American Express teams up with Versapay

Wednesday 11 May 2022 11:02 CET | News

American Express and Versapay, the Collaborative Accounts Receivable company, have announced a new agreement.

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. 

Additionally, suppliers that are referred to Versapay’s AR Automation platform through American Express can take advantage of exclusive, preferred pricing for Versapay’s platform services. Versapay’s AR Automation platform is an end-to-end solution that streamlines and automates every part of the AR process, from invoicing to payment and cash reconciliation.     

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Keywords: B2B payments, virtual card
Categories: Banking & Fintech
Companies: American Express
Countries: World
This article is part of category

Banking & Fintech

American Express

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