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PRO CARD PAYMENT

Expense Management is responsible for managing all transactional aspects of the American Express Corporate Procurement Card and Buyer Initiated Payment Program evaluating program compliance, policies and procedures, cardholder compliance, usage, and program effectiveness.

The American Express Purchasing Card and Buyer Initiated Payment programs are payment solutions offered by SPE to procure goods and services on behalf of the company. Below is a brief overview of our payment solutions.

Corporate Purchasing Card

Corporate Purchasing Card – traditional card based vehicle for consolidating high volume/low dollar purchases

  • Traditionally replaced the PO and invoice, streamlining buyer’s procurement process. However, buyers are using it on the back end as well now – after invoice approval
  • Pricing discounts available (must pass level 2 or level 3 data)
  • Enhanced data capture capabilities

Buyer Initiated Payment

Buyer Initiated Payment– ERP integrated solution that enables automatic electronic payments

  • Not a card program/ No (POS) Point of Sale device needed
  • Buyers maintain existing workflow. Suppliers submit invoices to buyers as they do today
  • Buyer sends payment instruction to Amex for exact dollar amount
  • Amex deposits funds directly into supplier’s bank account
  • Pricing discounts available ( must pass level 2 or level 3 data)

Benefits

  • Potential for faster payments
  • Secure payment method
  • Automated payment notification and tracking
  • Reduction of billing and collection costs
  • Elimination of lost or fraudulent checks
  • Receipt of payments without use of point-of-sale equipment (BIP)