American Express Global Pay for Small Businesses Launches
AMEX global payment app

American Express Global Pay for Small Businesses Launches

A new offering from American Express is aiming to make international business-to-business payments easier for owners. This week, the company announced the launch of Global Pay. Using this digital platform, U.S. small businesses can make secure B2B payments to suppliers in more than 40 countries. With the mobile-friendly service, businesses will be able to see exchange rates at the time that they create payments and will be able to view an estimated payment delivery date. For select countries and currencies, same-day business payments may also be available.

Global Pay is now being offered to Amex Small Business Card members. What’s more, eligible cardholders can earn Membership Rewards points on the Global Pay transactions they make. To celebrate the launch, currently (through the end of the year) small businesses will enjoy a 90-Day waiver of American Express fees on foreign exchange payments after they are approved for American Express Global Pay. Card members can apply for Global Pay on the Amex site.

The arrival of Global Pay comes as a recent American Express survey found that U.S. small businesses are discovering a greater need for international payment solutions. According to the survey, 64% of business owners stated that they expect to spend more with businesses outside of the United States over the next six months.

Furthermore, 43% said that the reason behind this increase was due to a wider range of products and services available, while 35% said that supply chain diversification was their reason for exploring international B2B transactions. However, 27% of respondents reported that making cross-border payments was complex, with 48% saying they were looking for a payment service with transparent fees.

Commenting on the debut of Global Pay, American Express’s EVP of Global Commercial Services Dean Henry said, “Businesses today start, grow, and compete on a global scale.” Henry continued, “Our U.S. Small Business Card Members told us they want an international payment solution focused on simplicity, convenience, and the chance to earn rewards – so we built American Express Global Pay to enable these businesses to easily and effectively manage their B2B payments globally on a secure platform, backed by the trusted service and unique benefits of American Express Membership.”

While cross-border payments may not be something that all small businesses have to deal with, those who do may find value in American Express’s latest offering. Specifically, the platform could definitely be beneficial for small business owners that are part of the Amex ecosystem — especially since they could earn Membership Rewards points. With Amex offering a 90-Day waiver of its fees for a limited time, it may be worth giving the service a shot before the year’s end.

Leave a Reply

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

A Guide to Building Credit and Increasing Your Credit Scores

When it comes to credit, there’s some good news. The average credit score in the United States has been steadily rising in recent years, coming in at 715 in 2023. That may be because, today, consumers not only have more ways to access their credit reports and scores than ever before but also because there are an increasing number of options that Americans have for building credit in the first...

2024 SoFi Checking and Savings Review

Ever since I started taking an interest in the FinTech sector, one company whose name I’ve seen pop up over and over again is SoFi. Lately it seems as though that theme has been sent into overdrive as the company has not only become a household name thanks to its stadium naming rights deal but also because of the company’s continued product expansions. The most interesting development in my mind...
Brim logo

Brim Financial Raises $85 Million as It Eyes Global Expansion

Toronto-based FinTech infrastructure startup Brim Financial has announced a new funding round. About the round: Brim has revealed an $85 million round. The Series C was led by EDC Investments while new investor Vistara Growth and returning investors White Owl Group, Epic Ventures, and Zions Bank also participated. To date, the company has now raised $110 million including a Series B in 2021. According to Brim, the latest funding will...
Chase Freedom Flex card

Chase Reveals Q2 2024 Freedom 5%(+) Bonus Categories

Chase has announced its bonus category picks for the second quarter of 2024 — including some interesting twists. About the categories: As April approaches, Chase has revealed what categories Freedom and Freedom Flex cardholders can earn bonuses on. From April 1st through June 30th, customers can earn 5% (or more) in three categories: Amazon.com, Hotels, and Restaurants. Similar to how Chase embraced a "New Year, New Me" theme last quarter,...
Rent Day

Bilt Announces Home Collection Deal for May 2024 Rent Day

For May's Rent Day, Bilt is offering a deal that will allow members to decrease their rent bill while also adding to their home decor. About the Home Collection offer: Bilt has crafted a unique Rent Day offer for May 2024. Through the 1st, when Bilt members redeem their points toward rent payments, they'll receive the same number of points to be used toward Bilt Home Collection items. To take...