This article summarizes some personnel changes in the American Express Global Commercial Services (GCS) business, where they have recently experienced tepid card spending results. While travel-related commercial card programs have somewhat predictable organic growth tied to travel budgets, B2B card payments in general have a much higher growth ceiling given the overall level of global business activity and continued trend towards digital corporate payments. It is in this space where cards has seen a steeper growth slope, driven mainly by continued adoption of virtual card payments in corporate payables systems.
“Large corporations are partnering with American Express to create simplicity and efficiency in a customized way for their corporate payments programs, with a goal of optimizing spend across the full supply chain. Andy and Ken are helping us effectively respond to this growing demand across the globe,” said Lisa Marks, Senior Vice President/GM of American Express Global Business Development, Global Commercial Payments.
This is a seemingly clear move to continue focusing on B2B as a global business opportunity. This was also highlighted as a goal in recent investor presentations so indicates a reaffirmation that AEXP has a commitment to pursuing greater results in large market B2B payables.
Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group
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