American Express (NYSE:AXP) today announced new capabilities to help U.S. commercial customers simplify payments and give them more options to efficiently manage spending in their financial software of choice with American Express® Virtual Cards.
Virtual cards are a fast-growing commercial payment method that offer greater control through adjustable spending limits and added security through unique digital card numbers.
Amex Corporate customers can now create, manage and use Amex Virtual Cards in Amex’s software platform, @ Work, which customers can use to manage their Corporate Program. In addition, customers who use Amex’s Business Travel Account with Virtual Payments (BTA), a centrally billed account for business travel payments, can now create, manage and use Amex Virtual Cards with solutions from Conferma, a leader in virtual payments technology.
"Businesses want to simplify how they pay for things while maintaining control and visibility into spending across employee expenses, supplier payments and business travel," said Eva Reda, Executive Vice President, Global Commercial Services Products, American Express.
"Virtual cards can help solve many of these challenges, which is why we're making it easier for customers to create and manage them in the software and digital wallets they’re already using while preserving the trust, security and service our customers expect from Amex."
AXP shares lost 40 cents to $343.68.
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