The news: American Express partnered with spend management specialist PayEm to give business customers more ways to manage their spending, according to a press release.
Here's how it works:
Why it’s worth watching:
The bigger picture: Amex is focusing on small and medium-sized businesses (SMBs), and its tie-in with PayEm makes its offering more appealing to prospective customers. That should generate an acquisition pipeline that could lead to longer-term customer relationships.
Dig deeper: Check out our Small-Business Payment Disruptors 2023 report to learn why firms are turning to all-in-one platforms and how payment providers should develop them.
This article originally appeared in Insider Intelligence's Payments Innovation Briefing—a daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
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