American Express is a leading global payments, network and travel company backed by one of the world's most recognized brands. American Express is unique in the payments industry as an issuer of cards as well as a worldwide network that processes millions of merchant transactions daily. We offer the broadest array of charge, credit, prepaid and co-brand cards for consumers, small businesses, midsize companies and large corporations.
In 2006, consumers and business spent $561 billon on American Express cards, the most of any card issuer such as Citibank, JP Morgan Chase or Bank of America. There are more than 78 million American Express cards in the marketplace around the world, which are accepted by millions of merchants in more than 200 countries and territories. Through sophisticated marketing and information management capabilities we can target high-spending, high-creditworthy cardmembers to customize products, services, rewards, special offers and experience while helping to build the business of our merchant partners.
Long known as an innovator in the payments industry, we are at the forefront of efforts to broaden the use of cards and electronic payments to take the place of cash and checks. From quick service restaurants to the first company to introduce monthly mortgage payments on plastic, we continue to broaden ways in which our cardmembers can use their cards and earn rewards points.
We also provide expense and purchasing management services to help our corporate clients control costs. Additionally, as the world's leading travel management company, we serve individuals and business clients both online and offline, through a network of more than 2,200 owned and representative offices.
Established in 1850 as a U.S. delivery service, American Express has remained a leader for generations by embracing both innovation and tradition. As our company has grown and evolved, sometimes reinventing our business outright, we have never strayed from the customer-service ethos and values on which the company was built -- trust, security, integrity, quality, good citizenship, respect and customer commitment.
Our vision is to become the world's most respected service brand, and our more than 65,000 employees around the world are helping us achieve that vision by meeting and exceeding our customers expectations. Our customers know the difference between ordinary and extraordinary customer care because our employees demonstrate it in every interaction. They have a passion to deliver their best, and their best is extraordinary.