|American Express Company, together with its consolidated subsidiaries is a global services company that provides customers with access to products, insights and experiences that enrich lives and build business success. Their principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses around the world. We are principally engaged in businesses comprising four reportable operating segments: U.S. Card Services, International Card Services, Global Commercial Services and Global Network & Merchant Services. Corporate functions and certain other businesses, including our Enterprise Growth Group and other operations, are included in Corporate & Other.
The company competes in the global payments industry with charge, credit and debit card networks, issuers and acquirers, as well as evolving alternative payment providers. As the payments industry continues to evolve, we are facing increasing competition from non-traditional players that leverage new technologies and customers’ existing accounts and relationships to create payment or other fee-based solutions. They are transforming their existing businesses and creating new products and services for the digital marketplace as we seek to enhance our customers’ digital experiences and develop platforms for online and mobile commerce.