AMERICAN EXPRESS and Concur have forged a strategic marketing alliance to offer corporate clients travel and expense management services.
In the US$250 million (£134 million) tie-up, Amex has taken a 13 per cent equity stake in Concur. Concur will now exclusively promote Amex's corporate cards to its 7,000-plus clients, while Amex's Global Commercial Card business will exclusively promote Concur Expense management to its corporate customers.
"This partnership expands our market presence and broadens our distribution capacity," says Steve Singh, Concur's chairman and CEO. Both organisations will continue to work with other providers - Amex delivering spending data to customers that opt to use other expense-reporting systems, while Concur will continue to work with other corporate payment solutions.