Following this launch, American Express will focus on providing fintech companies and enterprises with more B2B capabilities, in order to enable customers and clients to access more offerings from the platforms they use to run their businesses.
The Sync Commercial Partner Program offers software providers an easy and efficient manner to embed the American Express virtual cards into their own spend management, procurement, as well as other businesses' software solutions and services. Furthermore, additional business-to-business payment methods and data capabilities can be integrated into the virtual cards.
Partners and companies will be given the possibility to access the modern APIs offered by Sync, as well as a secure streamlined onboarding experience and multiple tools, such as accounts payable automation, spend management, expense management, and procurement.
The cards will be added to several types of mobile wallets and are set to be introduced in the market over the following months. According to the press release, several different companies are set to use the new Sync programme, including Eved, HQ, Melio, PayEm, and Centime.
Global integrated payments company that offers clients access to insights, products, and tools that were designed to improve their business development, American Express had multiple collaborations and product launches in the last couple of months, covering different geographic areas around the world.
In June 2023, Israel-based procurement and spend management enterprise PayEm announced its integration with American Express. The company’s corporate and business card members were set to have the ability to produce and distribute on-demand virtual cards for employees, freelancers, candidates, as well as other authorised users and customers. Cardholders and clients were offered the flexibility to utilise the cards for payments, transactions, and business expenses on PayEm’s platform, while also being able to use their existing American Express Card account.
Access Bank rolled out two new customer credit cards in June 2023, the Access Bank American Express Gold and the Metal Platinum card. The Nigeria-based bank aimed to improve its overall offering to its retail and private bank users and clients, which benefited from the Membership Rewards loyalty programme, as well as a wide range of travel or lifestyle features.
Earlier in the same month, American Express announced its partnership with US-based financial technology firm Envestnet | Yodlee for offering users new digital banking options and capabilities. The API-based integration was set to enable American Express clients to have security, control, as well as transparency over the shared financial data with their financial solution providers. The newly released digital banking services were made available without the risk of compromising the client’s overall account security.
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