Collaborating to Unlock a Whole New Set of Payment Powers

There might be plenty that human beings can do well, but there is little we do better than growing on a consistent basis. This progressive approach, on our part, has already got the world to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the goods. The same has grown increasingly evident over the recent past, and assuming one new fintech-themed development shakes out just like we envision, it will only make that trend bigger and better moving forward.

PayEm, a global procurement and spend management company, has officially confirmed the release of a new integration with American Express to help conceive an expanded set of payment options. According to certain reports, the stated integration will empower American Express® Corporate and Business Card Members in terms of creating and distributing on-demand virtual cards to employees, freelancers, candidates, or other authorized users for business payments and expenses in PayEm’s platform. But what are some granular-level features coming into play here? Well, we begin from how, owing to this development, the employers will be able to automate reimbursement filing for both one-time and recurring expenses such as meals, business travel, office supplies, and more. Next up, it should create specific controls for each on-demand virtual card payment, including spending limits, expiration dates, and compatible merchant categories etc. Interestingly enough, a business can also use the newly-introduced on-demand virtual cards to leverage its existing American Express billing cycle and pay suppliers on time without hurting its cash flow in any way whatsoever. Hold on, we aren’t done yet. The integration will further let you earn rewards on your eligible American Express Card even when you are actually using the said virtual cards. In case the whole value proposition is still not attractive enough for you, then we must acknowledge that it will be served alongside a foolproof brand of security, considering the integration will remove any need for merchants to see or store their American Express Card account number.

“We are teaming up with American Express to give our customers access to the control, enhanced security, and cash flow management that come with using an American Express virtual Card, alongside the visibility and control customers gain from PayEm’s Spend Management and Procurement Platform,” said Itamar Jobani, CEO and Co-Founder at PayEm. “The integration helps us provide an elevated user experience and more value to our customers.”

Founded in 2019, PayEm’s rise to prominence is rooted in its industry-leading ability to automate the entire request to reconciliation process. Not just that, the company’s proprietary platform also boasts a respectable knowhow when it comes to optimizing employees’ overall spending patterns, while simultaneously giving finance and procurement teams a comprehensive glance into the same. Such a framework has got PayEm to scale up process efficiencies, reduce risk, and lower operating costs for its customers by a significant margin.