American Express launches B2B payments platform
AmEx Business Link is live at 500 business clients across five countries
American Express has launched business-to-business payments network AmEx Business Link, allowing commercial clients to support several types of payments including card, non-card, domestic and cross-border transactions.
The API-based solution connects to a variety of technology platforms and provides buyers and sellers the ability to choose in real time how they want to be paid.
“We developed AmEx Business Link so that our network partners can offer an automated and flexible B2B payments solution to their business customers that makes payments between buyers and suppliers easier and more efficient,” an American Express spokesperson told Bank Automation News.
The solution connects to buyer and seller platforms via APIs and supports 500 business clients in five countries, the spokesperson added. American Express declined to disclose names of the business clients utilizing the new platform.
Platform users will be able to track reporting and reconciliation capabilities as well as provide training and support for third-party issuers and acquirers who are offering Business Link to their customers, according to a release from AmEx.
The ability to add customizable parameters to how payments are sent and received was the focus of the launch as “AmEx Business Link modernizes how businesses buy and sell from one another with the flexibility to choose in real time how they want to pay or be paid,” Mohammed Badi, president of global networks at American Express, said in the release.
The New York City-based credit card giant began to tackle cross-border B2B payments this year and will use Business Link in conjunction with its U.S. small business B2B offering Global Pay platform, which launched in August.
The two payments offerings “digitize the formerly paper-heavy administrative processes associated with B2B payments,” the AmEx spokesperson told BAN.
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