Amex plans procurement payment platform

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San Diego--American Express Co., New York, said it would release within two months a set of payment products designed to work with Internet procurement platforms. Initially, American Express will tailor what's called American Express B2B Commerce Network to fit directly into the Ariba B2B Commerce platform. That means companies buying products using Ariba Inc.'s software - either for corporate procurement or marketplace trading - will be able to use American Express corporate credit cards to complete purchases, trigger shipment and automatically update financial records. The move is significant because it promises a mechanism for the exchange of money to the Internet corporate buying services. On the flip side, corporate credit cards have not gained widespread use, and electronic data interchange (EDI) is often used for larger transactions. Ed Gilligan, president of American Express Corporate Services, said Amex plans to use the payment platform to extend corporate lending, credit checks and other services online. The announcement was made at the Ariba user's conference in San Diego.
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