American Express introduced first accounts payable solution

The solution is designed to work with businesses’ existing accounting systems

American Express

American Express introduced first accounts payable solution. Source: shutterstock.com

American Express has launched American Express One AP, its first proprietary automated accounts payable (AP) solution. It allows US businesses to process supplier payments more easily and efficiently.

American Express One AP is built on the technology acquired as part of the company’s purchase of acompay a year ago. It offers complete end-to-end payment processing supporting multiple payment methods, including virtual card payments, checks, and ACH.

Amex One AP is the continuation of our journey to digitize payment processes and become an essential part of our customers’ businesses. By automating the accounts payable process with an innovative, end-to-end solution, One AP makes it easier for businesses to pay for what they need to operate and ultimately grow. Over the past several years, we have provided our customers access to a range of digital payment tools through a number of ‘beyond the card’ offerings and B2B partnerships. We are excited to launch Amex One AP, automated accounts payable solution fully backed by the service and security of the American Express brand
Trina Dutta, Vice President/General Manager B2B Payments Automation, Global Commercial Services at American Express

We’ve reported that 38% of US companies have begun automating their accounts payable processes, compared to just 24% in 2019. Another 20% are anticipated to do so within the next two years.

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