PR machines in full blown overdrive in an attempt to spin these numbers. Wouldn’t you love to be a fly on the wall in the Goldman Sachs executive meeting going on right now?
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by Jerry Byrne
Dec 29 · 12:54:00 PM · Source: Trading Markets
American Express Open, the small business division of American Express, launched AcceptPay, an online invoicing and payment solution that can help business owners improve cash flow at a time when customers are taking a longer time to pay.
AcceptPay is a new online solution that allows business owners to create, send and track invoices - all in one place. Through AcceptPay, the group said that customers can pay the invoice through a variety of methods, including major credit and debit cards, eChecks, cash, or checks.
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by Michael Oliveto
Nov 18 · 11:58:00 AM · Source: Company News Release
American Express Company Wednesday announced it has agreed to acquire Revolution Money, a company launched by AOL Co-founder Steve Case's Revolution LLC in 2007 to provides secure payments through an internet based platform.
Interestingly, American Express is buying a nascent competitor that has positioned itself to merchants as a low-cost alternative as Revolution offers PIN-based credit cards that charge merchants a fraction of the typical acceptance cost and free online money transfers.
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by Larry Etter
Nov 14 · 3:44:00 PM · Source: Business Wire
American Express Business Travel, has been named the “World’s Leading Business Travel Agency” by World Travel Awards.
With more than 180,000 travel professionals and key suppliers casting votes, the award recognizes American Express Business Travel for service excellence and the commitment to achieving best-in-class travel and expense management.
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by Michael Oliveto
Oct 28 · 12:41:00 PM · Source: American Banking News
American Express and Discover were named as the two best credit card companies based on overall consumer satisfaction, according to J.D. Power and Associates 2009 Credit Card Satisfaction Study.
The study ranks consumer satisfaction of credit card usage on six factors including customer interaction, interest rates and fees, payment processes, benefits and services and problem resolution. The study uses a 1,000 point scale and found that consumers are overall much less satisfied with their credit cards in 2009 than they were in 2008 and 2007.
· Related: Discover Financial Services
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by Michael Oliveto
Oct 23 · 12:19:00 PM · Source: Press Release
American Express reported Q3 earnings of $0.53 on net income of $640 million versus $0.70 on net income of $815 in the year ago period.
“Our results showed further progress in navigating through the most difficult economic environment in decades,” said Kenneth I. Chenault, chairman and chief executive officer.
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by Michael Oliveto
Oct 16 · 11:07:00 AM
American Express reported on Thursday through a regulatory filing that for the quarter that ended September 30, the 30-day delinquency rate was 4.1%, according to preliminary data, down from 4.4% in the second quarter.
The 30-day delinquency rate measures borrowers at least a month behind their card payments. The 30-day delinquency rate, a key gauge of future losses, is important because higher delinquencies force issuers to squirrel away capital to reserve for potential losses; ultimately, companies must write off loans if customers can't pay.
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by Michael Oliveto
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