Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook Follow The Paypers on Google +
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Cards

AmEx, WEX announce solution for accounts payable process via virtual cards

Tuesday 6 November 2018 | 12:10 PM CET

American Express and WEX have announced a new collaboration utilising the latter’s accounts payable technology, named Synaptic, via virtual cards.

Synaptic streamlines the accounts payable (AP) process by working with businesses’ existing accounting systems. Specifically, the solution will help American Express Business and Corporate Card customers make supplier payments via single and multi-use American Express virtual cards directly within Synaptic.

This integration provides customers with upgraded cash flow and the ability to earn rewards. Moreover, Synaptic helps reduce the time it takes for clients to pay their suppliers as it allows users to send payment instructions to Synaptic from their existing accounting system.

Once the payments are processed, American Express virtual card payments are sent directly to suppliers. In addition, users have the option of adding an approval workflow before sending payments and they can also gain access to detailed reporting to facilitate the reconciliation process.

More: Link
 advertisement
 advertisement
 advertisement
 advertisement