American Express Company (NYSE: AXP) today announced a collaboration with Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, to enable suppliers to streamline acceptance of American Express virtual cards.
With this integration, suppliers will have the ability to automate and accelerate virtual card payments from customers while receiving a real-time view of their outstanding invoices and current cash flow.
“In this current environment of increased demand for goods and services and an accelerated need for efficient payment processes, businesses are moving away from paper-based payments to electronic payments for the greater visibility and speed they provide,” said Colleen Taylor, President, Global Merchant Services – U.S. at American Express. “While this trend is helping to benefit business buyers and suppliers with faster payments and greater cash flow, it has left some suppliers in need of an automated accounts receivable solution that can keep up.”
Billtrust’s leading order-to-cash platform offers suppliers a complete solution for every accounts receivable (AR) process including credit decisioning, ordering, invoicing, payments, cash application and collections. It also includes access to Billtrust’s Business Payments Network (BPN), which connects suppliers to hundreds of buyer portals and the buyers they represent, allowing unprecedented levels of invoicing and digital payment acceptance efficiency. By simplifying and automating B2B commerce, Billtrust helps companies transition from expensive paper invoicing and check acceptance to efficient electronic billing and payments.
“We are proud to partner with American Express to continue to grow supplier card acceptance and improve the digital payments experience,” said Flint Lane, CEO, Billtrust. “Both Billtrust and American Express recognize the need to support merchants and suppliers in responding to buyer demands for digital payment options. This collaboration brings automation to American Express merchants and suppliers, helping create better outcomes and increased customer satisfaction.”
Suppliers interested in learning more should reach out to their dedicated American Express client manager for information.