American Express (AmEx)

American Express, commonly known as AmEx, is a multinational financial services corporation headquartered in New York City. Unlike Visa and MasterCard, which are associations comprised of multiple financial institutions, American Express is unique in that it operates as a closed network, functioning both as a card issuer and a transaction acquirer. This model allows American Express to manage the entire lifecycle of its card transactions, providing a direct relationship with both cardholders and merchants.

American Express offers a broad range of payment, travel, and expense management solutions designed to cater to the needs of individuals and businesses. Their offerings include various credit and charge card products, rewards programs, and travel-related services that are recognized and used globally.

Amex SafeKey: Amex SafeKey is an advanced security feature implemented by American Express as part of the 3-D Secure protocol. SafeKey enhances online transaction security by allowing real-time data transmission between merchants and American Express to verify the cardholder’s identity. During a transaction, if there is any doubt about the cardholder's identity, SafeKey can prompt the issuance of a one-time password to the cardholder. This password must be entered to confirm that the purchase is authorized, thereby adding an additional layer of fraud prevention and security to online transactions.

In summary, American Express distinguishes itself in the financial services industry by providing comprehensive card and payment services directly to consumers and businesses, along with enhanced security measures such as SafeKey to protect against fraud in online transactions.