American Express: Evolving through the ages

SAY the words American Express, and credit cards immediately come to mind. But set the clock back by 165 years, and a different - and lesser-known - story emerges.

Established in New York in 1850, American Express Company began as a quick-delivery business. Whether on horseback or by stagecoach, delivery men transported letters, parcels, gold, and other goods throughout the United States. The fledgling group capitalised on shortcomings in the government-run postal service - which was slow, expensive, and non-existent in many areas - and quickly grew in success.

It later diversified into the financial services space, introducing the world's first traveller's cheque in 1891. American Express also entered the travel business in 1915, undertaking elaborate tours to Europe, South America, and Asia. In fact, the company became synonymous with luxury tr…