Today, American Express and Coupa announced the availability of the American Express virtual Card as a payment option within Coupa’s leading business spend management (BSM) platform.
The new payment integration with Coupa Pay, a set of payment and financial solutions within the Coupa BSM platform, is expected to first be available to American Express Corporate customers in the United Kingdom and Australia in late 2019 and the United States in mid-2020. The partnership will give businesses the ability to better manage supplier payments.
“Our priority is to seamlessly unify the buyer and supplier customer experience and as part of this mission, we seek to partner with innovative companies who help to make electronic business payments easier,” said Dean Henry, Executive Vice President of Business Financing & Supplier Payments at American Express.
“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.”
Using the American Express virtual Card solution in Coupa Pay is easy. Businesses will be able to use American Express virtual Cards to pay suppliers for spend that goes through the Coupa platform. Once the business' eligible American Express account is tied to Coupa Pay, virtual Cards can automatically be sent to authorized suppliers.
“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,” said JR Robertson, vice president of Coupa Pay, Coupa. “American Express, an iconic, global payments brand that believes in helping their customers thrive, is a strong partner to help us continue driving forward our mission. Together, Coupa and American Express will empower businesses around the world to pay simpler, smarter, and faster.”
Additional benefits from this integration include:
• Businesses who prefer American Express will benefit from increased security through American Express virtual Card payments, reduced fraud, visibility into the full payment process, automated invoice matching and reconciliation, and tracking to help manage cash flow. American Express customers will also receive servicing and supplier onboarding support from both Coupa and American Express.
• When paid with American Express virtual Cards, suppliers will get paid quickly and benefit from great visibility into their payment details.
More details of this partnership and availability of the integration in specific geographic markets will be shared when available.