• Credit card giant American Express launched its Sync Commercial Partner Program this week.
• The program offers a suite of APIs that fintechs can embed into their existing B2B apps and services, including spend management, procurement, and other B2B software solutions.
• As a result, businesses can access Amex tools and services within the fintech apps they already use.

American Express unveiled its Sync Commercial Partner Program today. The new program includes a suite of APIs that fintechs can embed into their own B2B apps, reaching business customers on the platforms they already use.

Using the Sync Commercial Partner Program, fintechs and software providers can embed Amex virtual cards into their own spend management, procurement, and other software solutions aimed at U.S. businesses. The Sync Commercial Partner Program is scalable to suit a range of fintechs’ needs; it offers robust developer tools, and comes with a dedicated Amex support contact. In a future iteration, Amex will enable fintechs to integrate virtual cards that can be added to several mobile wallets.

The card company said that it will add more B2B payment and data capabilities in the coming months.

“American Express Sync will put more B2B capabilities in the hands of fintechs and ultimately enable their customers to get more value from the platforms they use to run their businesses,” said American Express Vice President on the Global Commercial Services team Todd Manning. “Today’s announcement means that our broad base of American Express U.S. Business and Corporate customers will have more ways to pay their suppliers digitally.”

The use of embedded B2B payments has been expanding over the past few years. In 2021, the transaction value reached $700 billion in the U.S. By 2026, the value is expected to nearly quadruple to $2.6 trillion.

At launch, the Sync Commercial Partner Program has six early adopters– Centime, Eved, HQ, Melio, and PayEm. “Together, American Express and PayEm are providing customers with an intuitive way to manage payments, expenses, and cash flow by leveraging on-demand virtual Cards,” said PayEm CEO and Cofounder Itamar Jobani. “Our customers can now generate unique virtual Card numbers for specific employee requests or vendor transactions, giving them greater control, enhanced security, and streamlined reconciliation.”

Amex’s launch of its Sync Commercial Partner Program is the company’s latest move to boost its digital finance offerings. Last month, Amex partnered with Plaid to allow its customers to connect with Plaid’s 8,000+ connected apps without having to share their password with the third-party provider. And last spring, the card company launched American Express Global Pay, a cross-border payments tool for U.S. small businesses.

Listed on the New York Stock Exchange under the ticker AXP, American Express has a market capitalization of $124 billion. Stephen Squeri is CEO.

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• American Express is launching American Express Global Pay, a cross-border payments tool for U.S. small businesses.
• Businesses can use American Express Global Pay to pay suppliers in more than 40 countries and in 12 currencies.
• American Express did not disclose exact fees, but said that it will display the fees when the business is creating the payment.

American Express is helping small businesses keep up with global competition with its launch of American Express Global Pay, a new cross-border payments tool for small businesses based in the U.S.

American Express Global Pay allows U.S. businesses to make domestic and international B2B payments to suppliers in more than 40 countries and in 12 currencies using the mobile-optimized website. Eligible customers can earn one Membership Rewards point for every $30 in equivalent foreign exchange payments.

“Businesses today start, grow and compete on a global scale,” said American Express Executive Vice President of Global Commercial Services Dean Henry. “Our U.S. Small Business Card Members told us they want an international payment solution focused on simplicity, convenience and the chance to earn rewards – so we built American Express Global Pay to enable these businesses to easily and effectively manage their B2B payments globally on a secure platform, backed by the trusted service and unique benefits of American Express Membership.”

Available to eligible U.S. American Express Small Business Card Members, American Express Global Pay enables users to access the cross-border tool in the same location they manage their American Express Business account and offers same-day delivery of funds in select countries.

While American Express has not disclosed exact fees, the company said that it will display the fees when the business is creating the payment. “In addition to these fees, we also make money from the purchase and sale of foreign currency,” American Express said. “Recipient banks or intermediary banks may charge their own fees, which can reduce the amount delivered to your recipient.”

