Shares of American Express Company (NYSE:AXP) ticked up slightly after the firm announced an agreement to acquire Hypercard, a provider of AI-driven expense management solutions.
Hyper develops artificial intelligence tools that automate tasks such as expense categorization, policy compliance checks, and deadline reminders. The acquisition aligns with American Express’s broader push to embed AI capabilities across its product suite.
Established in 2022, Hyper has focused on transforming traditionally manual expense processes into streamlined, automated workflows. The two companies previously collaborated in 2024 to introduce the Hypercard Rewards American Express card, which integrates AI-powered expense agents through the Agile Partner Platform.
“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,” said Raymond Joabar, Group President of Global Commercial Services at American Express.
“We’re excited to join the team at American Express and work together to help businesses reduce friction in the expense process through AI technology,” said Marc Baghadjian, CEO and Co-Founder of Hyper.
American Express also plans to roll out a new expense management platform later this year, incorporating advanced AI features. The deal is expected to be completed in the second quarter of 2026, pending customary closing conditions.