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By starting as a courier company carrying freight and valuables, AmEx established trust from its clients by delivering supreme services as promised. In 1882, American Express added another facet to their business by introducing money orders and instantly winning success among companies of the industry. At the same time they had established correspondent relationship with many European banks. In early years of credit card era American Express introduced its charge card. In just a few short years, more than 1 million cards were issued and used. From that time and up until now AmEx has been maintaining the status of one of the leading charge card and credit card issuers known world-wide.
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Since the first days of Master Charge (the first licensed name) the company has undergone numerous changes that were aimed to improve and grow the services provided to the customers. After a few times the name was changed to reflect more accurately the business led by this well known company, it has become known as MasterCard Worldwide. The list of names of the largest shareholders of MasterCard suggests that the company has earned the trust of some of the major players in banking industry (JPMorgan Chase, Citigroup, Bank of America, Euro Kartensysteme, Europay France). Today MasterCard presents cards with such features as extended warranties, travel accident insurance and damage waiver on cars rented with the card.
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