SAN MATEO, Calif., Oct. 19, 2020 /PRNewswire/ -- 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virtual Cards in the U.K. and Australia, and simplifies outdated, complex,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 Software
Coupa 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 Express
American 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