PayEm integrates with American Express

Following the integration, American Express corporate and business card members will have the ability to produce and distribute on-demand virtual cards to employees, candidates, freelancers, and other authorised users. Cardholders will reportedly have the flexibility to utilise the cards for payments and business expenses on the PayEm’s platform while using their existing American Express Card account.

In the company press release, officials from PayEm outlined that the collaboration with American Express aims to provide their customers with the necessary security and cash flow management usually associated with owning an American Express virtual Card, as well as the transparency and control that users gain when using PayEm’s Spend Management and Procurement Platform.

According to the same representative, the integration is expected to enable both companies to deliver an enhanced user experience to their clients and to reportedly maximise the value that they offer to their customers.

A detailed overview of the card members' benefits

The new American Express Integration will allow card members access to a reportedly extensive array of benefits. 

For instance, the integration will facilitate the automatisation of reimbursement fillings for employees. This will be achieved by providing employees with on-demand virtual cards that can be utilised for one-time or recurrent payments such as purchasing office supplies, meals, or paying for business travel. 

Moreover, those who generate a new virtual card will be able to establish specific controls for each on-demand virtual card payment. Some of the details that they will be able to control include spending limits, expiration dates as well as allowed merchant categories.

Card members will additionally be able to make payments to suppliers using these cards and they will be able to leverage their American Express billing cycle to manage the cash flow for their businesses until card payment is due. 

Also, card members using their on-demand virtual card for business payments will be able to earn the rewards of their eligible American Express card. However, this feature is solely applicable to specific cards that qualify for earning rewards. 

Finally, they will be able to make secure payments, as the new cards will make it unnecessary for merchants to see or store their American Express Card account number. 

Earlier in 2023, before news of this integration, PayEm garnered attention after it was revealed that the fintech received USD 220 in equity and debt. At the time this announcement was made, the company stated that it aimed to use the new funds to grow its card operations.