New York Times: George Waters

The New York Times highlights the contributions of George Waters to the success of American Express.

American Express hired Mr. Waters as general manager of its credit card division in 1961. At the time, credit cards were accepted primarily by restaurants, and Visa and MasterCard did not yet exist. Diners Club was the card that had the most members. Mr. Waters gave the American Express card a significant lift by persuading American Airlines to drop its credit card and begin accepting the American Express card. Other airlines soon followed. To strengthen the credit card division, Mr. Waters significantly increased its annual fee, reduced the number of delinquent accounts and improved its accounting system. Under his leadership in the 1960's and 1970's, the American Express card became a global brand and the flagship product of the American Express Company.