American Express has launched a digital checking account for businesses and issued its first ever debit card as part of the package.
The new account leverages technology developed by small business lender Kabbage. American Exopress acquired Kabbage in August last year as part of a strategy to roll out a range of cash flows services to businesses.
Dean Henry, EVP of global commercial services at American Express says: “We built the new American Express Business Checking from the ground up because businesses told us they want more from their existing checking account. It’s a customer first, full-service digital business checking account that makes cash management easy, processes a range of payment types and earns high-yield interest on balances up to $500,000. Plus, customers will soon be able to earn and redeem Membership Rewards® points.”