Regal Software Technologies and American Express AXP today announced they are offering business customers a simple, automated way to pay suppliers with an eligible¹ American Express® Corporate Card. Instead of a manual payment process, customers can now send secure supplier payments through the RegalPay platform with just a few clicks.
The offering, RegalPay Payables Automation with American Express, is a universal software adapter that connects accounts payable systems directly to American Express. The integrated solution requires little or no customization to a business customer's existing accounts payable system.
"American Express is committed to providing holistic business-to-business payments solutions that meet the needs of our corporate clients," said Gint Balodis, Vice President, B2B Products, American Express Global Commercial Payments. "This integration allows companies to electronically pay suppliers right from their accounting software in RegalPay, simplifying and streamlining their B2B payments process."
RegalPay Payables Automation with American Express enables businesses to pay their suppliers through American Express Virtual Card capabilities, in which each payment is issued a single-use account number, a fixed authorization amount, and an expiration date. This process provides enhanced security for both the supplier and buyer and reduces errors and fraud.
The solution also allows customers to pull payment batches directly from their accounting system and pay multiple invoices at once without calling, faxing, or emailing their Card payments.
RegalPay monitors the status of each transaction once the payment is transmitted. When a payment clears, its status is automatically downloaded and reconciled in the RegalPay software, further reducing the possibility of errors as the reconciliation process is automated rather than a traditional manual process.
"Customers will now be able to optimize their American Express Corporate Card experience using the RegalPay solution," said Kofi Conduah, CEO of Regal Software. "Enhanced automation, security, and efficiency are at the core of RegalPay. We are excited to collaborate with American Express to offer this innovative solution to the corporate payment space."
To learn more about RegalPay Payables Automation with American Express, corporate customers can contact their American Express representative or call +1-855-407-0674.
¹ Users must sign up for RegalPay and enroll their Card for American Express® tokenization. Installation required to integrate with ERP system. Additional terms and conditions apply.
About Regal Software Technologies
Regal Software is an independent software provider headquartered in Atlanta. The company is a leading provider of software that integrates ERP systems with treasury management solutions offered by major financial institutions. RegalPay®, the company's universal application, has been integrated with more than 55 major accounting systems and manages over $3 billion in enterprise B2B payments annually. For more information, visit www.regal-software.com
About American Express Global Commercial Payments
Through its Global Commercial Payments division, American Express offers a suite of payment and lending products that help businesses and organizations of all sizes gain financial savings, control and efficiency. Global Commercial Payments provides solutions for travel and everyday business spending, cross border payments, global currency solutions, and business financing.
To learn more about Global Commercial Payments visit business.americanexpress.com
About American Express
American Express is a global services 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.
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