American Express partners with Billtrust for accounts payable solution
Integration of payment methods in legacy ERP systems and expense management platforms has been on the rise as this not only simplifies the payments process but also gives access to clients for multiple payment methods.
This week, American Express has teamed up with B2B accounts receivable automation company Billtrust to enable suppliers to accept payments made via 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 – the U.S. at American Express.
Last week, CreditQ integrated its business credit management with Tally while Medius acquired OnPay Solutions.
Billtrust is an order-to-cash platform providing AR solutions which include credit decisioning, ordering, invoicing, payments, cash application and collections. It aids suppliers to network access to its Business Payments Network (BPN), connecting suppliers with buyers’ portals, and simplifying invoicing and digital payments.
In related news, American Express and Goldman Sachs announced a collaboration for corporate payments while it also teamed up with Extend to enable virtual cards for SMBs.
“This collaboration brings automation to American Express merchants and suppliers, helping create better outcomes and increased customer satisfaction”, said Flint Lane, CEO, of Billtrust.