American Express 2015 Annual Report Download - page 7
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AMERICAN EXPRESS COMPANY | ANNUAL REPORT 2015 6
Going forward, we’ll direct our investments toward eorts that can help us build
revenues and earnings over the moderate to long term, including:
• Expanding our card member base with a focus on dierentiated products and
premium services;
• Growing our merchant network through OptBlue and other programs;
•Deepening customer relationships through lending and rewards;
• Continuing to increase our international presence;
• Expanding our oerings in merchant financing, working capital and FX
international payments; and
• Developing newer opportunities related to our loyalty coalition business
as well as our closed-loop data analytics.
In addition to organic growth, we’ll continue to explore acquisitions that can help
enhance the value we provide to our customers.
Taking a broader view, we see a compelling range of growth opportunities as
consumers continue to move away from cash and checks, as online and mobile
opportunities expand, and as commerce and payments continue to converge.
While we certainly face greater competition from both traditional rivals and newer
entrants looking to disrupt the industry, we believe that macro trends in payments
and technology can play to our strengths in the years ahead.
We have a tremendous set of assets to draw upon — our trusted brand, financial
strength, the advantages of our closed loop and the data it provides, world-class
customer service, and our proven ability to innovate in digital commerce.
Our integrated payments model runs about $1 trillion in spending through our
closed loop each year. That rich data enables us to create value for Card Members
and build business for our merchant partners. This is a major advantage, and it’s
one reason why other card issuers are trying to cobble together a closed loop of
their own, despite having only a portion of the essential data.
We’re not simply looking to do a better job of processing payments. We’re focused
on using our relationships, technology and data to better serve our customers and
open up commerce opportunities for our partners. As the boundaries between
online and oine blur, I believe our business model puts us in a great position to
benefit from the convergence of commerce and payments.