American Express announced partnership with Versapay. Source: shutterstock.com

American Express and Versapay have announced a new agreement. This will provide suppliers who utilize the functionality of American Express virtual cards with access to Versapay’s world-class collaborative accounts receivable network of buyers and suppliers.

Through Versapay’s AR automation solution, American Express is helping suppliers to increase efficiency, accelerate cash flow, and dramatically improve customer experiences in the invoice to cash cycle.

The program also includes Versapay’s ePayment Delivery Service (ePDS), which eliminates email-based payment delivery and automates the processing and reconciling of virtual card payments. ePayment Delivery Service ingests, transforms, and delivers remittance data directly to suppliers.

With available straight-through-processing, ePDS can fully automate virtual card acceptance.

Additionally, suppliers referred to Versapay’s AR Automation platform through American Express can take advantage of exclusive, preferred pricing for Versapay’s platform services. Versapay’s AR Automation platform is an end-to-end solution that streamlines and automates every part of the AR process, from invoicing to payment and cash reconciliation.

We’ve reported that Yapily will acquire finAPI, creating Europe’s leading open banking platform.

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