American Express began life hauling freight, not charge cards

On March 18, 1850, three rival express outfits merged in Buffalo, New York, to form the American Express Company. The driving partners were Henry Wells and William G. Fargo, joined by John Butterfield — men whose business was moving money, parcels, and other valuables safely over long distances in an age before reliable nationwide banking.

Express companies were essentially trusted couriers. American Express grew quickly, swallowing smaller competitors across the Midwest and signing contracts with the new railroads. When Butterfield balked at extending service to California, Wells and Fargo split off in 1852 to launch Wells Fargo & Company — which is why two of America’s most famous brands share a surname.

A freight forwarder became a financial giant only decades later, with money orders and travelers cheques.

The pivot to charge cards came over a century after the founding, in 1958. The express wagons were long gone, but the company’s core promise — safely moving something valuable from one place to another — never really changed.