American Express has signaled its intention to take a larger slice of the supply chain finance market with the launch of Early Pay, a supply chain finance and dynamic discounting solution. The new product is being offered to large U.S. companies who buy goods and services from U.S.-based suppliers, who will use a digital platform to have their eligible invoices paid earlier than their original payment due date at a discount. The supplier does not need to be an American Express Card-accepting merchant.

Gina Taylor Cotter, Senior Vice President and General Manager, Global Commercial Financing at American Express, said Early Pay had begun life as an internal American Express programme. “We originally developed a service to use with our own suppliers in 2016,” she said. “Its quick adoption and success led us to develop the Early Pay solution for external clients.”

Early Pay joins a growing line-up of SCF and working capital products from American Express, including Working Capital Terms, which offers short-term financing to pay vendor invoices and is designed to help small businesses manage cash flow. First launched in 2016, the product is offered to American Express Business Card members with direct payment to vendors.