American Express Singapore

Did you know?

American Express is the world's biggest card issuer in terms of purchase volume and it operates one of the largest travel networks worldwide. American Express launched its first ever credit card in the year 1958 in the United States and Canada.

In 1975, American Express launched its Blue Box logo. American Express strengthened its position as a leader in premium cards with the launch of its Platinum Card in 1984. In 1991, American Express introduced the Membership Rewards programme.

American Express’s Founding Story

American Express was established in 1850 as a freight forwarding company. About four decades later, the company invented the Travelers Cheque. Shortly after, it set up its first overseas office in Paris.

It was in 1919 that the company was incorporated in the US as The American Express Company, Inc. In 1958, it took a major turn as it forayed into the credit card business with the launch of American Express Personal Card.

Subsequently, the company continued to grow organically as well as through acquisitions. Today, it is a global financial, travel, and network services provider, with operations in more than 200 countries. As of 31 December 2017, the company had 112 million cards in force.

Global Footprints

One of the truly unique assets of American Express is its global presence and local market knowledge. The products and services that American Express offers has evolved over a period of time, but it remains committed to providing services and products of the highest quality along with superior levels of customer support. With a workforce of more than 80,000 people, American Express offers its services and products in over 200 countries. The cards offered by American Express are currently being issued in 43 different currencies.

American Express is a global leader when it comes to the number of charge cards being issued, the total number of airline cards being issued and the number of people enrolled to the Cards Reward Program. American Express also has over 1700 travel service locations in more than 130 countries serving the ever growing travel needs of their customers.

Outside America, American Express operates its bank in 77 offices spread across 40 countries. Singapore is one of the few places where American Express has its corporate office. The local capabilities of American Express are supported by the strength of a large global network. Wherever  the company operates, it closely works with local business partners. These partnerships benefit local businesses as well as American Express to development its business and bring consumers a broader choice of services and products.

Performance of American Express in Singapore

  • Worldwide billed business: $1.1 trillion
  • Net income: $2.7 billion
  • Total Assets: $181 billion
  • Cards in force: 112 million
  • Total Revenue: $33.4 billion

American Express’s Product Portfolio in Singapore

Personal Banking

  • Cards
    • Credit cards
      • American Express True Cashback Card
      • American Express Platinum Credit Card
      • American Express Platinum Reserve Credit Card
      • American Express CapitaCard
      • American Express Singapore Airlines KrisFlyer Credit Card
      • American Express Singapore Airlines KrisFlyer Ascend Credit Card
      • American Express Singapore Airlines Solitaire PPS Credit Card
      • American Express Singapore Airlines PPS Club Credit Card
      • American Express Rewards Card
      • American Express Personal Card
      • American Express Gold Card
      • American Express Platinum Card
  • Travel Services
    • Travellers Cheques
    • Foreign Exchange Services
    • Travel Insurance
    • Global Business Travel Solutions
  • Insurance
    • Motor Insurance
    • Personal Accident and Hospital Cash Insurance
    • Medical Insurance
    • Art Insurance

Awards

American Express has managed to bag the following awards over the last few months:

  • “Best Places to Work for LGBT Equality” by Human Rights Campaign 2018.
  • “100 Best Companies to Work For” by Fortune Magazine 2018.
  • “NAFE Top 50 Companies for Executive Women” by Working Mother Magazine 2018.
  • “Best Companies for Diversity” by Black Enterprise 2018.
  • “Top Companies for Women Technologists” by Anita Borg Institute 2017.
  • “100 Best Companies” by Working Mother Magazine 2017.

Social Responsibility and Sustainability Initiatives

American Express is involved in the following CSR activities around the world:

  1. Preserving and maintaining iconic and historic places around the world
  2. American Express has contributed close to $60 million since 1974 to preserve more than 500 historic and world heritage sites such as the Palace of Fine Art in Mexico City and The Temple of Hercules in Rome.

    American Express also sponsors World Monuments Watch. This organisation draws attention to heritage sites which are in danger of being ruined by climate change, armed conflict, vandalism, neglect, natural disasters and commercial development around the world.

  3. Community service work
  4. In the year 2016, grants offered by American Express as part of their community service helped gather over 6 million volunteers that resulted in donated time talent worth over $660 million. These volunteers were involved in the following activities:

    • Helping lakhs of young people in need of help.
    • Building or restoring dilapidated homes.
    • Serving millions of meals to the poor.
    • Avoiding 72 million pounds of food from getting wasted.

American Express in the News

American Express to raise its quarterly dividend by 11% and buy back shares worth $3.4 Billion

The members of the Board of Governors of American Express made certain adjustments to their capital plan. The changes are as follows:

    • Buying back common shares worth up to $3.4 billion during the period of Q3’ 2018 to Q2’ 2019. By doing so, American Express would be able to purchase common shares worth up to $1.6 billion in 2018. In addition, the company will repurchase shares worth $1.9 billion in the first half of 2019.

    • Raise the company’s quarterly dividend to 39 cents per share starting from the third quarter of 2018.

28 June 2018


American Express introduces ‘Shop Saks with Platinum’ in partnership with Saks Fifth Avenue

American Express U.S. Consumer Platinum cardmembers will be eligible to receive up to $100 in statement credits every year and up to $50 every half year when you spend at Saks Fifth Avenue, using the Platinum Card. This offer will begin from 1 July 2018. Platinum cardmembers in the United States can enrol for the “Shop Saks with Platinum” programme by signing in to their American Express account. Also, you do not have to fulfil any minimum purchase amount to be eligible.

27 June 2018


American Express launches Propel Card in the United States with triple points and $0 annual fee in partnership with Wells Fargo

June 26 2018: American Express has partnered with Wells Fargo in the United States to launch a brand new Propel Card. This card is one of the few in the United States that offers the most inclusive reward categories among the popular credit cards with an annual fee waiver. The features of the card are as follows:

    • No limit on the number of points you earn.

    • 3X points on streaming services, eating out or ordering in and transit and travel.

    • No foreign currency conversion fee.

26 June 2018


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