In Brief: Amex Begins Global Net-Based Payments

American Express Co. has kicked off an Internet-based service that lets small and midsize U.S. companies send payments in 41 foreign currencies, 24 hours a day, seven days a week.

The payment system, known as American Express International Payment Services, has no enrollment charge. Each transaction up to $2,500 costs $10. There are no fees on transactions of more than $2,500 for the first three months after enrollment. After three months, there is a flat $10 fee per transaction.