American Express and Bill.com have announced a partnership to introduce an accounts payable solution to joint customers.
In a press release on Tuesday (Feb. 5), the companies revealed the rollout of American Express Vendor Pay by Bill.com. The solution allows Bill.com users to pay suppliers via American Express Business or Corporate Card using virtual card technology, negating the need for companies to open a new card account.
Joint customers will also have the option to pay using Bill.com's ACH and check payment functionality. Bill.com provides firms with a unified interface through which they can manage and obtain real-time status updates on invoice payments.
"As businesses grow in size, their accounts payable needs become more complex, driven by more vendors and more invoices," explained American Express Global Commercial Services Executive Vice President E-Bai Koo in a statement. "As a partner to businesses around the world, we strive to make it easier for customers to get business done. We're excited to build a long-term partnership with Bill.com, a leader in digital business payments, to offer our cardmembers a streamlined approach to vendor payments."
"The Bill.com and American Express partnership is a powerful combination of two innovators and leaders in business payments," added Bill.com Founder and CEO Rene Lacerte in another statement. "American Express Business and Corporate Card members will now have a central platform for managing digital business payments via Bill.com, with the added benefits of earning the rewards of their card and automating their manual and time-consuming back office processes."
In December, Bill.com partnered with Comdata in another move to integrate virtual card payment capabilities into its B2B payments platform.
American Express has also broadened its footprint in the B2B payments space as of late, recently launching Early Pay, a supply chain financing and early payment discount solution for companies that want to pay vendors more quickly while securing a discount on invoices. Large corporates can access invoice financing on their U.S.-based invoices, while the solution encourages accelerated payments to vendors.