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American Express Introduces Global Pay, a B2B Cross-Border Payment Solution for U.S. Small Businesses

Aug. 4, 2022
American Express Global Pay offers a digital self-service platform and opportunity to earn Membership Rewards® points, with some payments eligible for same business day delivery

A rapid wave of digitization over the last few years sparked a significant shift in how businesses make and receive payments. With businesses mobilizing to meet consumer demand and shoring up their supply chains by diversifying with global suppliers, more business-to-business (B2B) spending is happening online and internationally. This is especially true for the manufacturing industry, which relies on the accessibility of raw and processed materials from across the world. The impact of these changes is felt most by small- and mid-sized businesses (SMBs), many of which are now conducting global business and experiencing new, “big business” problems at a smaller scale. SMBs need simple solutions tailored to them, and available at their fingertips.

Enter American Express Global Pay – a digital payment solution that enables U.S. businesses to securely[1] make domestic and international business-to-business (B2B) payments funded from their business bank account to suppliers in more than 40 countries, across a range of currencies, using a simple, mobile-friendly platform.

“Businesses today start, grow and compete on a global scale,” said Dean Henry, Executive Vice President of Global Commercial Services at American Express. “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.” 

According to a recent survey by American Express[2], 64% of U.S. small and mid-sized business owners and financial decision makers said they expect their total spend with businesses outside of the U.S. to increase over the next six months, and cite access to a wider range (43%) of products and services and supply chain diversification (35%) as some of the top business benefits of cross-border B2B spending.

The survey also revealed one quarter (27%) said complexity of the process is one of the top obstacles when making cross-border payments. When asked about what attributes they are looking for in a cross-border payment solution, nearly half (48%) said transparent fees and rates, on par with a simple user experience (44%). American Express Pay offers a self-service user experience ideal for busy business owners, who can access American Express Global Pay in the same place they manage their American Express Business Card account, including from their mobile device.

American Express Global Pay follows simple and intuitive steps, helping business owners reduce the risk of common errors and delays with fields that dynamically update based on the country of payment[3]. And payments may be eligible for same business day delivery through American Express Global Pay’s connection to faster payment systems, such as SEPA Instant Credit Transfer, which includes all of the European Union — with an estimated delivery date provided when an order is placed[4].

Business owners can access transparent exchange rates and send payments with peace of mind knowing they have the powerful backing and dependable customer service of American Express. What’s more, eligible customers can earn 1 Membership Rewards® point for every $30 equivalent on their foreign exchange payments[5] (maximum of 4,000 points per payment).

With the introduction of Global Pay, American Express empowers small businesses to think big and go global, easily making B2B payments how they want, where they want, and when they want. To learn more about American Express Global Pay or apply online, visit American Express Global Pay.

[1] American Express Global Pay incorporates encryption, both for stored data (such as account information) and for payments created and transmitted in real-time. The American Express Global Pay platform is deployed within American Express’ state of the art data center that features advanced online and offline security and monitoring against internet attacks. American Express Global Pay implements American Express standards relating to information integrity, transaction security and information security.

[2] American Express Global Payment Solutions Survey, June 2022

[3] Payments are subject to various reviews and delays can happen for a number of reasons. The recipient bank has its own policies on when to make funds available to the recipient of the payment.

[4] Same business day payments not available for all customers/payments.  When a customer creates a payment using American Express Global Pay, American Express provides an estimated delivery date, which takes into account factors such as the size of the payment, the time of day and relevant holidays.  American Express does not guarantee the delivery date. Payments are subject to various reviews and delays can happen for a number of reasons. The recipient bank has its own policies on when to make funds available to the recipient of the payment.

[5] American Express awards one (1) Membership Rewards point for every USD $30 equivalent of foreign exchange payments that the customer sends using American Express Global Pay. The maximum award per payment is 4,000 Membership Rewards points. Other terms apply.

Terms and Conditions for the Membership Rewards® program apply. Visit membershiprewards.com/terms for more information. Participating partners and available rewards are subject to change without notice.

The value of Membership Rewards points varies according to how you choose to use them. To learn more, go to www.membershiprewards.com/pointsinfo.

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