Integrated payments firm American Express (Amex) has agreed to acquire Center, a software entity specialises in expense management software.
Both the firms intend to create an expense management platform that complements Amex suite of corporate and small business cards with Center’s software.
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Center’s software is designed to streamline the expense management process by providing businesses with real-time insights into employee spending.
It also allows businesses to automate accounting tasks, simplify expense submissions, and enhance reporting capabilities.
The integration is expected to deliver additional value throughout the commercial card payments process, including premium card choices, rewards, and automated accounting reconciliation.
Amex global commercial services group president Raymond Joabar said: “By integrating Center’s outstanding talent and technology, we can save our customers time and money and strengthen our leadership position in commercial card payments.”
The new, integrated card and expense management solution, aims to assist customers/ employees in managing expenses with a “mobile-friendly, automated app”.
The new solution also helps businesses conserve time on reviewing, auditing, and posting expenses to the general ledger.
Moreover, business owners and CFOs are expected to benefit from a system that ensures compliance with company spending policies.
The deal is anticipated to be finalised within the second quarter of 2025, pending customary closing conditions.
Center CEO and co-founder Naveen Singh stated: “Since 2018, our team has built industry-leading software and delivered strong results for our customers. We have always believed that card and expense management should be deeply linked, and we believe that even more great work can be done by incorporating our capabilities and talent into American Express.”
Last month, Amex partnered with Alipay, which will allow the integration of global Amex cards with the Alipay digital wallet.
