American Express (Amex) has agreed to acquire Hypercard, known as Hyper, an agentic expense management company, as it looks to strengthen AI capabilities across its commercial services business.
The deal brings in Hyper’s team of AI experts as American Express builds agentic tools and other AI-powered solutions to help businesses automate processes and simplify operations.
“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.
We’re thrilled to welcome Hyper, a team with deep expertise in designing and deploying AI agents, as we build next-generation AI capabilities into our products and services, including our expense management platform launching later this year.”
said Raymond Joabar, Group President of Global Commercial Services at American Express.
Founded in 2022, Hyper develops native AI agents that can categorise and file expenses, check them against budgets and company policies, and send reminders when submissions are due.
American Express and Hyper previously partnered in 2024 to launch the Hypercard Rewards American Express card, which included embedded AI-powered expense agents built through the Agile Partner Platform.
Hyper has since continued refining its agentic expense management capabilities.
“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.
Hyper was founded with the ambition to better automate expenses, and we’re excited to continue this mission as a part of the Amex team.”
said Marc Baghadjian, CEO and Co-Founder of Hyper.
The acquisition also comes ahead of Amex’ planned launch of an expense management platform later this year.
The deal is expected to close in the second quarter of 2026, subject to closing conditions.
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