American Express and Goldman Sachs provide payment solution for corporations

The collaboration joins Goldman Sachs’ TxB platform with American Express’ card expertise and direct buyer and supplier relationships to create a digital treasury solution for large corporations. The solution will embed American Express’ virtual Cards for the first time into the Goldman Sachs TxB platform, which already offers ACH, wire, and foreign currency payments.

This new integrated payment solution will include:

• A simple ‘one flow’ process that combines payment activity, both virtual card and non-card, into a set of B2B payment instructions.

• Goldman Sachs TxB’s Intelligent Payments Engine, which will route payments to a particular payment channel in a manner that optimises a buyer’s preferences based on speed and cost.

• Buyer and supplier access to dashboards that provide spend data and analytics, as well as real-time updates on payment statuses.

• Actionable insights that will enable corporate CFOs to make more informed decisions for their companies.