American Express 2007 Annual Report Download - page 25

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company that works with other financial institutions to attract high-spending customers that benefit their
payments businesses and ours. And we are an expense management company that helps clients control costs
for travel, entertainment and other spending categories.
There is a huge difference between processing a transaction and actually helping customers realize their
aspirations. We aim to make a relationship with American Express an opportunity to accomplish more.
We know this is important to our customers because they tell us so.
In the months leading up to the 50th anniversary of the Card, we’ve been speaking with cardmembers who have
been with us since the beginning. They have shared their memories of how the American Express Card and
the service we provide have helped them in very personal ways. For example, Elaine Hamilton O’Neal, an
artist and charter cardmember whose photograph is featured in the opening pages of this Annual Report,
tells of how the Card has made it possible for her to travel the world and experience the different cultures
that influenced her life’s work.
LETTER TO SHAREHOLDERS
Our cardmembers clearly feel a special affinity for the brand. Hearing their stories is exceptionally rewarding
for all of us at American Express, and inspires us to do even more for them. That’s what world-class service
is all about. And I believe we have only begun to realize the value we can provide through our customer
insights, information management and servicing capabilities.
These capabilities position us to benefit from the long-term growth opportunities in the consumer,
small-business and large-corporate landscape today. The majority of payments still take place in the
form of cash and checks, meaning significant untapped potential remains. Moreover, countries with
rapidly growing consumer economies are also among those with the lowest rates of spending on
plastic and other noncash forms of payment. Meanwhile, new technologies are giving consumers and
business customers additional payment choices for a variety of everyday purchases. All of these trends
point to multiple avenues of growth for American Express.
23
JUST FOR CARDMEMBERS
A few hundred American Express cardmembers got an up-close view of the rock band Bon Jovi at a private
rehearsal for their Toronto concert this year. That’s just one way cardmembers enjoy “insider” access to
exceptional experiences tailored especially for them.