Multinational payments leader American Express recently launched a global pay solution for making local and international B2B payments and transactions, integrated directly into the AmEx mobile app. Accessible in more than 40 countries, this rollout consolidates the payment experience for SMBs by speeding up process times and creating simplicity in foreign exchange payments, effectively unifying the customer experience across consumer and business payments. AmEx Global Pay is now an attractive option for small businesses looking to grow their sales and revenue channels.
“In businesses today, it’s a hassle if you want to send even ten thousand dollars, a hundred thousand dollars, or a million dollars, from one country to another, using the existing system with banks,” said Peter Jensen , CEO of RocketFuel Blockchain Inc . “Sometimes the money gets there, sometimes it doesn’t, and sometimes it gets stuck. Using modern technology, it’s much safer, it’s cheaper, but more importantly it’s very reliable.”
According to research from leading payments data organization PYMNTS , 82% of executives think their SMB customers are extremely interested in using all-in-one platforms like the one AmEx is launching, and 72% say the same for using these platforms to make B2B payments. However, this adoption is still new for many within the industry, and with another major player entering the B2B payments game, it’s bringing barriers to light.
“Every time a new technology comes out, it takes time to generate awareness and knowledge for everyone in the industry. As a provider what we can do is keep pushing the technology out there so people can experience it and see the benefits for themselves,” Jensen said.
All-in-one payment solutions grab the attention of SMBs for their ease of use and the ability to prioritize payment preferences for both sides of the transaction, an important feature when trying to maintain important […]
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