American Express and MineralTree have announced an integrated solution that is designed to bring efficiency to everyday accounts payable (AP) processes. The partnership provides organisations with a platform that incorporates their American Express Corporate Card into their normal AP workflows. This enables companies to streamline the supplier payment process while receiving the benefits of paying by card, including earning statement credits or Membership Rewards points, increasing working capital, and optimising cash flow.
The collaboration between American Express and MineralTree will present an out-of-the-box solution with embedded American Express virtual card payments. The integrated offering, available on the MineralTree platform, will provide the security of American Express virtual card technology, which generates a single-use card number for each transaction. It also provides two-way synchronisation with common accounting systems. In addition, the MineralTree platform offers two-factor authentication, two-factor payment verification, payment limits, and integration with bank Positive Pay. The platform also provides automated invoice data capture and invoice approval workflows to streamline the accounts payable process.