American Express has announced an agreement to acquire Hypercard, an agentic expense management company. According to American Express, the acquisition will strengthen its commercial-services business by adding more AI expertise and more automation tools for business customers.

Since its founding in 2022, Hyper has worked to develop more autonomous workflows for expense management with native AI agents that auto-categorize and file expenses, check them against budget and policy and send reminders that submissions are due.

In 2024, American Express and Hyper partnered to launch the Hypercard Rewards American Express card with embedded AI-powered expense agents leveraging the Agile Partner Platform. The acquisition of Hyper is part of the company’s long-term AI product strategy with the addition of both technology and a team focused on practical workflow automation.

Last month, Chairman and CEO Stephen J. Squeri outlined the company’s strategy to build more AI-powered experiences across its platforms. Among other initiatives, the company said it expects to launch an expense management platform later this year. The Hyper acquisition builds on these plans

American Express said the deal is expected to close in the second quarter of 2026, subject to standard closing conditions. Financial terms were not disclosed.