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    <li>
      <p>
        American Express GBT has entered a definitive agreement to acquire CWT, a provider of global business travel and meetings solutions. The acquisition, which is expected to close in the second half of 2024, is subject to regulatory approvals and other closing conditions. The company is valued at USD 570 million.
      </p>
    </li>
    <li>
      <p>
        The acquisition aims to significantly expand American Express GBT's customer base, adding ~4,000 more clients to its roster. Post-acquisition, CWT customers would have access to Amex GBT&rsquo;s proprietary travel and expense management software and services.&nbsp;
      </p>
    </li>
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      <p>
        CWT specializes in arranging business travel and professional meetings on a global scale. The company also offers a specialized traveling management service to clients operating in the energy, resources, and marine sectors.
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  <p>
    <a href="https://www.amexglobalbusinesstravel.com/press-room/amex-gbt-to-acquire-cwt/">
      Press release
    </a>
  </p>
  <p>
    <a href="https://www.phocuswire.com/Amex-GBT-acquiring-CWT-in-570-million-deal">
      PhocusWire
    </a>
  </p>
  <p>
  </p>
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Travel Tech

INCUMBENTS_PRESENT

<div>
 <p>American Express Global Business Travel (GBT) has entered into a definitive agreement to acquire CWT, a leading provider of international business travel and meeting services. This acquisition, which is anticipated to complete in the latter half of 2024, is contingent on obtaining regulatory approvals and meeting other closing criteria. The transaction values CWT at USD 570 million.</p>
 <p>Through this acquisition, American Express GBT aims to significantly enhance its client base. It expects to add approximately 4,000 additional clients from the CWT portfolio. Once the acquisition becomes official, CWT's clients will gain access to American Express GBT's proprietary travel and expense management tools and services.</p>
 <p>CWT is renowned for its expertise in organizing professional business trips and conferences on a global level. The firm also provides clients in the energy, resources, and marine sectors with specialized travel management services.</p>
</div>

American Express GBT to acquire CWT for USD 570 million to expand business travel and meetings services

Platforms, apps, and cards to keep the corporate wallet in check

Business Expense Management

PROMINENT_CATEGORY

<div>
 <p>American Express is set to partner with American Express Global Business Travel (Amex GBT) to incorporate American Express virtual cards into Amex GBT Neo1 spend management platform. This is aimed to streamline expense management for smaller and medium sized businesses.</p>
 <p>Through the use of the Amex GBT Neo1 platform, physical card numbers would be swapped with digital ones. It is required for US cardholders to first register in Neo1, before they can add eligible American Express Business or Corporate Card accounts.</p>
 <p>The integration is designed to simplify the management of spending, travel booking, and process expenses for businesses. It is expected this will help save time and funds for businesses by automating processes and offering a more efficient control of employee expenditure.</p>
</div>

Amex and Amex Global Business travel launch new integration to streamline spend management

Biometric Payments

American Express is set to introduce facial and fingerprint recognition as authentication methods for online checkouts. These biometric features will be included in the company's SafeKey 3-D Secure tool, using web authentication technologies from organizations such as the Fido Alliance and the World Wide Web Consortium. Initially, a select group of US customers will have access to this pilot program, subject to a security validation process when checking out. The plan is to roll out these features to all American Express cardholders in the US by early 2024.

All Updates

American Express GBT to acquire CWT for USD 570 million to expand business travel and meetings services

Amex and Amex Global Business travel launch new integration to streamline spend management

American Express initiates biometric authentication pilot for online checkouts

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American Express GBT to acquire CWT for USD 570 million to expand business travel and meetings services

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