NEW YORK - American Express Co. has added two major companies, AlliedSignal Inc. of Morristown, N.J., and Bankers Trust New York Corp. to its purchasing card program.
The card giant said that these signings are part of a trend to consolidate several purchasing services with one provider.
AlliedSignal is one of the first companies, according to American Express, to combine under one contract purchasing, corporate card, and business travel services, consolidating $350 million in annual travel and purchasing activities.
The manufacturing company has been offering corporate cards to its employees through First Bank System Inc.'s Visa program, but it is expected to sign a five-year contract with American Express in several weeks.
American Express is also providing business travel and purchasing card services to Bankers Trust, which signed two contracts this month.
So far, American Express' purchasing card program, launched in 1994, has signed 250 companies. About 75% of them also offer American Express corporate cards.