Wells and Fargo Found American Express

Henry Wells and William Fargo founded American Express in Buffalo, New York, on March 18, 1850, merging three competing express delivery companies into a single firm that could move packages, currency, and financial documents across the rapidly expanding United States. The company's early business was literally carrying money in locked boxes on stagecoaches and trains. In 1882, American Express introduced the money order, a secure way to send funds through the mail, and in 1891 it launched the traveler's check, invented by employee Marcellus Berry, which became the standard method for carrying money abroad for the next century. The company moved into charge cards in 1958, issuing the first American Express card to challenge Diners Club's monopoly. The card required full monthly payment rather than revolving credit, establishing the premium positioning that still defines the brand. From its origins as a stagecoach delivery service, American Express evolved into one of the world's most valuable financial services companies.