American Express and accounts receivable automation firm Billtrust are working together to make it easier for suppliers to accept payments made through American Express virtual cards, the companies announced.
“With this integration, suppliers will have the ability to automate and accelerate virtual card payments from customers while receiving a real-time view of their outstanding invoices and current cash flow,” the companies stated in a prepared statement announcing the new partnership.
Colleen Taylor, president of global merchant services for the United States at American Express, said in a prepared statement: “In this current environment of increased demand for goods and services and an accelerated need for efficient payment processes, businesses are moving away from paper-based payments to electronic payments for the greater visibility and speed they provide. While this trend is helping to benefit business buyers and suppliers with faster payments and greater cash flow, it has left some suppliers in need of an automated accounts receivable solution that can keep up.”
Billtrust helps clients with credit decisions, invoice-issuing, payments processing and collections, among other services.
The company also offers clients access to its Business Payments Network, which the company stated in a news release “connects suppliers to hundreds of buyer portals and the buyers they represent, allowing unprecedented levels of invoicing and digital payment acceptance efficiency.”
Billtrust Chief Executive Flint Lane said in a prepared statement that both companies “recognize the need to support merchants and suppliers in responding to buyer demands for digital payment options.”
Billtrust is based in Lawrenceville, New Jersey.
The company states in marketing materials that it has 763 employees in seven countries.
The company lists partners including Visa, KeyBank, Commerce Bank, Coupa, Avalara and Acumatica.
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