American Express Has a New AI Play That Goes Beyond Payments

April has been a busy month on the artificial intelligence front for American Express. The company recently rolled out a number of tools to bring trust and security to agentic commerce.

And now the leading credit card issuer and payment network has announced its purchase of Hypercard, a company that harnesses the power of AI to equip businesses with expense management services.

Artificial intelligence capabilities are growing at a pace that companies can’t afford to ignore if they want to stay relevant. Hypercard AI specialists will help Amex craft AI-powered solutions that will allow businesses to simplify processes through automation, according to an American Express press release on the acquisition.

Business owners can have a lot on their plate, and turning key operations over to AI tools may not be something many owners are comfortable with. But when a company with the legacy of American Express is offering those tools, it can help assuage any concerns owners may have.

The payments titan plans to build more products and services that include next-generation AI capabilities. For example, Raymond Joabar, Group President of Global Commercial Services at American Express, revealed in the press release that Amex aims to launch an expense management system later in 2026.

Spending too much time on tasks like tracking cash flow or categorizing expenses can prevent a business owner from finding ways to take their company to the next level. But hiring more staff to take care of those processes may not be a cost-effective solution for some companies.

“Our customers want smarter, more efficient ways to manage expenses so they can focus on what’s next for their business, and AI has the potential to transform the way businesses get things done,” Joabar explained in the release.

American Express said it expects its acquisition of Hypercard to close in the second quarter of this year.

Hypercard may not be a household name, but you’re likely to recognize some of its financial backers. That list includes Sam Altman, CEO of OpenAI, and former Mastercard CEO Gene Lockhart, according to an American Banker report.

The expense management company only began in 2022, but it has made great strides in its relatively short existence. American Express previously partnered with Hypercard in 2024 to launch a corporate credit card that included integrated, AI-driven expense agents.

While businesses may be the first to reap the rewards from the union between American Express and Hypercard, consumers stand to benefit from it as well. When employees don’t have to devote time to manual processes, they can spend that time supporting customers and developing products.

Hypercard has enjoyed financial backing from investors including Sam Altman, CEO of OpenAI, and Gene Lockhart, a former CEO of Mastercard.

American Express has made significant moves lately to boost its AI capabilities, but the company may have more in store as 2026 marches on. 

In a recent letter to investors, Stephen Squeri, Chairman and CEO of American Express, outlined that although agentic commerce can enhance the speed of the transaction process, it also introduces new layers of both complexity and risk.

“As AI agents become more prevalent, we believe consumers will increasingly make their payment selections based on who they trust and who can deliver incremental value across rewards, offers, experiences, and access,” Squeri wrote.

“In developing our AI solutions, our goal is to ensure they have strong security protections, consistent with our commitment to back our customers,” Squeri added. “This proactive approach underscores our intent to build trust into an evolving ecosystem.