The Bancorp Finetics Studio video series, which features one-on-one conversations with more than 30 of the financial services industry’s most influential and innovative executives, has released its second installment.
The Bancorp Finetics Studio video series, which features one-on-one conversations with more than 30 of the financial services industry’s most influential and innovative executives, has released its first installment.
CardWeb.com’s CardExecs database today features Kenneth Chenault, Chief Executive Officer of American Express.
The Walmart-funded Merchants Payments Coalition is hosting a briefing for members of Congress, their staffs and the press from noon to 1 p.m. Monday, Nov. 17 in room 562 of the Dirksen Senate Office Building.
Entersekt announced Swisscard AECS AG has implemented its mobile application Transakt to enable safer, more user-friendly 3-D Secure protection of online purchases. Swisscard is a joint venture between Credit Suisse AG and American Express. Designed to serve as an added layer of security for e-commerce purchases, 3-D Secure has significantly reduced fraud rates, but has proved unpopular with consumers and merchants owing to the cumbersome user experience of many current implementations. Entersekt’s card-not-present authentication solution reinvents the 3-D Secure user experience by enabling consumers to authenticate purchases through their mobile device with the touch of a button.When shoppers registered for the service initiate a transaction on a 3-D Secure e-commerce web site, they receive a push message on their mobile phone with the payment details. They then choose an “Accept” or “Reject” response.
InComm has signed an agreement with Swedish Seamless that enables the digitization of the company’s vast portfolio of closed-loop stored-value cards using the mobile payment solution SEQR. InComm offers stored-value cards from more than 500 brand partners in the US. The collaboration opens up InComm’s large client base and enables stores to digitizetheir gift cards. InComm is a leading provider of cutting-edge prepaid products, services and transaction technologies to retailers, brands and consumers. SEQR is Sweden’s and Europe’s most used mobile wallet in stores and online.
American Express Company today announced that it has signed an agreement to create a joint venture for its Global Business Travel division (“GBT”). Under the agreement, American Express will share ownership of the joint venture with an investor group led by Certares. In the proposed transaction, American Express will separate its GBT operations into a dedicated holding structure, which will include certain assets and liabilities that currently comprise GBT, and will have a 50% ownership stake in the joint venture following the closing. In exchange for an investment of $900 million in the joint venture, the investor group will hold the remaining 50%. American Express initially announced its intention to pursue this joint venture transaction in September 2013.
American Express Company reported 4Q net income of $1.3 billion, up from $637 million a year ago. Diluted earnings per share rose to $1.21, from $0.56 a year ago. Excluding expenses associated with the merchant litigation settlement agreement announced in late December, fourth-quarter adjusted net income was $1.3 billion, or $1.25 per share. U.S. Card Services reported 4Q net income of $864 million, up from $423 million while International Card Services reported 4Q net income of $103 million, up 8 percent from $95 million a year ago. Total revenues net of interest expense increased 8% for U.S. Card Services and 2% for International Card Services.
American Express Chairman and Chief Executive Officer, Kenneth I. Chenault, will participate in the Goldman Sachs U.S. Financial Services Conference in New York City, on Wednesday, December 11. Chenault will participate in a question and answer session relating to the company’s business strategy and results. American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success.
For the seventh year in a row, consumers have rated American Express highest in customer satisfaction among U.S. credit card companies, according to the annual nationwide study by J.D. Power. The study places American Express highest in overall satisfaction among 11 of the largest card issuers in the U.S. American Express remains the only credit card to receive the study’s top ranking since it was first conducted in 2007. The J.D. Power 2013 Credit Card Satisfaction StudySM looks at six broad categories to determine overall satisfaction: Customer Interaction, Billing and Payment Process, Credit Card Terms, Rewards Programs, Benefits and Services, and Problem Resolution. Over the past year, American Express has worked to improve the overall customer experience by introducing a host of new digital enhancements and updated product offerings, better connecting Card Members with American Express, merchants and each other. American Express ranked highest in Benefits and Services, Rewards Programs, and the Billing and Payments categories.
Wells Fargo (WFC) and American Express (AXP) partnered, by which Wells Fargo will issue new credit cards accepted on the American Express network. Wells Fargo will make the cards available in the marketplace nationwide by mid-2014. 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.
American Express Company appointed Jeffrey C. Campbell executive VP and CFO to lead Finance organization and represent American Express to investors, lenders and rating agencies. To sit on the Operating Committee, as well, Campbell joins American Express from McKesson Corporation, where he was executive vice president and chief financial officer of the largest health care services company in the United States. Before joining McKesson, Mr. Campbell served as chief financial officer of AMR Corporation and its subsidiary, American Airlines, where he helped the business successfully navigate significant financial challenges. Prior to this he was a CPA with Deloitte, Haskins and Sells. He is a member of the board of directors of Hexcel Corporation and the San Francisco Chamber of Commerce. He holds an A.B. degree in Economics from Stanford University and an M.B.A. from Harvard University.