American Express (NYSE:AXP) shares were flat Tuesday, as the leader in global business payments and Emburse, a leading provider of travel and expense software, are partnering to offer end-to-end virtual card issuance, card reconciliation, and expense management in Emburse Spend, an all-in-one expense management solution, to American Express customers.
Customers can now connect their American Express Card programs to Emburse Spend. Card Members can enroll their eligible commercial American Express Card to issue American Express virtual Cards (a dynamic payment option that replaces a physical card number with a digital card number) on demand within the platform. Expenses from Cards and virtual Cards will automatically enter the accounting system for easy reconciliation. Enrollment required and fees may apply.
The partnership is aimed at eligible American Express® Business, Corporate, or Corporate Purchasing Card customers seeking a single solution for virtual card issuance, card reconciliation, and expense management.
It offers streamlined processes and approvals: The integration pre-codes every eligible American Express transaction with vital expense information (category codes, custom expense fields), making expense submissions and approvals effortless.
American Express virtual Cards help businesses maintain control over budgets and securely manage recurring expenses and one-off vendor payments through unique tokens that have pre-set parameters for each Card, including budget, expiration, and per-transaction limits.
AXP shares eked up nine cents to $242.39.
