Regal Software Signs Agreement With Mastercard to Provide a Turnkey Corporate Virtual Card Platform to Regional and Community Banks
Partnership will enable banks to offer automated virtual cards for corporate payables without a huge investment in technology
American Express is continuing its ongoing efforts to encourage businesses to pay suppliers with commercial cards in its latest accounts payable partnership. The credit card firm announced Tuesday (Aug. 29) it had struck a deal with Regal Software Technologies enabling businesses on the Regal platform to pay invoices with American Express Corporate Cards.
The businesses dubbed their collaboration RegalPay Payables Automation with American Express, emphasizing it is a largely out-of-the-box offering that seamlessly links into the RegalPay accounts payable system. Users have access to virtual card capabilities from American Express, providing a single-use virtual card to pay bills.
“American Express is committed to providing holistic business-to-business payments solutions that meet the needs of our corporate clients,” said Gint Balodis, American Express global commercial payments vice president for B2B products, in a statement. “This integration allows companies to electronically pay suppliers right from their accounting software in RegalPay, simplifying and streamlining their B2B payments process.”
According to the companies, the solution can also support batch payments with automated reconciliation and data entry.
“Customers will now be able to optimize their American Express Corporate Card experience using the RegalPay solution,” added Kofi Conduah, Regal Software CEO, in another statement. “Enhanced automation, security and efficiency are at the core of RegalPay. We are excited to collaborate with American Express to offer this innovative solution to the corporate payment space.”