American Express Acquires Center for Expense Management Tech

American Express has announced its acquisition of Center, a payment and expense management technology provider, aiming to integrate its software with Amex’s corporate and small business cards. The deal, expected to close in the second quarter pending customary approvals, will enhance Amex’s ability to offer an all-in-one card and expense solution. Financial terms were not disclosed.

Founded in 2017 by Concur co-founder Steve Singh, Center is part of Singh’s corporate travel investment portfolio, which includes Spotnana, Troop, and Direct Travel. Center CEO Naveen Singh stated that the acquisition aligns with the company’s vision to tightly integrate card payments with expense tracking.

“By merging our advanced expense management technology with Amex’s commercial card solutions, we can revolutionize expense management for small and mid-sized businesses,” said Naveen Singh in a blog post. He emphasized a seamless transition and commitment to simplifying corporate expenses.

American Express sees this acquisition as a strategic move to enhance its commercial card offerings by leveraging Center’s AI-driven expense tools. While specific integration details remain undisclosed, Amex plans to provide a comprehensive financial management solution for businesses.

Center’s platform, currently powered by Mastercard, will continue its role in Singh’s investment network. Steve Singh affirmed that Center’s partnership with Spotnana would remain strong, stating that the acquisition will further benefit customers.

This deal underscores Amex’s commitment to expanding its footprint in financial technology, reinforcing its leadership in corporate expense management.

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American Express Acquires Center for Expense Management Tech

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