Welcome to our dedicated page for American Express Co news (Ticker: AXP), a resource for investors and traders seeking the latest updates and insights on American Express Co stock.
American Express Company (AXP) is a prominent multinational financial services corporation headquartered in New York City. Known for its specialization in payment cards, American Express is one of the most valuable companies globally and a key component of the Dow Jones Industrial Average.
Operating in around 130 countries, American Express provides a variety of charge and credit card payment products to both consumers and businesses. Its business is divided into three main segments: Global Consumer Services, Global Commercial Services, and Global Merchant and Network Services. Beyond its payment cards, the company offers expense management tools, consulting services, and business loans. The merchant payment network operated by American Express is highly profitable, facilitating transactions worldwide.
In recent news, American Express has agreed to sell its subsidiary Accertify to Accel-KKR, a private equity firm. Accertify is known for its advanced fraud prevention, chargeback management, and payment gateway solutions. This strategic move is expected to enable Accertify to accelerate its growth and product innovation in the fraud prevention market as an independent entity.
American Express continues to innovate and expand its services, adapting to the growing digital economy. The company remains committed to providing customers with access to products, insights, and experiences that enrich lives and build business success.
Squarespace (NYSE: SQSP) has announced an agreement to sell its Tock platform to American Express (NYSE: AXP) for $400 million. Tock, a provider of reservation, table, and event management technology, will enhance American Express' dining program and expand its network of diners. The deal signifies American Express' continued commitment to the hospitality industry. Both companies will collaborate to offer additional value to small businesses using American Express Cards via the Amex Offers program. The transaction is pending customary closing conditions, including regulatory approval.
American Express (NYSE: AXP) announced the acquisition of Tock, a reservation and event management technology provider, from Squarespace (NYSE: SQSP), and Rooam, a mobile payments and ordering technology company. These acquisitions aim to enhance Amex's dining platform, expanding its suite of digital tools for restaurants and merchants. With Tock's network of 7,000 restaurants and Rooam's integration capabilities, Amex will offer more personalized hospitality, pre-paid experiences, and convenient payment methods. Amex will acquire Tock for $400M, while the financial details for Rooam remain undisclosed. These deals are part of Amex's strategy to support the growth of the dining and entertainment industries.
American Express (NYSE: AXP) will host a live audio webcast of its Q2 2024 earnings conference call on July 19, 2024, at 8:30 a.m. ET. The public can access the webcast on American Express' Investor Relations website. The financial results and presentation materials will be released around 7 a.m. ET, ahead of the webcast. An audio replay will also be available on the website after the call.
American Express (NYSE:AXP) and Emburse have partnered to offer an integrated expense management solution through Emburse Spend. This collaboration enables small businesses and corporations to gain better visibility into spending, reduce errors, and save time. The solution allows customers to connect their American Express Card programs to Emburse Spend, where virtual card issuance, card reconciliation, and expense management can be managed in one place. The platform pre-codes transactions with essential expense information and provides enhanced security and transparency through virtual cards. Finance leaders can optimize spending and ensure compliance, while users benefit from streamlined processes and approvals.
American Express Company (NYSE: AXP) will participate in upcoming investor conferences where Chairman and CEO Stephen J. Squeri and Chief Financial Officer Christophe Le Caillec will address questions about the company's business strategy and financial performance. The events will be live streamed and available for replay on the American Express Investor Relations website.
American Express (AXP) has declared a quarterly dividend on its Series D Preferred Shares and a regular quarterly dividend on common shares. The dividend on Series D Preferred Shares is $9,269.44 per share, payable on June 17, 2024. The regular quarterly dividend on common shares is $0.70 per share, payable on August 9, 2024.
Accel-KKR has completed the acquisition of Accertify from American Express, positioning the company for accelerated growth and innovation in the fraud prevention space. Accertify, a leading provider of fraud prevention solutions, will now focus on expanding its market presence and enhancing its product offerings. The acquisition marks a strategic move to drive value for customers and foster continued success in the global fraud protection technology market.
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