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American Express Co  (AXP)
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American Express Co's

Competitiveness


 

AXP Sales vs. its Competitors Q4 2023



Comparing the current results to its competitors, American Express Co reported Revenue increase in the 4 quarter 2023 by 8.1 % year on year.
The sales growth was above American Express Co's competitors' average revenue growth of 2.42 %, achieved in the same quarter.

List of AXP Competitors

With a net margin of 7.28 % American Express Co achieved higher profitability than its competitors.

More on AXP Profitability Comparisons



Revenue Growth Comparisons




Net Income Comparison


American Express CoNet Income in the 4 quarter 2023 grew year on year by 22.96%, while most of its competitors have experienced a contraction in net income by -30.61 %.

<<  AXP Stock Performance Comparisons


American Express Co's Comment on Competitors and Industry Peers


Our global card network competes in the global payments industry with other card networks, including, among others, Visa, MasterCard, Diners Club International (which is owned by Discover Financial Services), Discover (primarily in the United States) and JCB and China UnionPay (primarily in Asia). We are the fourth largest general-purpose card network on a global basis based on purchase volume, behind Visa, MasterCard and China UnionPay. In addition to such networks, a range of companies globally, including merchant acquirers and processors and companies such as PayPal, carry out some activities similar to those performed by our GMS and GNS businesses. No other single entity engages on a global basis in the full range of activities that are encompassed by our closed-loop business model.

Another aspect of network competition is the recent emergence and rapid growth of alternative payment mechanisms and systems, which include aggregators (such as PayPal, Square and Amazon), wireless payment technologies (including using mobile telephone networks to carry out transactions), electronic wallet providers, prepaid systems and systems linked to payment cards, and bank transfer models such as ACH and wire transfers.

New technologies, together with the portability provided by smartphones and tablets and evolving consumer behavior with social media and networking, are rapidly changing the way people interact with each other and transact business all around the world. Traditional and non-traditional competitors such as mobile telecommunications companies and aggregators are working to deliver digital and mobile payment services for both consumers and merchants. Competition remains fierce for capturing and maintaining online and mobile spend in the ever-increasing digital world, and alternative business models present a significant challenge. For example, aggregators like PayPal have the ability to provide payment services to merchants for multiple payment networks. In addition, new entrants to the digital payments space such as online, social media, telecommunications and technology companies represent additional competitive and potentially disintermediating factors in the card payment industry given the scale of their customer relationships, large cash reserves and other resources available to develop new platforms and technologies, and their strategies to use payments as a tool to support other sources of revenue.

To the extent alternative payment mechanisms and systems, such as aggregators, continue to expand successfully, discount revenues and potentially other revenues, as well as our ability to access transaction data through our closed-loop network, could be negatively impacted. In the United States, alternative payment vehicles that seek to redirect customers to payment systems based on ACH continue to emerge and grow, merchants with recurring billing models actively seek to switch customers to payment through direct debits from bank accounts, and existing debit networks also continue to expand both on- and off-line and are making efforts to develop online PIN functionality, which could further reduce the relative use of charge and credit cards online.

Some of our competitors have attempted to replicate our closed-loop functionality. JPMorgan Chase announced it would partner with Visa to develop Chase Merchant Services. Efforts by some card networks, payment providers and non-traditional competitors to replicate the closed loop reflect both its continued value and the intensely competitive environment in which we operate.

Our proprietary Card business encounters substantial and intense competition in the United States and internationally. As a card issuer, we compete in the United States with financial institutions that issue general-purpose charge and revolving credit cards (such as Bank of America, Capital One Financial, Citibank, Discover Financial Services and JPMorgan Chase). We also encounter competition from businesses that issue their own private label cards or otherwise extend credit to their customers, such as retailers and airline associations, although these cards are generally accepted only at limited locations. In recent years, we have faced increasingly intense competition in the small business sector, as competitors have targeted OPEN’s customer base and our leadership position in providing financial services and other fee-based solutions to small businesses.

The largest competing issuers have continued to grow, in several cases by acquiring card portfolios, and also by cross-selling through their retail branch networks. Competing card issuers offer a variety of products and services to attract cardholders, including premium cards with enhanced services or lines of credit, airline frequent flyer program mileage credits, cash rebates and other reward or rebate programs, services for small business owners, “teaser” promotional interest rates and rewards points for both credit card acquisition and balance transfers, and co-branded arrangements with partners that offer benefits to cardholders.
Most financial institutions that offer demand deposit accounts also issue debit cards to permit depositors to access their funds. Use of debit cards for point-of-sale purchases has grown as most financial institutions have replaced ATM cards with general-purpose debit cards bearing either the Visa or MasterCard logo. Debit cards were historically marketed as replacements for cash and checks, and transactions made with debit cards have typically been for smaller dollar amounts. However, debit cards are increasingly perceived as an alternative to credit or charge cards and used in that manner. Additionally, overdraft accounts can be used by our competitors to extend credit to customers when transaction values exceed monies available in a linked demand deposit account.

