American Express and Coupa announced on November 6 the launch of the American Express virtual Card, which will serve as a payment method within Coupa’s business spend management (BSM) platform.
According to release: “The new payment integration with Coupa Pay, a set of payment and financial solutions within the Coupa BSM platform, is expected to first be available to American Express Corporate customers in the United Kingdom and Australia in late 2019 and the United States in mid-2020.”
The partnership between the two companies is aimed at providing companies the ability to more effectively manage payments from suppliers.
Dean Henry, executive VP of business financing and supplier payments at American Express, stated:
“Our priority is to seamlessly unify the buyer and supplier customer experience and as part of this mission, we seek to partner with innovative companies who help to make electronic business payments easier.
“Coupa’s cloud-based BSM platform rates high on usability so it’s no wonder they have a fast-growing customer community. Coupled with the unprecedented backing, service, and security from American Express, we’re combining the best of both brands so that our mutual customers can benefit from a better electronic payment experience.”
Companies can use American Express virtual Cards to make payments to suppliers for spend that goes through Coupa’s platform. Virtual Cards can easily be sent to suppliers after a company’s eligible American Express account has been linked to Coupa Pay.
JR Robertson, VP at Coupa Pay, noted:
“We launched Coupa Pay to fix the fragmented business payments process because we knew there was a better way for buyers and suppliers to interact at this critical step. American Express, an iconic, global payments brand that believes in helping their customers thrive, is a strong partner to help us continue driving forward our mission. Together, Coupa and American Express will empower businesses around the world to pay simpler, smarter, and faster.”