아메리칸익스프레스(American Express) - Superman

How American Express differs


American Express typically plays the role of all three parties above, keeping the entire merchant discount. In recent years Amex has begun authorizing other banks to either acquire or issue on Amex's behalf, primarily in countries where Amex would otherwise have little or no presence.



Amex also has historically charged a higher merchant discount than Visa or MasterCard. The size of the premium can differ significantly: in the US, Amex charges 66 basis points more (2.56% vs 1.9%) than rivals Visa and MasterCard, while in Australia Amex charges more than twice as much as Visa or MasterCard due to Australian interchange regulations.



Amex uses this higher discount revenue to invest in rewards programs which provide a higher payout than competing programs. These more substantial rewards programs, in addition to a premium brand and a reputation for superior customer service, allows Amex to attract a disproportionate share of affluent consumers. Amex then uses its strength with affluent consumers to justify charging a higher merchant discount rate, implying that if a merchant does not accept Amex cards he will lose affluent customers. This business model creates a self-reinforcing loop.


Due to what Amex calls its "spend-centric strategy", card spending and fees are responsible for 70% of Amex's card profit, vs. 10-40% for other issuers. Amex also tends to make more money from annual fees than other issuers do.
From http://en.wikipedia.org/wiki/American_Express