AXP - American Express Company

NYSE - NYSE Delayed price. Currency in USD
131.52
+0.97 (+0.74%)
At close: 4:04PM EST
Stock chart is not supported by your current browser
Previous close130.55
Open131.45
Bid131.52 x 1800
Ask131.79 x 800
Day's range130.79 - 131.86
52-week range98.46 - 131.86
Volume3,390,007
Avg. volume2,835,985
Market cap107.619B
Beta (5Y monthly)1.05
PE ratio (TTM)15.89
EPS (TTM)8.28
Earnings date23 Jan 2020
Forward dividend & yield1.72 (1.32%)
Ex-dividend date31 Dec 2019
1y target est133.08
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  • Bloomberg

    Visa, Mastercard, AmEx Win Easier Access to China Market

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The biggest U.S. card companies just moved a step closer to gaining access to China’s $27 trillion payments market.China said it won’t take longer than 90 days to consider applications from providers of electronic-payments services such as Mastercard, Visa and American Express Co., according the text of a landmark trade agreement with the U.S. It should be an especially welcome reprieve for Mastercard and its partner NetsUnion Clearing Corp., which set up a venture in March that is still awaiting approval from the People’s Bank of China to begin operations.“China is a vital market for us,” Seth Eisen, a spokesman for Mastercard, said Wednesday in an emailed statement. “We continue to make every effort to secure the requisite license to be able to operate in China domestically. This deal is a step forward in that process.”The move shows progress in the U.S. payment networks’ battle for access to mainland China, which has been a point of contention in the trade dispute. Officials from the world’s two largest economies finalized a bevy of deals before signing off on the first phase of a sweeping trade agreement, which they have sought to cast as a major breakthrough in relations.Mastercard Chief Executive Officer Ajay Banga and Visa CEO Al Kelly were in attendance at Wednesday’s festivities at the White House for the trade deal announcement. In a statement, Visa said it sees potential to help further develop digital payments in China through the 2022 Olympics in Beijing and that it’s approaching entry into the country “with a long-term focus.”“Visa is working closely with the Chinese government, including the People’s Bank of China, throughout the application process for a bank card clearing institution license,” the company said in the statement, welcoming the signing of the trade agreement.China in June 2015 allowed foreign bank-card clearing providers to obtain licenses by setting up units or acquiring a local company, ending a monopoly by state-run China UnionPay Co. But progress has since been slow for Visa and Mastercard, the world’s largest payment networks. American Express cleared a key hurdle in early January when regulators accepted its application to start a bank-card clearing business with a Chinese partner.“We’re pleased with the progress we’re making to become the first foreign network to receive a clearing and settlement license to operate in mainland China,” Leah Gerstner, a spokeswoman for AmEx, said in a statement. “We will continue to work through the regulatory approval process through our joint venture in China.”As part of Wednesday’s agreement, the U.S. also pledged not to discriminate against China UnionPay, or CUP, or other Chinese electronic payment services.Mastercard and Visa have long complained that their delayed entrance into China means they’ll be pitting themselves against large domestic players in a market that’s seen mobile payments explode in recent years. Mobile transactions topped 190 trillion yuan ($27 trillion) in China in 2018, making it the world’s largest such market, according to iResearch. Ant Financial’s Alipay and Tencent Holdings Ltd.’s WeChat Pay are the dominant mobile payments firms.They won’t be starting from nothing. Mastercard and Visa have long worked with Chinese banks to slap their brands on cards to facilitate transactions that consumers make outside China. But Wednesday’s announcement means the networks will now have a chance to compete for those cardholders’ domestic spending as well.China had 8.2 billion bank cards in circulation at the end of September, with 90% of them debit cards.(Updates with Visa comment in sixth paragraph, AmEx comment in eighth.)\--With assistance from Jenny Surane and David Scheer.To contact Bloomberg News staff for this story: Lucille Liu in Beijing at xliu621@bloomberg.netTo contact the editors responsible for this story: Candice Zachariahs at czachariahs2@bloomberg.net, ;Alan Goldstein at agoldstein5@bloomberg.net, Jonas Bergman, Dan ReichlFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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    AmEx Moves Closer to Entering China’s $27 Trillion Market

    (Bloomberg) -- American Express Co. cleared a key hurdle in its bid to accessing China’s $27 trillion payments market after the central bank accepted its application to start a bank card clearing business.The People Bank of China made the announcement on its official Wechat account Wednesday, without giving more details. The decision to accept the application signals that it’s moving closer to final approval.AmEx in November 2018 became the first foreign company to win permission to start preparation for the business after forming a joint venture with LianLian, a Chinese fintech-services firm.The latest move shows progress in U.S. payment networks’ battle for access to mainland China, which has been a point of contention raised in the trade dispute with the U.S. China on Thursday announced Vice Premier Liu He will travel to Washington to sign the first phase of the trade deal with the U.S. on Jan. 15, confirming a ceremony announced by President Donald Trump.China in June 2015 allowed foreign bank-card clearing providers to obtain licenses by setting up units or acquiring a local company, ending a monopoly by state-run China UnionPay Co. But progress in entering China has been slow for Visa Inc. and Mastercard, the world’s two biggest payment networks, with neither firm as of yet obtaining approval.The Communist Party ruled country is opening up its financial markets this year to allow foreign firms to set up fully owned operations to run insurance businesses, asset management and investment banking. BlackRock Inc. and Goldman Sachs Group Inc. are among a bevy of firms that are preparing to pile in full bore to capture profits from China’s fast growing wealth.China had 8.2 billion bank cards in circulation at the end of September, with 90% of them debit cards.AmEx will pit itself against large domestic players and a well-developed market for mobile payments. Mobile transactions topped 190 trillion yuan ($27 trillion) in China in 2018, making it the world’s largest such market, according to iResearch. Ant Financial’s Alipay and Tencent Holdings Ltd.’s WeChat Pay are the dominant firms.(Adds details on trade talks in fourth paragraph.)To contact Bloomberg News staff for this story: Jun Luo in Shanghai at jluo6@bloomberg.netTo contact the editors responsible for this story: Candice Zachariahs at czachariahs2@bloomberg.net, Jonas BergmanFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

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    American Express Continues to Expand and Offer Card Members Exceptional Travel Benefits with the Opening of the Centurion® Lounge and Escape Lounge at the Phoenix Sky Harbor International Airport

    Today, American Express (NYSE: AXP) and MAG USA announced the opening of The Centurion Lounge and Escape Lounge at Phoenix Sky Harbor International Airport (PHX). With Phoenix Sky Harbor International Airport welcoming more than 44 million passengers each year, the two unique spaces will provide Platinum Card® and Centurion Members with more options and premium amenities as they travel through Phoenix.

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