Amex Expands Business Services with High-Yield Savings, Payroll Tools

American Express has unveiled several new tools and services aimed at small to midsize businesses. The company introduced a high-yield Business Savings account, which offers a competitive interest rate, and a payroll solution powered by Gusto that uses AI-driven insights to help business owners manage their finances.

The new features also include the integration of Graphite Card rewards with American Express's Business Banking platform, allowing cardmembers to redeem points within the banking ecosystem. Additionally, the company has expanded its Aspire Amex Lounge network in Canada, providing more locations for eligible cardholders.

This move is part of American Express's broader effort to keep small and midsize enterprises within its ecosystem for both everyday banking and travel spending. The expansion of these services is seen as a key catalyst for the company's premium customer story.