The corporate payments sector is dynamic and highly competitive, with much overlap between corporate and consumer payment cards and services and competition increasingly intense at both the payment provider and network levels. We are seeing increased product and price competition from payment providers, including larger regional and national banks. Customers are increasingly seeking payment products that integrate with their expense management tools and support electronic payment methods. With respect to competition at the network level, both Visa and MasterCard continue to support card issuers such as Citibank, JPMorgan Chase and U.S. Bank, including by improving data collection and reporting to meet customers’ requirements. In addition to product and price competition, other key competitive factors in the corporate payments business include global servicing capability, quality of data, and access to additional services, such as reporting and program management tools, and customer experience.

GBT continues to adjust to the shift of its clients’ preferences, and the resulting shift of some volume, from high-touch personal service to online channels and automated servicing tools. GBT also continues to face intense competition in the United States and internationally from numerous traditional and online travel management companies, as well as from airlines’ direct-to-consumer business, other travel suppliers, accredited in-house corporate travel agents and new entrants to the travel industry. Competition among travel management companies is mainly based on price, service, value creation, convenience, global capabilities and proximity to the customer.
For many years, consumer and business travel agencies (including travel management companies) have faced pressure on revenues from airlines, as most airlines have stopped paying “base” commissions to travel agents for tickets sold and significantly reduced other forms of travel agent compensation. Airlines have also made efforts to increase the number of transactions booked directly through their websites. These trends have reduced the revenue opportunities for travel management companies because they do not receive distribution revenue from transactions booked directly with the airlines. In recent years, the airline industry has undergone bankruptcies, restructurings, consolidations and other similar events including expanded grants of antitrust immunity to airline alliances. This antitrust immunity enables otherwise independent airlines to closely coordinate their international operations and to launch highly integrated joint ventures in transatlantic and other regions. These types of structural changes may result in additional challenges to travel management companies.





  

Overall company Market Share Q4 2023

With revenue growth of 8.1 % within Overall company, American Express Co achieved improvement in market share, within Overall company to approximately 20.21 %.
<<  More on AXP Market Share.
 
*Market share is calculated based on total revenue.

  News about American Express Co Contracts

American Express Sets New Benchmark with Largest Centurion Lounge and Strong Financial Growth

American Express Opens Largest Centurion Lounge at Atlanta Airport, Reports Strong Financial GrowthAmerican Express (NYSE: AXP) is set to open its largest Centurion Lounge at Hartsfield-Jackson Atlanta International Airport (ATL) on February 14. Spanning nearly 26,000 square feet, this lounge will become the largest in the Centurion Lounge network. The new facility will offer a locally-inspired menu curated by Atlanta-based Chef Deborah VanTrece, an array of seating options, outdoor terraces with views of the airfield, and The Reserve.The decision to expand the Centurion Lounge network at Atlanta Airport, which is the busiest airport in the world, comes as a strategic move by American Express to enhance thei...

American Express Scores Brilliant Partnership with Argentine National Teams, Exhibiting Stellar Financial Performance

American Express Expands Partnership with Argentine National Teams, Showcasing Strong Financial PerformanceIn an exciting development, the Argentine Football Association (AFA) and American Express (NYSE: AXP) announced the expansion of their sponsorship agreement at a celebratory event held at Amex's headquarters in New York. American Express has now become a Global Sponsor of the Argentine National Teams until 2026, encompassing the Men's National Team, Women's National Team, and Youth National Teams. This milestone agreement was marked by the presence of none other than the esteemed coach of the Argentine National Team, Mr. Lionel.In addition to this remarkable partnership, American Express has garnered si...

PLAY by American Express Platinum: Uniting Art, Nostalgia, and Innovation in Miami


American Express Returns to Miami with PLAY by American Express Platinum, A One-of-a-Kind Interactive Gallery during Art Week
This year, American Express is making a splash in Miami with an immersive and interactive gallery called PLAY by American Express Platinum. The one-of-a-kind gallery, in collaboration with PlayLab, Inc. and Mattel Creations, features reimagined iconic toys as limited edition collectibles and art pieces. Visionary artists including Salehe Bembury, Eny Lee Parker, Surin Kim, Serban Ionescu, and Kumkum Fernando have contributed their unique creations to be showcased and available for sale in the gallery.
American Express is known for its innovative approach to engaging its c...





