AmEx launches cross-border B2B payments

American Express today launched American Express Global Pay, enabling its U.S. small business clients to securely send business-to-business (B2B) payments both domestically and internationally, joining the crowded field of big banks with its automated offering. “American Express Global Pay uses automation to support faster payment processing on available routes,” an American Express spokesperson told Bank Automation News . [caption id="attachment_57363740" align="alignright" width="300"] Photographer: Chona Kasinger/Bloomberg[/caption] The B2B digital solution was requested by cardmembers who told the company they “want an international payment solution focused on simplicity, convenience and the chance to earn rewards,” Dean Henry, executive vice president of global commerce services at American Express, said in a release. In fact, 64% percent of U.S. small and mid-sized business owners recently surveyed by American Express said they expect their spending outside of the U.S. to increase over the next six months, according to the release. The launch of the automated digital solution, which offers an integrated user experience, rewards, same-business-day payments, transparent exchange rates and a streamlined application process, is in line with other financial institutions that have recently implemented cross-border payment capabilities. Goldman Sachs , for one, recently partnered with capital markets technology derivatives services provider Derivative Path to offer regional and community banks access to in-house foreign exchange . Similarly, banks including Bank of America , JPMorgan and Wells Fargo took part in a pilot project with real-time payment network The Clearing House in May to offer immediate cross-border payments in dollars and euros . American Express Global Pay allows businesses to send payments in more than 40 countries, with additional countries and currencies to be added over time, according to the release. The automated capabilities offer U.S. small businesses access to faster global payments "versus traditional wires," the American Express spokesperson added. Bank Automation Summit Fall 2022, taking place Sept. 19-20 in Seattle, is a crucial event on automation and automation technology in banking. Early registration ends Friday, Aug. 5. <a tabindex="-1" title="https://bankautomationsummit.com/agenda/utm_source=Editorial&utm_medium=BAN_Site&utm_campaign=Editorial&utm_content=Agenda&__hstc=41615677.b514ac0ede9995604ba06ea6ba5cc44b.1650375449042.1659363800360.1659376328109.151&__hssc=41615677.1.1659376328109&__hsfp=415425915" href="https://bankautomationsummit.com/agenda/utm_source=Editorial&utm_medium=BAN_Site&utm_campaign=Editorial&utm_content=Agenda&__hstc=41615677.3fe700e68891f0bfd867036c89aa2d86.1650376353803.1659465723110.1659471739133.159&__hssc=41615677.22.1659471739133&__hsfp=1191625704" target="_blank" rel="noopener noreferrer" aria-label="Link Learn more">Learn more and <a tabindex="-1" title="https://bankautomationsummit.com/?utm_source=Editorial&utm_medium=BAN_Site&utm_campaign=Footer&utm_content=Home&__hstc=41615677.b514ac0ede9995604ba06ea6ba5cc44b.1650375449042.1659363800360.1659376328109.151&__hssc=41615677.1.1659376328109&__hsfp=415425915" href="https://bankautomationsummit.com/?utm_source=Editorial&utm_medium=BAN_Site&utm_campaign=Footer&utm_content=Home&__hstc=41615677.3fe700e68891f0bfd867036c89aa2d86.1650376353803.1659465723110.1659471739133.159&__hssc=41615677.22.1659471739133&__hsfp=1191625704" target="_blank" rel="noopener noreferrer" aria-label="Link register for Bank Automation Summit Fall 2022">register for Bank Automation Summit Fall 2022 .

AmEx launches cross-border B2B payments

Bank of America, Goldman Sachs, JPMorgan and Wells Fargo have also taken on global payment solutions

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Mastercard’s Finicity SVP of data access to speak at Bank Automation Summit Fall

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AmEx launches cross-border B2B payments

Bank of America, Goldman Sachs, JPMorgan and Wells Fargo have also taken on global payment solutions

Robinhood crypto unit fined $30M by New York regulator

Mastercard’s Finicity SVP of data access to speak at Bank Automation Summit Fall

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