Amex bets big on new business membership

American Express is making a significant strategic investment in a new offering called 'Business Membership,' signaling a major expansion beyond its traditional corporate card services. Historically, corporate cards have offered core functionalities like processing, tracking, and reconciliation, along with rewards programs and credit limits. Amex, a pioneer in this space, now believes the market has evolved beyond these basic features. This new initiative represents the company's largest commercial wager in years, indicating a strategic shift to capture a larger share of the business market by offering more comprehensive solutions.