American Express is expanding its virtual card options for US business and corporate customers. Specifically, Amex is launching a new suite of B2B apps for fintechs.

The Amex Sync Commercial Partner Program aims to give fintechs and software providers an easy and seamless way to embed American Express virtual Cards into their own spend management, procurement, and other business software solutions. Additional business-to-business (B2B) payment and data capabilities will be introduced in the coming months. This will include the ability for fintechs to integrate virtual cards that can be added to several mobile wallets.

Why it matters

Industry-wide, the transaction value for embedded B2B payments reached $700bn in the US in 2021. Amex forecasts that this number will nearly quadruple in size to $2.6trn by 2026. Sync opens up Amex APIs so fintechs can offer business customers digital-first B2B solutions within the platforms they already use.

Amex says Sync is unique in that it offers modern APIs, robust developer tools, and a streamlined onboarding experience. Plus, partners get support from a dedicated American Express contact, along with the scalable capabilities, powerful backing, and membership base of Amex.

Who it’s for

The Sync program is designed for technology organisations that serve businesses in the US. Ideal partners offer a range of solutions, such as accounts payable automation, expense management, spend management, and procurement.

“American Express Sync will put more B2B capabilities in the hands of fintechs and ultimately enable their customers to get more value from the platforms they use to run their businesses,” said Todd Manning, Vice President on the Global Commercial Services team at American Express.

“Our broad base of American Express US Business and Corporate customers will have more ways to pay their suppliers digitally.”

American Express Sync Commercial Partner Program: upcoming and early adopters

Centime, an all-in-one platform for accounts receivable, accounts payable, cash flow, and banking solutions, will use Sync to help small and medium-sized enterprises (SMEs) prioritise and pay their bills while maximizing every dollar.

BC Krishna, Founder and CEO of Centime, said: “We’re eager to integrate with American Express to bring virtual Card on-demand to our business customers. The American Express Sync Commercial Partner program will make it easy for us to prioritise the needs of our customers by offering enhanced security with the use of unique virtual card numbers, as well as convenience and flexibility.”

Eved and HQ

Eved, a global accounts payable and payments platform for events, media, and entertainment, will use Sync so their customers can use American Express to pay thousands of venue, catering, and other events vendors without leaving the Eved platform.

Talia Mashiach, CEO, Founder & Product Architect, Eved said: “American Express and Eved are joining forces to make paying suppliers easier for the meetings and events industry. By integrating American Express virtual Cards as a payment option within Eved, customers will be able to manage budgets, pay vendors, bid farewell to manual statement reconciliation, seamlessly integrate with enterprise resource planning systems for automatic coding, unveil detailed spend visibility, and tighten controls and compliance with company policies.”

HQ, a global booking, billing, and payment platform for corporate ground transportation, will use Sync to enable customers to use virtual Cards to pay for mobility services including taxis, private car hire, ride-hailing, and corporate shuttles.

Amiad Solomon, CEO of HQ, said: “As a leading corporate ground transportation platform, the integration with American Express will allow our clients, both large and small businesses, to quickly and securely make virtual Card transactions within HQ SummitGround. Together with American Express, we are committed to optimising cost savings, travel policy compliance, and payment transparency while enabling spend and emissions visibility globally.”

Melio and PayEm

Melio, an online platform that enables SMEs to quickly and seamlessly transfer and receive payments, will use Sync to help create a new browser extension for American Express US Corporate and Business customers to use virtual Cards to make business purchases.

Matan Bar, Co-Founder and CEO, Melio said: “The integration between American Express and Melio will provide small business owners with better control over expenses and payments to suppliers, along with enhanced security that keeps sensitive Card details private. With Melio’s new Secure Pay product and American Express Business Cards, business owners can set spending limits and better manage their cash flow all while continuing to earn rewards on their eligible American Express Card.”

PayEm, a global spend management and procurement platform, will use Sync to help businesses automate and streamline vendor payments, employee spending, reimbursement requests, and budget control.

Itamar Jobani, CEO and Co-Founder, PayEm said: “Together, American Express and PayEm are providing customers with an intuitive way to manage payments, expenses, and cash flow by leveraging on-demand virtual cards. Our customers can now generate unique virtual card numbers for specific employee requests or vendor transactions, giving them greater control, enhanced security, and streamlined reconciliation.”