Who are American Express Co's Competitors?




Capital one financial corp
Share Performance



+58.19%
One Year



Capital one financial corp
Profile

The business model of Capital One Financial Corp is centered around offering a wide range of financial products and services, such as credit cards, loans, and banking accounts, to individuals, small businesses, and commercial clients. Leveraging their data-driven approach, the company aims to provide innovative and personalized solutions while maintaining a strong focus on customer experience and technology integration.

More about Capital one financial corp's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 57,089.036 mill. $ 26,361.000 mill. $ 4,810.000 mill.


Jpmorgan Chase and Co
Share Performance



+55.10%
One Year



Jpmorgan Chase and Co
Profile

Jpmorgan Chase and Co operates as a diversified financial services company, providing a range of banking, investment, and financial solutions to individuals, corporations, and governments worldwide. They generate revenue through various business segments, including consumer and community banking, corporate and investment banking, asset and wealth management, and commercial banking.

More about Jpmorgan Chase and Co's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 589,422.551 mill. $ 148,784.000 mill. $ 47,760.000 mill.


The Western Union Company
Share Performance



+15.25%
This Year



The Western Union Company
Profile

The Western Union Company operates as a financial services and communications company. Its business model involves facilitating money transfers and providing financial solutions globally, primarily targeting underserved populations and migrants around the world. The company generates revenue through various fees charged for its services, including transaction fees and foreign exchange fees.

More about The Western Union Company's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 5,242.500 mill. $ 4,396.600 mill. $ 748.400 mill.


Visa Inc
Share Performance



-2.29%
30 Days



Visa Inc
Profile

Visa Inc operates as a global financial services company that facilitates secure electronic transactions. The company provides payment solutions and technology infrastructure to financial institutions, merchants, and consumers worldwide. Visa's business model revolves around generating revenue from transaction fees and service charges, while ensuring the smooth flow of electronic payments through its network.

More about Visa Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 570,718.600 mill. $ 33,351.000 mill. $ 17,984.000 mill.


Mastercard Incorporated
Share Performance



+33.94%
One Year



Mastercard Incorporated
Profile

Mastercard Incorporated operates as a global payment technology company that provides transaction processing and payment solutions to financial institutions and merchants worldwide. Its business model is based on generating revenue through transaction fees charged to these institutions and merchants for the use of its payment network and services.

More about Mastercard Incorporated's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 455,720.723 mill. $ 25,098.000 mill. $ 11,195.000 mill.


Discover Financial Services
Share Performance



+16.69%
This Year



Discover Financial Services
Profile

Discover Financial Services operates as a direct banking and payment services company. It primarily generates revenue through interest income from loans, credit card fees, and transaction processing fees. By offering various financial products and services directly to consumers and businesses, Discover aims to drive customer loyalty and profitability.

More about Discover Financial Services's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 33,284.752 mill. $ 9,842.000 mill. $ 2,859.000 mill.


Citigroup inc
Share Performance



+37.63%
One Year



Citigroup inc
Profile

Citigroup Inc operates as a diversified financial services company, engaging in various activities such as consumer banking, corporate and investment banking, securities brokerage, and wealth management. The company earns revenue through the interest collected on loans and credit card balances, as well as fees generated from its banking and investment services. Citigroup's business model focuses on providing a wide range of financial products and services to individual customers, corporations, and governments worldwide.

More about Citigroup inc's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 144,450.178 mill. $ 78,462.000 mill. $ 9,381.000 mill.


Bank Of America Corporation
Share Performance



+2.35%
Over The Past 5 Days



Bank Of America Corporation
Profile

Bank of America Corporation operates as a diversified financial services company. Its business model revolves around providing a wide range of banking and financial products and services to individual consumers, small and medium-sized businesses, and large corporations. The company generates revenue through interest income, fees, and commissions from its various banking, lending, investment, and wealth management activities.

More about Bank Of America Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 306,142.442 mill. $ 98,581.000 mill. $ 26,515.000 mill.


Euronet Worldwide Inc
Share Performance



+0.45%
Over The Past 5 Days



Euronet Worldwide Inc
Profile

Euronet Worldwide Inc operates as an electronic payments provider, offering financial transaction processing solutions and services. The company's business model revolves around facilitating secure and convenient electronic payments, including money transfers, prepaid mobile top-ups, bill payments, and more. Euronet primarily generates revenue through transaction fees and commissions earned from its various electronic payment services.

More about Euronet Worldwide Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 5,549.248 mill. $ 3,688.000 mill. $ 279.500 mill.


