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American Express Teams Up with Versapay to Create a More Efficient Accounts Receivable Experience for Suppliers and Buyers

“American Express and Versapay, the Collaborative Accounts Receivable company, today announced a new agreement to provide suppliers who utilize the functionality of American Express virtual cards with access to Versapay’s world-class collaborative accounts receivable (AR) network of buyers and suppliers. “Business buyers are increasingly turning to virtual cards to make faster, more efficient payments while giving them flexibility and better cash-flow management. Suppliers are benefiting from these faster payments; however, the increasing volume of these transactions is making automating the receivables even more essential,” said Colleen Taylor, President, Global Merchant Services – U.S. at American Express. “Our collaboration with Versapay will enable us to offer a fully automated acceptance experience and further support our supplier network while helping to improve the B2B payments process.””