American Express and Goldman Sachs provide payment solution for corporations

Monday 25 October 2021 14:43 CET | News

US-based credit card network American Express and Goldman Sachs bank have announced a cloud-based solution to support multiple payment options and offer analytics for corporate clients.

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.

The solution is currently available to select clients and anticipated to launch for general availability in early 2022.

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Keywords: American Express, Goldman Sachs, partnership, treasury, ACH, cloud services, payment processing, data analytics
Categories: Payments & Commerce
Countries: United States
This article is part of category

Payments & Commerce