American Express OPEN Launches Online Invoicing, Credit Card Processing Service for Small Business

American Express officials highlighted their support for small business owners with the launch of AcceptPay, an online invoicing and payment manager released under the OPEN brand. The service integrates web-based customer relationship management tools developed by PaySimple with an affordable merchant account solution. American Express officials told reporters that the new service gives members more control over client cash flow.

"At a time when every dollar counts, business owners need tools and resources to help them better manage their firms' finances," said American Express spokesperson Mary Ann Fitzmaurice Reilly. "That is why we created this innovative payment collection solution that can help them get paid faster."

AcceptPay's credit card processing fees compare favorably with those from other turnkey payment solutions, like PayPal and Google Checkout. Unlike other web tools that require companies to supply their own merchant accounts, AcceptPay's system requires no technical setup or long-term contract. A $20 monthly fee allows members to request and receive credit and e-check transactions directly to their company bank accounts, regardless of whether they carry an American Express card.