• American Express and Billtrust announced a partnership that will leverage automation to enhance acceptance of AMEX virtual cards.
• The collaboration is designed to meet the accounts receivable (AR) needs of suppliers who are experiencing faster payments and increased cash flow.
• A Finovate alum since 2015, American Express recently partnered with i2c to help fintechs and financial institutions develop solutions on its payments network.

A partnership between American Express and B2B accounts receivable (AR) automation and integrated payments innovator Billtrust will make it easier for suppliers to accept payments via AMEX’s virtual cards.

The integration, announced late last week, will enable suppliers to automate and accelerate virtual card payments and to benefit from real-time insight into their outstanding invoices and current cash flow. The partnership, according to AMEX President of U.S. Global Merchant Services Colleen Taylor, is designed to help suppliers keep pace with both an increased demand for products and services, as well as a need for faster, more efficient payment processes. This is due, Taylor suggested, in large part to the trend of businesses “moving away from paper-based payments to electronic payments for the greater visibility and speed they provide.”

Unfortunately, this trend of faster payments and larger cash flows also means that many companies have existing AR systems that are often inadequate. The partnership between American Express and Billtrust responds to this challenge by giving suppliers a complete solution that covers all aspects of the AR process, including credit decisioning, ordering, invoicing, payments, cash application, and collections. The partnership also will give suppliers access to Billtrust’s Business Payments Network (BPM), which boosts invoice and digital payment efficiency by connecting them with hundreds of buyers and buyer portals.

“Both Billtrust and American Express recognize the need to support merchants and suppliers in responding to buyer demands for digital payment options,” Billtrust CEO Flint Lane said. “This collaboration brings automation to American Express merchants and suppliers, helping create better outcomes and increased customer satisfaction.”

American Express has been a Finovate alum since 2015, when the company presented The role of B2B payments in the evolving commerce ecosystem at our developers conference, FinDEVr Silicon Valley. The company’s partnership news with Billtrust comes in the wake of a collaboration with digital payment and banking technology company i2c that will make it easier for fintechs and financial institutions to develop and scale products on AMEX’s global payments network. American Express trades on the NYSE under the ticker AXP, and has a market capitalization of $127 billion.

Photo by Taras Makarenko

• American Express partnered with Delta Air Lines to offer American Express’ buy now, pay later tool, Plan It, as a payment option at checkout.
• Plan It allows users to select from one to three repayment options and charges a fixed monthly fee.
• Plan It will be added as a checkout option on Delta’s mobile app this spring.

American Express and Delta Air Lines partnered this week to offer their shared customers a buy now, pay later (BNPL) option when booking flights on Delta.com’s web interface.

The partnership, which leverages American Express’ Plan It tool, enables American Express U.S. consumer card members to split up purchases of over $100 into equal monthly installments with a fixed fee.

Launched in 2017, Plan It allows customers to select from one to three repayment options, depending on factors such as the purchase amount, the cardholder’s account history, and their creditworthiness. Plan It charges a fixed monthly fee that is disclosed before the transaction.

As an added advantage over other BNPL plans, Plan It is built into the American Express card and does not require users to enroll, plus cardholders earn rewards as they usually do with their card payment. Further, cardholders do not need to keep track of additional payments, since they are included in their monthly statement.

As Anthony Cirri, Executive Vice President for Global Consumer Lending and Cobrand at American Express highlighted, the timing of the partnership is ideal. “It’s the perfect time to bring these together as people are booking long-awaited trips, and our card members can book with confidence knowing they are backed by the strong partnership between Delta and American Express.”

Plan It has benefited from the rising popularity of BNPL and alternative payment options. The volume of new plans originated in the fourth quarter of 2021 was more than double the volume in the fourth quarter of 2020. And 65% of plans originated in the last year were from new users.

Travelers will see Plan It as a checkout option on Delta’s mobile app this spring.

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