First announced in 2019, Coupa (NASDAQ: COUP) and American Express (NYSE: AXP) are taking their partnership to the next level as U.S.-based customers can now use American Express virtual Cards as a payment option with Coupa's business-to-business (B2B) payments solution, Coupa Pay. This news builds on the initial availability of American Express virtual Cards in the U.K. and Australia, and simplifies outdated, complex, and inefficient payment processes for businesses around the world.
Demand for the American Express virtual Card payment with Coupa Pay is continuing to grow across the U.K. and Australia, with customers streamlining how they pay suppliers for all spend that goes through the Coupa Business Spend Management (BSM) Platform. As many companies continue to accommodate largely remote workforces for the foreseeable future, the expansion into the U.S. continues to help meet the demand of customers who need a virtual way to pay suppliers and ensure their business continues to be operational.
"The pandemic has created widespread work from home policies, meaning previously fragmented and manual business payment processes are no longer an option," said JR Robertson, vice president of Coupa Pay at Coupa. "With Coupa Pay, Coupa and American Express are making it easier for our joint U.S. customers to thrive in this challenging environment by empowering them to pay using virtual Card technology. Now, every transactional step in the business spend management process can be done smarter and simpler."
Using the American Express virtual Card solution in Coupa Pay is easy. Once the business' eligible American Express account is tied to Coupa Pay, virtual Cards can automatically be sent to authorized suppliers and can be used for quick and easy payments for in-demand items, providing greater visibility into payment details.
"Our expanded partnership with Coupa is the latest step in our strategy to accelerate investments in the B2B payments space to better serve our customers and offer best-in-class digital payment solutions," said Trina Dutta, vice president and general manager of B2B Payments Automation, Global Commercial Services at American Express. "By integrating American Express virtual Card capabilities into the unified buyer and supplier experience of Coupa's fast-growing BSM platform, we're addressing our customers' need to digitize payments and thereby becoming more essential to their operational needs."
Additional benefits of this integration include:
-- Extended pre-approvals for card spend, which increases visibility into spend across the organization.
-- Enhanced security when paying suppliers using virtual Card technology that generates a unique American Express Card number for each transaction.
-- Increased visibility into the full payment process while automating invoice matching and reconciliation to improve efficiency.
-- Streamlined payments and greater visibility into payment details for suppliers.
-- Use of the card's payment cycle to better manage working capital for buyers.
To learn more about the American Express and Coupa Pay solution, visit https://business.americanexpress.com/us/payment-solutions/coupapay.
To learn more about the Coupa BSM Platform, which empowers the world's most successful organizations with the visibility and control they need to manage all their spend in one place, visit https://www.coupa.com/.
About Coupa SoftwareCoupa empowers companies around the world with the visibility and control they need to spend smarter and safer. To learn more about how Coupa can help you spend smarter, visit www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.
About American ExpressAmerican Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.
Key links to American Express products, services and corporate responsibility information: charge and credit cards, business credit cards, travel services, gift cards, prepaid cards, merchant services, Accertify, InAuth, corporate card, business travel, and corporate responsibility.
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SOURCE Coupa Software