Lesaka Technologies Inc
Share Performance



+4.77%
30 Days



Lesaka Technologies Inc
Profile

Lesaka Technologies Inc is a tech company that operates on a B2B model, providing innovative software solutions for various industries. They primarily generate revenue through the sale of their proprietary software products and services, targeting enterprise-level clients. Their business model focuses on continuously evolving their software offerings to meet the diverse needs of their customers and establish long-term partnerships.

More about Lesaka Technologies Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 249.579 mill. $ 631.331 mill. $ -33.456 mill.


Everi Holdings Inc
Share Performance



-15.87%
This Quarter



Everi Holdings Inc
Profile

Everi Holdings Inc operates as a technology provider for the casino gaming industry, offering an integrated suite of financial technology services. The company focuses on providing solutions such as cash access services, gaming operations management, and intelligence and compliance systems. Everi's business model revolves around delivering secure and innovative solutions that enhance the efficiency and profitability of casino operations while ensuring regulatory compliance.

More about Everi Holdings Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 846.431 mill. $ 807.821 mill. $ 83.997 mill.


Green Dot Corp
Share Performance



-10.10%
This Quarter



Green Dot Corp
Profile

Green Dot Corp's business model revolves around providing financial technology services and products that enable individuals, businesses, and government agencies to access and manage their money. They offer prepaid debit cards, banking, and payment solutions through various partnerships and proprietary platforms. Their aim is to make financial services accessible, affordable, and convenient for everyone.

More about Green Dot Corp's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 466.066 mill. $ 1,477.717 mill. $ 36.209 mill.


Synchrony Financial
Share Performance



+4.16%
30 Days



Synchrony Financial
Profile

Synchrony Financial operates as a consumer financial services company, providing various credit products and solutions to consumers and businesses. Their business model involves offering credit cards, installment loans, and other financing services through partnerships with retailers, healthcare providers, and other businesses, allowing customers to make purchases and pay in installments.

More about Synchrony Financial's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 17,593.387 mill. $ 11,323.000 mill. $ 2,196.000 mill.


Veritec Inc
Share Performance



0.00%
30 Days



Veritec Inc
Profile

Veritec Inc operates on a business model focused on providing technology solutions or services to clients.

More about Veritec Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 0.800 mill. $ 0.313 mill. $ -1.192 mill.


Diebold Nixdorf Incorporated
Share Performance



+1.23%
30 Days



Diebold Nixdorf Incorporated
Profile

Diebold Nixdorf Incorporated is a leading provider of software and hardware solutions for the financial and retail industries, offering self-service technology, security systems, and services to enhance customer experience and optimize operational efficiency. Their business model is centered around providing innovative solutions that drive financial institutions and retailers towards modernization and digital transformation to meet the evolving needs of their customers.

More about Diebold Nixdorf Incorporated's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 2,733.212 mill. $ 3,460.700 mill. $ -585.600 mill.


Paymentus Holdings Inc
Share Performance



+31.81%
This Year



Paymentus Holdings Inc
Profile

Paymentus Holdings Inc is a financial technology company that provides cloud-based payment and billing solutions to businesses and government organizations. Their business model revolves around offering secure and convenient electronic payment services, enabling their clients to streamline their billing processes and improve customer satisfaction.

More about Paymentus Holdings Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 2,899.768 mill. $ 581.276 mill. $ 13.877 mill.


Aci Worldwide inc
Share Performance



+5.46%
This Year



Aci Worldwide inc
Profile

ACI Worldwide Inc is a software solutions provider that offers a comprehensive suite of electronic payment and banking solutions to financial institutions, retailers, and other organizations.

More about Aci Worldwide inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 3,476.025 mill. $ 1,452.579 mill. $ 121.509 mill.


Bottomline Technologies Inc
Share Performance



+0.87%
This Year



Bottomline Technologies Inc
Profile

Bottomline Technologies Inc's business model revolves around providing software solutions and payment processing services to businesses.

More about Bottomline Technologies Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 2,437.918 mill. $ 506.357 mill. $ -36.360 mill.


Q2 Holdings inc
Share Performance



+20.89%
This Year



Q2 Holdings inc
Profile

Q2 Holdings Inc operates as a financial technology company that provides cloud-based digital banking solutions to financial institutions.

More about Q2 Holdings inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 2,982.561 mill. $ 623.651 mill. $ -65.384 mill.


On Track Innovations Ltd.
Share Performance



0.00%
30 Days



On Track Innovations Ltd.
Profile

On Track Innovations Ltd.'s business model revolves around developing and providing innovative solutions and technologies for secure cashless payment systems, contactless transactions, and identification technologies for a wide range of industries.

More about On Track Innovations Ltd.'s Market Share

Market Cap. Revenues TTM Net Income TTM
$ 12.374 mill. $ 14.999 mill. $ -9.458 mill.



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