American Express rolls out a new digital B2B payments ecosystem

The plethora of features that Amex offers

Company officials stated that their Amex network participants have access to not only reliable payment rails with low fraud rates, but also the Amex issuing and acquiring expertise, as well as unique Amex benefits. As B2B payments rapidly digitise, they see an opportunity to add a customised solution for their network participants. Amex Business Link modernises how businesses buy and sell from one another with the flexibility to choose in real-time how they want to pay or be paid.

For network participants, Amex Business Link offers:

• Digital onboarding of buyers and suppliers;

• Lending solutions that give buyers and suppliers access to working capital;

• Access to more commercial customers on the American Express network;

• Hands-on training, onboarding, and service for third party issuers and acquirers providing Amex Business Link to their business customers.

For buyers and suppliers, the solution provides:

• An easier and safer way to manage their payments and connect directly with other businesses through the ecosystem;

• Seamless connectivity to ERP/CRM systems via APIs;

• Multiple payment methods including card, ACH, wire, check etc;

• Purchases and sales insights that allow companies to monitor growth;

• Access to dynamic reports that allow automatic reconciliation;

• Amex Business Link is currently operating with more than 500 business customers across five countries.

American Express facilitates Square in launching a new credit card

In November 2022, US-based payments platform Square has partnered with American Express to launch a new credit card built for Square sellers on the American Express network.

The card will be the first Square credit card offered to its small business owners’ community in the US and it will integrate directly with the company’s extensive ecosystem of solutions, enabling sellers to organise their finances and manage their cash flow from the same platform they use for running their business. 

The Square Credit Card will be available to US-based Square eligible sellers and will enhance Square’s suite of banking solutions. The card will be powered by i2c and will be issued by Celtic Bank; additional details about the card and its benefits are set to be announced by Square in 2023.