Not yet three years old, New York-based Ramp Business Corporation last month confirmed new financing of $750 million at a valuation of $8.1 billion. It announced that more than 5,000 businesses were on its platform, which “is powering over $5 billion of annualized payments volume.” It’s a tech firm that offers payments rather than a…
If you tuned in to an American Express Company investor call six years ago, you heard about a vintage brand dramatically cutting costs to help profits. Now, strong growth with younger generations and a significant lead over competitors in the small and medium-sized enterprise card market have Amex predicting double-digit revenue growth for the foreseeable…
U.S. Bancorp’s acquisition of expense management software builder and travel agency TravelBank culminates a series of investments to build integrated business software and services, accelerate midmarket demand for banking and payments, and fend off financial technology firms. Banks traditionally picked up small business clients through lending and banking, but a digital revolution has changed that,…
New York – Spotnana officials have been calling it the AWS of travel, but the reference only gets you so far outside tech and investment circles. Concepts like open stack and microservices help a little. In corporate travel, though, people want to know whether you are attempting to be a GDS, an OBT, a TMC…
The innovation in virtual payment is clear, as are its challenges. New standards hold some promise for a primary use case, lodging, but have a ways to go. A Hotel Electronic Distribution Network Association and Hospitality Technology Next Generation joint task force has been working on specifications under the Open Payments Alliance umbrella for a…
The sharp increase in U.S. merchant contactless payment capability during the pandemic is increasing the appeal of virtual payment by tackling one of its many challenges. For all their well-documented strengths in terms of controls, fraud prevention, data quality and velocity, compliance, reduction in manual processes, ease of distribution and support for infrequent travelers, virtual…
The largest player is after the market’s smallest accounts, which by many accounts are leading the business travel recovery. Continuing a customer segmentation strategy, American Express Global Business Travel last week brought to the United States an employee spend management solution for small and medium-sized enterprises first introduced last year in the United Kingdom. With…
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