The partnership is aimed at providing suppliers who use the functionality of American Express virtual cards with access to Versapay’s collaborative accounts receivable (AR) network of buyers and suppliers.
Through Versapay’s AR automation solution American Express is helping suppliers to increase efficiency, accelerate cash flow, and improve customer experiences in the invoice to cash cycle.
The program also includes Versapay’s ePayment Delivery Service (ePDS), which eliminates email-based payment delivery and automates the processing and reconciling of virtual card payments. ePayment Delivery Service ingests, transforms, and delivers remittance data directly to suppliers. With available straight-through-processing, ePDS can fully automate virtual card acceptance.
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