American Express Launches Mobile Friendly B2B Global Payments App for Small Businesses
American Express launches American Express Global Pay, a new digital solution that enables U.S. businesses to securely make domestic and international business-to-business (B2B) payments.
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Using this new simple, mobile-friendly platform, business customers can pay their suppliers in over 40 countries and across multiple currencies.
Eligible customers can also earn Membership Rewards® points on their foreign exchange payments.
“Businesses today start, grow and compete on a global scale.”Dean Henry, Executive Vice President of Global Commercial Services at American Express
“Our U.S. Small Business Card Members told us they want an international payment solution focused on simplicity, convenience and the chance to earn rewards.”
“[W]e built American Express Global Pay to enable these businesses to easily and effectively manage their B2B payments globally on a secure platform, backed by the trusted service and unique benefits of American Express Membership,” added Henry.
American Express Solves Painpoints for B2B Payments
64% of U.S. small and mid-sized business owners expect their total spending with businesses outside the U.S. to increase over the next six months, according to an American Express survey.
They cite access to a broader range (43%) of products and services and supply chain diversification (35%) as some of the top business benefits of cross-border B2B spending.
However, one-quarter (27%) said the complexity of the process is one of the top obstacles when making cross-border payments.
About half of respondents (48%) said they were looking for transparent fees and rates in a cross-border payments solution, along with a simple user experience (44%).
American Express Global Pay addresses these needs by providing:
- Integrated user experience: Access American Express Global Pay in the same place users manage their American Express Business Card account, including from a mobile device.
- Simple and intuitive steps: Pay suppliers effortlessly and reduce the risk of common errors and delays with fields that dynamically update based on the country of payment.
- World-class rewards: Eligible customers can earn 1 Membership Rewards® point for every $30 equivalent on their foreign exchange payments (maximum of 4,000 points per payment).
- Same business-day payments: Payments may be eligible for same business-day delivery through American Express Global Pay’s connection to faster payment systems, such as SEPA Instant Credit Transfer, which includes all of the European Union. American Express provides an estimated delivery date when customers place an order.
- Transparent exchange rates: Users can review and accept the exchange rate before sending payment.
- Trusted dependability: Send payments with the backing and servicing of American Express.
- Streamlined application process: Apply online and get a response in minutes.
With more small and medium-sized businesses embracing the growing international B2B eCommerce opportunity, the new American Express payments solution is tailormade for their businesses.
American Express Global Pay is now available to eligible U.S. American Express Small Business Card Members. The company expects to roll out the service to more countries over time.
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Editorial Note: This post is from a Company Press Release and may have been modified for clarity.