American Express has integrated its virtual cards with technology company Coupa Software’s business spend management (BSM) platform.
The virtual cards will be available with the platform’s payment and financial solutions, called Coupa Pay, to allow merchants to manage supplier payments.
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Initially, the integrated payment option will be accessible for American Express corporate customers in the UK and Australia. The company plans to bring the solution to its US customers next year.
American Express executive vice-president of Business Financing & Supplier Payments Dean Henry said: “Coupa’s cloud-based BSM platform rates high on usability so it’s no wonder they have a fast-growing customer community.
“Coupled with the unprecedented backing, service and security from American Express, we’re combining the best of both brands so that our mutual customers can benefit from a better electronic payment experience.”
As part of the partnership, businesses can use American Express virtual cards for supplier payments made with the Coupa platform. Customers can link their American Express to Coupa Pay in order to automatically send virtual cards to suppliers.
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By GlobalDataFor businesses, the integrated solution is expected to cut fraud and offer visibility into the payment process. It will also enable automated invoice matching and reconciliation, along with cash flow tracking.
Coupa vice-president of Coupa Pay JR Robertson said: “We launched Coupa Pay to fix the fragmented business payments process because we knew there was a better way for buyers and suppliers to interact at this critical step.
“Together, Coupa and American Express will empower businesses around the world to pay simpler, smarter, and faster.”
Last month, American Express partnered with credit reporting start-up Nova Credit to help immigrants obtain a credit card in the US.
